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In the Winter 17 batch, a company named Vyond, founded by Stanford dropouts, faced significant challenges with their VR headset idea. They expressed doubts about their concept during office hours, feeling ashamed and contemplating shutting down. This segment highlights the initial struggles of startup founders and the importance of perseverance in the face of adversity.
"in the winter 17 batch there was this one company was called vyond that was their name at the time and it was like a VR headset thing from these Stanford dropouts and you know they were good programme..."
After struggling with their VR concept, Vyond pivoted to a new idea that leveraged their expertise in fintech, ultimately rebranding as Brex, a decacorn startup. This segment discusses the significance of a successful pivot in the startup world, emphasizing that a good pivot builds on prior knowledge and experiences, leading to greater excitement and potential success.
"basically they had worked on a fin tech company in Brazil when they were younger and so I'm like you need to work more on the thing you know all about and not the thing you know nothing about a good p..."