The team at Quibi
. Any startup venture requires a certain level of aptitude and tenacity, but taking on the social/video market is another level of willpower. Short form video content is ever-evolving by nature; preferences for such quick bites rarely stick in the same way preferences for long-form movies often do. Quibi inhabited a strange space in between streaming platforms like Netflix and our short-form friend Tik Tok, though never carved out a defined sweet spot.
I’ve seen countless articles and posts that ‘predicted’ the fall of Quibi and its inability to survive with COVID, as well as a bashing on their helplessness and falling customer interest. It’s difficult seeing the celebrations of predicted failures more prominent than an unexpected success. Andrew Chen, a partner at Andreesen Horowitz, wrote a post that I feel quite succinctly addresses the millions of general consumers who ‘foresaw’ such a conclusion:
All the people rushing to their keyboards to type in their “i told you so” hot takes on Quibi:
It’s gross. Building a company is hard, why celebrate a fail?
Go build something instead of using your energy to let twitter know how smart you are the say the consensus thing.
Prob not a lot of Quibi team reading social media today but:
y'all tried something hard. Respect. I thought the app was well done. The vertical video, scrubber UI, and lots of new content all the time.
If you apply to a co I’m involved w/, I see Quibi as a badge of honor, not a fail
For the haters-
It takes zero courage predict startup failure. Most fail. 50% return <1x invested, 10-20% get a small bit of return. It’s just hard
I don’t read a tweet trashing a startup, then conclude the author is so clever. But I get people want to get their follow count up
Here’s how I judge your startup hot takes:
Consensus + positive = cheesy
Contrarian + positive = genius
Contrarian + negative = skeptic
Consensus + negative = jerk
I just find the latter takes to be gross/annoying. You’re not smarter than anyone. Just punching down for fun?
Backlash is easy to come by. Taking risks is not.
Thank you all for reading! Until next week.