Hank Leber
๐ค SpeakerAppearances Over Time
Podcast Appearances
And the team said, if human beings can still use Twitter and be a new Twitter user, we can figure this out.
We just don't know what they've changed.
And I said, all right, well, then that's it.
Let's all get in.
We floored it and went straight toward the cliff.
The sad news is it took longer than three weeks to figure out that it was a reduction in the automation threshold.
It went from a thousand actions per day down to about 200 per day.
So they did an 80% reduction in their tolerance.
And that took us about two months to figure out long after everybody had sort of dispersed our investors.
It was all smaller checks.
Nobody wanted to really defend their original investment.
Yeah, it was all in a safe note.
And, you know, you look at like angel, angel investing and,
The conundrum is you've got to push real hard and get that 15%, 20% month-over-month growth rate to qualify for angel investment checks these days.
However, that makes for a very dangerous business because you think about it, we could have diversified across other platforms, would have lowered our growth rate, but it would have made us less interesting and harder to raise money.
So it's kind of like damned if you do, damned if you don't.
Oh, absolutely.
The thing that I found was it wasn't that they didn't believe in the team or in our capabilities, mine or anybody else in the team, they did.
There's a trigger that's happening.
I think a lot of investors have seen this or heard stories about getting burned by building a SaaS company on the back of another platform that could kill you is a very dangerous thing to do.