89. How to burn $2 billion

89. How to burn $2 billion

Does having $2 billion in the bank account and celebrity backing guarantee success for a consumer app? Not necessarily.

Listen to how one company burned through almost $2 billion and had to shut down their app after just 6 months. Learn what Quibi did wrong, so you can avoid their mistakes.

Learning notes from this episode:

  • Success in one field does not necessarily translate into another, especially without training. Quibi's founders used lessons from launching Hollywood blockbusters to launching consumer apps. This did not work.
  • Follow the product development process, no matter how much money you have. Focus on the user. Do your research. Build in stages. Track user reactions at each stage and pivot if necessary.
  • Only invest in large budget marketing after you've proven user need at small scale. Focus on retention metrics first, then on growth.

---

Join the Tech for Non-Techies membership community. As a community member, you'll get:

  • ALL of our courses (Tech for Non-Technical Founders, How To Speak Tech For Leaders and more)
  • Monthly coaching with Sophia Matveeva
  • Live masterclasses with global experts
  • Supportive Online Community
  • Library of masterclasses
  • Exclusive Resources & Perks

Learn more and sign up at https://www.techfornontechies.co/membership

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Jaksot(302)

301. How to catch the next tech investment wave

301. How to catch the next tech investment wave

Whether you're starting a tech venture or investing in one, you need to understand how to spot the next tech investment trend. Why? Because if your venture or your portfolio is riding the wave of a ...

29 Huhti 27min

300. 6 lessons from 6 years of Tech for Non-Techies

300. 6 lessons from 6 years of Tech for Non-Techies

Six years of building a global business teaches you things no business school will. What actually drives revenue. What wastes your time. What you wish someone had told you before you started. In this ...

22 Huhti 23min

299. You don't have to know how to code to start a tech company with Sophia Matveeva

299. You don't have to know how to code to start a tech company with Sophia Matveeva

This episode comes from Sophia's recent appearance on Scott Ritzheimer's Start, Scale and Succeed podcast — and it's one of the clearest walkthroughs of the Tech for Non-Techies methodology she has ev...

15 Huhti 22min

298. Inside the gaming industry: what every business leader should know

298. Inside the gaming industry: what every business leader should know

The gaming industry generates more revenue than music and film combined. It is the birthplace of innovations now used across entertainment, advertising, and AI. It is a fantastic sector for non-techn...

8 Huhti 22min

297. The fundraising mistakes that haunt founders for years

297. The fundraising mistakes that haunt founders for years

Giving away 10% of your company before you have a product might seem like a reasonable price for mentorship and introductions. But do the math at exit, and you get a very different story. In this ep...

1 Huhti 42min

296. What is coding, really? A non-techie's guide

296. What is coding, really? A non-techie's guide

If you've ever nodded along while someone talked about coding — secretly having no idea what they actually meant — this episode is for you. This is one of our most listened to episodes, and it's easy...

25 Maalis 20min

295. You are your biggest investor - think like one

295. You are your biggest investor - think like one

Your time, energy and capital are all scarce resources. Each has an opportunity cost. And yet many founders make decisions about their ventures based on excitement rather than evidence — committing a...

18 Maalis 12min

294. Product development is the new business literacy

294. Product development is the new business literacy

In the 20th century, financial literacy was essential. In the 21st century, it's product development. AI has made building faster and cheaper—which means more bad bets are being made at higher speed...

11 Maalis 18min

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