Eric Migicovsky is a Partner at Y Combinator, one of the top of U.S. startup accelerators, and he was previously Founder and CEO at Pebble, the company that created the first commercially successful smartwatch. Last Friday, he was interviewed by Adora Cheung (another YC Partner) on being an entrepreneur at the intersection of hardware and software. Here you can read a summary of my five biggest takeaways.
Fast iterations can save you a lot of money
7 out of the first 10 smartwatches built and shipped at Pebble ended up exploding (as in, broke into pieces), and the company learned a ton about what caused the issue. This early finding prevented them from making hundreds of devices with the same problem.
“We screwed up everything you could possibly screw up.”
Going from implementation to validation as fast as possible helps uncover issues that can be fatal if discovered in future iterations, when it might be impossible to recover due to lack of resources like time or money. Validating your product with real users is the ideal case, but you risk losing customers’ trust if a problem is not handled properly: if you ask your customers for their feedback, you better be ready to listen.Continue reading “From 0 to 1M customers, a conversation with Y Combinator”