Trey Ward

speaker

263 appearances 1 recordings 1 series first heard Jan 2026 last heard 13 Jan

Trey Ward’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

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Once you start to get revenue inflecting for a hardware business, it's also not as pretty.

As opposed to a smooth revenue curve, you're going to get more of a step function.

And the reason is you usually have to build up some sort of manufacturing or facility supply chain, some capabilities to meet that demand.

Once that demand is met, you don't just flip a switch, right?

If you want to go to the next level, you're talking about greater manufacturing capabilities, maybe new facilities.

And so in the early days, you kind of see it going in steps.

We go back to the example that we just talked through.

You're building some amazing technology for six years.

In the very beginning, there's a lot of excitement.

There's a lot of hype around it.

Now, as time goes on, you are forced to continue to stay focused, stay leaned in on what you're building, right?

Maybe you're getting some customer feedback, but you're not getting revenue because it's not complete.

And so while maybe the entrepreneurs and the investors look internally at the company and they say, wow, this is incredible.

What does the outside world see, right?

Because right around this time, you're raising a Series B and the Series B investors look at you and they say, all right,

This is really cool, but you spent six years building it.

You've burned $40 million and you have no revenue.

So I'll wait, right?

Well, what happens if everyone waits?

Well, these companies have no revenue, so they can't get profitable.

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