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EwokEntourage posted:you want to compete with netflix and disney and such and you used legal zoom to incorporate? TBH I wouldn't even put in the second half of that sentence. I'd initially read it as competing with Youtube and other UGC sites - if you're talking about streaming pre-produced content, well, good luck? (They probably will not even talk to you about licensing rights.) But definitely keep us updated on how your quest to license Disney's content goes.
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Jun 9, 2020 21:57
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incorporating before seeking venture capital would seem to be a way to go, so, you shouldn't judge the business proposal on the basis that he's got no funding just to do the very early setting up a business stuff?
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Jun 9, 2020 22:04
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Kalman posted:TBH I wouldn't even put in the second half of that sentence. I'd initially read it as competing with Youtube and other UGC sites - if you're talking about streaming pre-produced content, well, good luck? (They probably will not even talk to you about licensing rights.) Who said I'm trying to get licensed content? If you just want to be complacent about massive monopolies taking over both user generated and commercial entertainment all over the world that's fine. I'm just not going to sit back and watch. Leperflesh posted:incorporating before seeking venture capital would seem to be a way to go, so, you shouldn't judge the business proposal on the basis that he's got no funding just to do the very early setting up a business stuff? Thank you, I feel like this is a pretty normal thing to do at least when I look at how other startups have begun. This is all pretty new to me, but I'm trying to absorb and self-teach as much as possible, and asking for help where I feel like I need advice or suggestions.
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Jun 9, 2020 22:16
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I will say that trying to do a startup that needs significant VC, without ever having worked in a startup before, makes it an additional challenge. Potential VCs will not only be evaluating your ideas, but your ability to execute given funding, and if you have no track record, you will need to find a partner who does.
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Jun 9, 2020 22:19
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Leperflesh posted:I will say that trying to do a startup that needs significant VC, without ever having worked in a startup before, makes it an additional challenge. Potential VCs will not only be evaluating your ideas, but your ability to execute given funding, and if you have no track record, you will need to find a partner who does. I'm hoping I can avoid VCs for the time being and focus on bootstrapping the funding via angel investors that are interested in working with me already. I've already calculated estimated operating cost for the initial startup, and I'm prepared to fund it personally myself if need be. Still need to do proper research on these types of funding arrangements though to protect myself and the company. I appreciate the info you're giving me though, it's super helpful and I'm definitely taking it to heart. ceebee fucked around with this message at 22:35 on Jun 9, 2020 |
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Jun 9, 2020 22:32
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I'm not a lawyer, just a shitposter who once worked in a pre-IPO startup. The biggest killer of startups is undercapitalization, not "didn't have good enough ideas." The second-biggest is mismanagement. While you do need a good idea for your business, that's just a starting place and not the primary determinator of success.
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Jun 9, 2020 22:45
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ceebee posted:I'm hoping I can avoid VCs for the time being and focus on bootstrapping the funding via angel investors that are interested in working with me already. I've already calculated estimated operating cost for the initial startup, and I'm prepared to fund it personally myself if need be. Still need to do proper research on these types of funding arrangements though to protect myself and the company. I appreciate the info you're giving me though, it's super helpful and I'm definitely taking it to heart. Not sure what part of the country you're in, or your age, but also go take a look at whether your local university has an incubator or similar school/test bed for startups. Its often where local angel investors look for organized, energetic, and skilled startup candidates and there're often local law firms that'll work with the incubator to provide basic information about legal requirements so you're not just using LegalZoom.
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Jun 9, 2020 23:01
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i love to post about my crimes on the internet. i just can't stop doing it. how strong of a defense is "i was only shitposting"?
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Jun 9, 2020 23:06
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owlhawk911 posted:i love to post about my crimes on the internet. i just can't stop doing it. how strong of a defense is "i was only shitposting"? The answer is literally 'a jury will decide'
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Jun 9, 2020 23:12
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Just start each list with 'hi I'm permamabanned poster.....' then no one will know it's you Also not a lawyer but if you use the header. 'any law enforcement agent stop reading now as this is against the user agreement'. Then you are safe. They have to stop.
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Jun 9, 2020 23:13
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This post is for educational purposes only.
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Jun 9, 2020 23:49
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ceebee posted:Who said I'm trying to get licensed content? If you just want to be complacent about massive monopolies taking over both user generated and commercial entertainment all over the world that's fine. I'm just not going to sit back and watch. I think the point other posters are trying to make is that regardless of your business idea, you're probably going to need 9 figures, 8 minimum, if you want to have a streaming platform and have people use it. Most of the new successful entrants are major networks creating their own streaming service so that they can cut out Netflix / Amazon. There's a zillion tiny channels on Roku that no one knows or cares about, that likely have the same hopes and dreams you're expressing. If you have someone who is willing to give you a check for millions of dollars sight unseen, you should probably see if you sit down with them to discuss business, not just ideas.
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Jun 9, 2020 23:50
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If you're willing to provide your own content you could utilize an existing streaming service like chaturbate.
