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  2. Why did you close your last startup?

Why did you close your last startup?

Artem Bukharin
9 replies
Please share the reasons for deciding to close your last project. It will help new founders avoid making the same mistakes.

Replies

Trader BinQosim
I cant really relate hmmmm I will like to hear people's experience
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Hossein Yazdi
I haven't closed it, but I'm currently spending less time on it because I haven't implemented a correct payment strategy for it from the start, and it's impossible to change it now.
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Artem Bukharin
@hosseinyazdi Could you tell us about it in detail? It could help other people to not repeat it
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Marie-Philippe Leblanc
Launching soon!
Hmmm for me it was because I wasn't capable of seeing it into a startup that was big enough for my liking. Which means that either it wasn't the right market or I wasn't the right person for it
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Artem Bukharin
Have you defined criteria for new projects after this experience? What are they? I have determined that if it is not possible to generate 5M+ EBITDA, I will not take on such a business
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Elena Tsemirava
The idea was too complex to implement, and I couldn't find a developer co-founder who could execute it within a reasonable time.
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Artem Bukharin
@elenat Could you share this idea? It could be a good example to discuss
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Gurkaran Singh
We shut down our last startup because pivoting more times than a ballet dancer at a salsa party didn't quite lead us to the right dance floor. Learning to twirl in sync with market demands is a whole new kind of tango!
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We weren't able to find any customers for our solution and received an offer from other startup founders who already had founders. It is hard to tell if it is a good decision or not because another startup launched the same solution a year later after we closed ours. They currently have a valuation of more than $80 Billion. This startup with this valuation is OpenAI, and the solution is ChatGPT. Unexpectedly, before the ChatGPT launch, we had a hard time explaining to people for what reason they need a generative AI chatbot, especially when Google already exists. After ChatGPT, things changed significantly in this space...
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