Find XO: The Formula for Success in Hardware Startups Without VC Investment (techcrunch.com)
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- PopSockets sold 290 million products in 115 countries over 11 years without large-scale VC investments.
- More intriguing than maintaining equity is the fact that they managed subsequent production runs with money earned from selling products.
- For hardware startups, it's essential to consider not only the book margin but also whether they have enough cash to cover manufacturing costs upfront and endure until payment is received.