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Jun 9, 2020 23:57
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Outrail posted:If you're willing to provide your own content you could utilize an existing streaming service like chaturbate. You're going to need really massive tits/a really magnificent dong to compete with Netflix, though. vvvv Bandwidth and storage costs seem like one of the smallest concerns with what you're planning, but what do I know. Sir John Falstaff fucked around with this message at 00:32 on Jun 10, 2020 |
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Jun 10, 2020 00:11
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Arcturas posted:Not sure what part of the country you're in, or your age, but also go take a look at whether your local university has an incubator or similar school/test bed for startups. Its often where local angel investors look for organized, energetic, and skilled startup candidates and there're often local law firms that'll work with the incubator to provide basic information about legal requirements so you're not just using LegalZoom. Solid advice, thanks! I'll definitely check this out. I'm refining my business plan for SBA applications into potential small business loans or government grants to see if those are viable options as well. People telling me I need 8 or 9 figures worth of money to start this crack me up. Thanks for the chuckles. Obviously I'm not going to be able to financially compete with monopolies but I'm sure as hell going to try with my limited means. There's a massive difference between why they do what they do, and why I want to do what I want to do. Bandwidth and storage is getting cheaper and cheaper by the minute thanks to the cut throat competition happening between the Big Guys. I'm just going to take advantage of it. Got the results for my trademark search back: Very high risk 0 High risk 1858 Medium risk 26 Not too shabby I guess? Gotta talk to a lawyer to proceed further. ceebee fucked around with this message at 00:17 on Jun 10, 2020 |
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Jun 10, 2020 00:13
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Mistakes you made at the incorporation stage, but discover down the road, can be orders of magnitude more expensive than an "expensive" lawyer up front.
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Jun 10, 2020 00:16
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ceebee posted:Got the results for my trademark search back: Congrats you didn't choose Nikeflix
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Jun 10, 2020 00:20
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homullus posted:Mistakes you made at the incorporation stage, but discover down the road, can be orders of magnitude more expensive than an "expensive" lawyer up front. I agree. I will spend the money on qualified professionals to assist me when I need it. And I'm not discounting live lawyers, that will be my 2nd step for sure. Devor posted:Congrats you didn't choose Nikeflix Haha I know right?
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Jun 10, 2020 00:31
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Just don't not post what comes of this, rain or shine
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Jun 10, 2020 01:12
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Don't worry y'all will get front row seats to my path to homelessness.
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Jun 10, 2020 01:14
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ceebee posted:People telling me I need 8 or 9 figures worth of money to start this crack me up. Thanks for the chuckles. Obviously I'm not going to be able to financially compete with monopolies but I'm sure as hell going to try with my limited means. There's a massive difference between why they do what they do, and why I want to do what I want to do. Then please explain how you'll be different than a generic unloved Roku channel, most of which have some sort of actual content rights to something already. The fact that you are looking to self finance in this space and in this climate are gigantic red flags. Have you had VC offers? Have you tried? Id' be trying that just to see if this is even possible/sustainable when those SBA loans run out to see if you have a path to more runway. (hint: you're making it harder if you start out with SBA loans to get VC funding later). homullus posted:Mistakes you made at the incorporation stage, but discover down the road, can be orders of magnitude more expensive than an "expensive" lawyer up front. This a million times. I've seen it way too much.
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Jun 10, 2020 01:53
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Dude hate to be the bearing of bad news but you are going to need $50k+ in attorneys upfront just to get your idea off the ground, probably on IP attorneys alone if you got that many hits on whatever you ran, you are not going to get angel investors or any serious investors if they ever learn you incorporated thru legal zoom and not in a business friendly state like Delaware or Nevada, probably another $10k retainer on a business formation attorney just to satisfy any due diligence your investors might due, plus a CPA and a tax attorney on top of all of that. You’re not a tech startup with some new software or app, you’re trying to break into a very established market against some of the biggest corporations in the world More power to you, and good luck in all honesty, but I don’t see you self-learning your way into beating YouTube And these are absolute bottom figures. I’d ask for $10k upfront as a retainer just to set up a simple llc because businesses fail constantly and attorneys exist to get paid. EwokEntourage fucked around with this message at 03:42 on Jun 10, 2020 |
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Jun 10, 2020 03:40
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ask lowtax to be a silent partner. he can give you solid backing
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Jun 10, 2020 06:11
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Especially if you're trying to set up a streaming cervix
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Jun 10, 2020 06:29
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tater_salad posted:Are the above points listed by the party known to us as "Zero VGS" actual real life events that have occurred, or are they some sort of hyperbolic troll set forth by "zero VGS" in order to provide some humor on these homosexual deceased internet posting boards (forums).  The bloodthirsty sign in question: 
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Jun 10, 2020 07:21
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I had a legal zoom incorporation cost a client $325,000.00. Now, in fairness, they saved almost $1,000 up front by using legal zoom, so it really only cost them $324,000.00.
