The satisfaction of waking up to write down a fleeting thought.
Fortune Cookie: I guess what goes around comes around.
A few weeks ago I sent a survey to freelance developers to collect data on major pain points during mobile development projects. Several results came in, but not enough to be able to draw meaningful conclusions. If you haven’t filled the survey out, please do. Otherwise please share it with freelance mobile developers in your network.
CLICK HERE TO TAKE THE SURVEY
Survey highlights (“General Thoughts”) :
[ ] Edits mine
A social app can’t start out being social when nobody is using it yet. For that reason, social feature apps first need to be (1) seeded with founder-generated content (inorganic) or (2) play well in single-player mode. When early users are baited with something to keep them busy, they may get just enough utility out of the app to produce their own content and, in turn, grease the social mechanics of the startup.
If everything works as planned, the seeded content is just the opening act for the social feature. But this outlook might be a little short sighted. Several startups have come to a head, showing that their social engines were actually missing a gear. The two that stand out are Foursquare and Twitter.
There is a lot to learn from the work other companies do. As a co-founder of a mobile startup, I find it really helpful to learn from how other apps iterate. Foursquare is a particularly beautiful app that has recently gone through some dramatic changes.
Venture math can be tough. Terms like convertible note, discount and cap can complicate a seemingly easy process. A convertible note is a debt instrument typically used when a company first begins to raise capital. The valuation of the company is determined at a later date, after a Series A investment. This is when a note converts to equity at the previously agreed upon terms. A discount and cap are typically included in those terms. A discount gives a note holder’s small investment a little bit more purchasing power. But with a discount, there is no limit to the valuation of the company. That’s where the cap comes into play. A cap limits the valuation of the company to a pre-determined price. In other words, it protects early investors (note holders) from being diluted to oblivion. Owning 0.0004% of a company sucks for someone who took most of the risk, and a cap prevents that from happening.