The 3 most dangerous moves for a startup project:
1. Blindly hiring before the product is built, especially blindly hiring expensive talent. Of course, some projects are just meant to raise funding and scam investors; those projects that specifically seek big-name deck/PPT funding have a different starting purpose. (90% of projects are burned by payroll in the early stage; in fact, for many early-stage projects, spending far exceeds servers and subscription costs.)
2. Early-stage costs are too high. The key in the #AI era is to reduce costs, and that is also the huge dividend brought by AI. Of course, top-tier engine and model projects are an exception; they have to burn money, so they are better suited to having strong backers and support behind them. But for most entrepreneurs, the biggest priority is saving development and staffing costs. The best state is when your expenses can be stopped at any time without affecting your life at all.
3. No risk-control mechanism. You need to set a stop-loss line for yourself, just like in $BTC investing/speculation. When making a product or project, decide how far to go before you stop investing; it may very well be that the direction is wrong, or that the idea gets crushed by the times. It is very important to give yourself room to brake and a stopping principle. Good risk control means that even if only 1 person uses the project, the project itself is still generating positive cash flow for you or positively supporting your work. #web3
1. Blindly hiring before the product is built, especially blindly hiring expensive talent. Of course, some projects are just meant to raise funding and scam investors; those projects that specifically seek big-name deck/PPT funding have a different starting purpose. (90% of projects are burned by payroll in the early stage; in fact, for many early-stage projects, spending far exceeds servers and subscription costs.)
2. Early-stage costs are too high. The key in the #AI era is to reduce costs, and that is also the huge dividend brought by AI. Of course, top-tier engine and model projects are an exception; they have to burn money, so they are better suited to having strong backers and support behind them. But for most entrepreneurs, the biggest priority is saving development and staffing costs. The best state is when your expenses can be stopped at any time without affecting your life at all.
3. No risk-control mechanism. You need to set a stop-loss line for yourself, just like in $BTC investing/speculation. When making a product or project, decide how far to go before you stop investing; it may very well be that the direction is wrong, or that the idea gets crushed by the times. It is very important to give yourself room to brake and a stopping principle. Good risk control means that even if only 1 person uses the project, the project itself is still generating positive cash flow for you or positively supporting your work. #web3