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Jun 10, 2020 14:21
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It's all good, if I can't make it I'll go broke trying.blarzgh posted:I had a legal zoom incorporation cost a client $325,000.00. Now, in fairness, they saved almost $1,000 up front by using legal zoom, so it really only cost them $324,000.00. Why did this happen? What caused that?
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Jun 10, 2020 14:29
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blarzgh posted:I had a legal zoom incorporation cost a client $325,000.00. Now, in fairness, they saved almost $1,000 up front by using legal zoom, so it really only cost them $324,000.00. No TVM calculation? I expected better
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Jun 10, 2020 14:37
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Hoshi posted:No TVM calculation? I expected better From a lawyer?
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Jun 10, 2020 14:42
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ceebee posted:Why did this happen? What caused that? It happened because they used legal zoom to incorporate instead of hiring a lawyer to properly structure the corporate entity in a way that would avoid the later unpleasantness.
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Jun 10, 2020 14:45
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pseudanonymous posted:From a lawyer? You'll find it actually only cost the client $323, 970.58!!
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Jun 10, 2020 14:51
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homullus posted:Mistakes you made at the incorporation stage, but discover down the road, can be orders of magnitude more expensive than an "expensive" lawyer up front. i think that all the discussions on how much money you need are not useful, but this is if you are looking to take investments from people, you need the corporate structure set up right and those investments documented correctly. you do not want any ambiguity over who owns what, your ability to take new investments, rights of investors, etc.
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Jun 10, 2020 15:02
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Well, I'm glad I incorporated in Delaware. Always can count on YouTube for some self teaching Also I'm not solely going to use LegalZoom, I just wanted to get this done quickly and affordably for now. Before any growth of the business happens I will be consulting with a lawyer to comb over my existing paperwork. I do plan eventually on taking potential investors but it's not my priority right now, just starting the business and getting it rolling. Also, I quit my job for this. I mean, technically I quit it to do streaming and/or youtube full time but I'm just not a fan of how those platforms work in regards to paying content creators so I'm creating my own. I've got plenty of safety net for myself so I'm not really that concerned, and I can always take contract and freelance work if I need additional funds. Thanks for the info though guys, despite the skepticism I'm still very excited and optimistic about this. I didn't get to where I'm at right now by listening to the people telling me something is too hard or too expensive to do. ceebee fucked around with this message at 15:17 on Jun 10, 2020 |
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Jun 10, 2020 15:14
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ceebee posted:I didn't get to where I'm at right now Unemployed?
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Jun 10, 2020 15:31
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I don't think anyone has said that it is too hard or too expensive, just that it will be much harder and much more expensive to do it wrong. On the other hand, lol at bandwidth and storage getting cheaper. Those are like the two things I've never seen decrease on AWS.
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Jun 10, 2020 15:34
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So you're not wanting to compete with netflix - you're wanting to compete with youtube and twitch? While that may save you hundreds of millions in up front licensing costs, there are a lot of legal pitfalls you have no idea about because you're just trying to 'get this done quickly and affordably for now.' The problem with that line of thought is a good chunk of the work you're doing now is potentially wasted, and to correct said waste later on is magnitudes more expensive. You need a lawyer now to ensure your business is properly structured and that you have contracts in place to cover your rear end when one of your streamers starts talking about killing the president or something dumb like that. This is not even touching on the fact that you have a desired brand name that is going to potentially run afoul of existing intellectual property rights. While I commend you for quitting to pursue your passion, you need to start with a proper foundation. Think about it like building a house. If you're using a slab foundation and you don't get your concrete poured correctly, the entire building will be compromised. It doesn't matter how nice of a building you put up. The lovely foundation will settle/split, and your house is going to need major repairs or to be rebuilt entirely. If your business plan is sound, you should be able get loans or a line of credit to set everything up and start initial operations. You should use that money to pay for professionals to do the things that you are not licensed to do. If nothing else, you should do it as insurance so you have someone else to sue when a problem comes up in the future. This also goes for coding and hardware/software setup & security, too. Or just keep using youtube to figure all this out and become the groverhaus/bathdoom of streaming platforms.
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Jun 10, 2020 15:34
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Zero VGS posted:
I hope this doesn't get overlooked in video streaming startup chat because I am craving some juicy eviction stories
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Jun 10, 2020 15:54
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Zero VGS posted:
It's a good thing this was a standard sign bought at a store, because they can sue the maker of this obviously dangerous product.
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Jun 10, 2020 16:07
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ceebee posted:Well, I'm glad I incorporated in Delaware. Always can count on YouTube for some self teaching Real quick, where are you even planning to host this stuff? Are you going to stream from your windows home server using your residential internet connection?
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Jun 10, 2020 16:14
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ceebee posted:Well, I'm glad I incorporated in Delaware. Always can count on YouTube for some self teaching Just tell us the business plan at this point.
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Jun 10, 2020 16:24
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