Re:Tech bubbles are bursting all over the place
by gamblor956 on Friday May 13, 2022 @02:59PM
(#31371327)
That sounds like a moonshot rather than a $100k, unless you already have a working prototype that simply needs to be refined for commercialization. (Meaning: an actual working prototype, not a demo created solely to show off the concept.) What you've suggested is a job that would take a team of developers a few months. I'm not surprised the investor was skeptical that a 1-man team could do it in 6.
And what are your plans for revenue? How do you plan to make money? You'll be dealing with a lot of legal questions related to IP licensing, and the legal fees alone would eat your $100k in a month or two, even before the licensing costs for the videos.
All-in-all, I can't fault the investor for turning you down. You haven't put enough thought into the business aspects of your idea for him to entrust his money to you.
And don't bring up this crypto bullshit. It's irrelevant that he's investing in crypto companies; he already knows he's gambling with those and he's not treating those like real investments. Given crypto's history, he just needs to bail at the right time to come out ahead.
And what are your plans for revenue? How do you plan to make money? You'll be dealing with a lot of legal questions related to IP licensing, and the legal fees alone would eat your $100k in a month or two, even before the licensing costs for the videos.
All-in-all, I can't fault the investor for turning you down. You haven't put enough thought into the business aspects of your idea for him to entrust his money to you.
And don't bring up this crypto bullshit. It's irrelevant that he's investing in crypto companies; he already knows he's gambling with those and he's not treating those like real investments. Given crypto's history, he just needs to bail at the right time to come out ahead.