FICTIONAL MINUTES / INVESTMENT COMMITTEE
The founder seems convinced he could become a billionaire. We recorded “unrealistic expectations” in the section assessing entrepreneurial ambition.
One million users is presented as evidence of demand. The committee sees one million hosting problems. Worse, none of them pay. The essential hundred-customer requirement is unmet.
Anyone could build this website in three days. As for the connections to the Napster crowd, we have seen what free music did to the record business. Now they want to make friends free as well.
Committee decision
Pass. Come back with fewer users and a revenue model in Excel.
Growth is a fundamental metric, unless it happens before we authorize it.
These meetings and decisions are fictional. The objections behind them are drawn from things we have heard firsthand. About this project ↗
More opportunities avoided