Goti notes

Notes from watching initial conversation

Noticed you started the call quite candidly saying that you are vetting it for quality

Area of weakness for me is that I won't know what is novel - everything will seem extremely unique to me, since I haven't had exposure

From the beginning, it seemed like you had already experienced the pain point he was looking to address because the pain point wasn't really discussed in much detail, whereas I have no idea specifically where when the fraud occurs. Without knowing that, I can't validate the benefits of his business.

Timeline? Been through antler, looked at a competitors website a year ago. Two years!

Maybe I'm missing something obvious here, but shouldn't the future look more like Beam, with all the audit trail stuff behind the scenes? You receive a payment request and you pay it and it automatically integrates all of the relevant information in both of your accounting software?

Wouldn't a xero app store be a better way of doing this, especially in NZ and Aus?

Would have been better if he had come right at the beginning of the journey

How does he have the financial resources? After 2 years, and he's still got plenty??

Technical talent seems to be a big concern for him

Very convinced by Gamma, but not by chat with him

Really impressed how honest he was during the chat - how did you get him to not be pitching in that conversation?

exploiting trust

business is to create a network of different companies so that when you invoice, it can be verified by default, because all of these services are part of the network (I think)

Network effect is big risk

he's mindful of the CPA spirily if they don't get that viral

current customers are in the oil and gas industry.

Concerned around new automation tools like Friday, and xero,

Beam - example of simple interface

what value does he want - feedback - does the pain and solution resonate

would be 200k in the hole for another developer if they wanted to pivot.

Notes from call where they evaluate what’s happened so far (e.g at the end of a sprint of working together)

Value in ascertaining how far off they are

The structure of the findings all being documented in one place, so easy to pass onto their team to get them up to speed.

Would have been nice if it could have been faster

25 mins in:

Process is an asymmetric bet - we spend $20K so that when we spend $600K next, we have a much higher confidence interval. How could we have gotten this level of certainty without the structure of this process. Lean startup approach is too expensive.

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