Why did you close your last startup?

Question

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

Hossein Yazdi · Accepted Answer

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.

Trader BinQosim · Answer

I cant really relate hmmmm

I will like to hear people's experience

Artem Bukharin · Answer

@hosseinyazdi Could you tell us about it in detail? It could help other people to not repeat it

Artem Bukharin · Answer

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

Vlad Goncharov · Answer

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...

Artem Bukharin · Answer

@elenat Could you share this idea? It could be a good example to discuss

Elena Tsemirava · Answer

The idea was too complex to implement, and I couldn't find a developer co-founder who could execute it within a reasonable time.

Marie-Philippe Leblanc · Answer

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

Why did you close your last startup?

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