A Question re: "...our investors support us in putting quality ahead of profit..."


#1

@dan We ALL know an investor is someone who provides (or invests) money or resources for an enterprise, such as a corporation, with the expectation of financial or other gain, but if the following is true, “…investors support us in putting quality ahead of profit,” what did you tell them but not us, that would help the rest of us feel most assured about continuing our (meager by comparison) investment?
Does that make sense at all?
I wasn’t able to watch the live q&a but I watched the recording and it cleared up a lot and I like your (& Rita’s) honesty and brevity, but it is a hard fence to sit upon, so I have decided to wait for my pro+filter forge. I’m still as smitten as day one by all the possibilities (3D engrave? uh…? YES please!)…but I don’t want to be. #emoticonthatchangestomatchmyexpressionevery3-5seconds


#2

Maybe you don’t want my response…
But I think you answered your own question.
You’re smitten by the possibilities.
I’m smitten by the possibilities.

The investors want you and me to be happy with our machines. Our stable happy experiences will not be an exploding cell phone or a quad copter dropping out of the sky. We will wow our friends and family.
There will be buzz. Good buzz.
Other people will buy.
That’s a growth market.

As I say, you may not like my answer. I’m not staff. I don’t know what the investors say or hear. I’m just somebody looking forward to the quality and the possibilities when it is ready.


#3

I think the better way to say it is that the investors are happier with long term profit rather than short term. They see that quality will provide a stable platform for a strong business to grow and produce a steady long term profit plan rather than dump a product on the market and have a cash grab. Most business investors have money and don’t look for immediate satisfaction but instead want a wealth building mechanism they can depend on.


#4

If they get out now, they lose everything. The finish line got moved a few blocks - they didn’t get blown up. It’s that simple. GF’s investors see that they exist, but need work yet. And without putting in that work, everything to this point would be for nothing.

I don’t expect that you will get any new info from Dan here. By the very nature of things, investors are going to be privy to information that we as customers aren’t. We bought a product. That doesn’t give us a backstage pass to see how the sausage is made. :pig:


#5

Presumably they know the financials: burn rate, inventory carrying costs, etc…
They’ve probably seen a glowforge in action, like a beta user.

if Glowforge was a hot mess they probably would have pressured the company to ship and make back what they could.

If Glowforge becomes a quality tool maker they make their money back and a profit.

If people like my mom hear about it and buy one then they become a consumer electronics company and the investors have a unicorn. That is a long road full of slippery corners, but it appears to be the dream and it is what startup investors are usually chasing.


#6

Just a few things the investors know that you might not.

  1. What successful hardware startups are normally like. They’ve seen them all, and our team… well, I can’t brag about them enough.
  2. What a Glowforge is like to use. They’ve been able to use them, and see others use them.
  3. The actual details of all our finances, manufacturing schedule, quality numbers, etc. And back to the first point, they know how these details compare to most companies.

(I know a lot of people here would like to know #3 as well… in fact #2 too!)

If they thought we weren’t on the right track, they’d have us wind the company down, refund everyone, and go home. Instead, they’ve doubled down and asked how they can help more.

This product is really amazing. It kills me you don’t all have it yet. When you do… I can’t wait.


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