The biggest mistakes young companies make – including the IOTA Foundation

Disclaimer: I am following the IOTA project since a little while now and I am always amazed by the sparkling innovation both the IF and the community deliver. That being said I would like to offer my view on the current state of the project and what we could improve. No FUD. No drama. Brace yourself, David!

One of the biggest and most influencial findings in Entrepreneurship is this: Talk to your customer and REALY understand their needs. The IF is greatly failing to listen (in several ways)!

  1. Qubic: The idea of 'Q' is much older than IOTA. I am wondering, is it really needed? Is there a single company that was somewhat interested in the concept? Has anybody actually looked into the question if the industry really 'needs' sth like Qubic?

  2. Jinn/Trinary Trinary is supposed to be more efficient and the natural evolution of binary systems. Let me ask you: Is there a SINGLE other company that looks into this REVOLUTIONARY tech? Microsoft? IBM? Google? —> No. The reason is simple: Trinary might be better than binary. However, for most business cases binary solutions work just fine and probably will for a while longer. There is no incentive for normal companies to develop or use trinary solutions. At least, that is what I as ONE potential customer would argue. What about the rest of the market?

How do we find out if Qubic/Jinn is a great idea? The "Lean Startup Model" suggests to treat new product developments like experiments. This means to show an idea to customers extremely fast in order to get FEEDBACK! Products that are being developed in the dark are doomed to fail..

Eric, I am looking forward to your (low-fi) prototype of Qubic. I am excited to see what it is all about!

submitted by /u/uniqueIOT
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