Day 80 - Security and Economics

Security Insight

My day began by visiting the V2 Security Expo and Conference. Although the event spans two full days, given the upcoming final pitch, I opted to attend only this morning. It turned out to be a wise decision; while there were interesting talks and companies present, dedicating two full days would have been too much. As a CTO, I have many concerns, and most of the things presented here were too narrow for our current needs. Nevertheless, the conference provided a good overview of the Danish market and give me the opportunity to meet industry contacts and friends.

Financial Fine-Tuning

After leaving the conference around noon, I met up with the team at BLOX to focus on refining our financial projections. There had been ongoing discussions with our advisors regarding the details of our unit economics. Questions about churn rates, the proportion of organic versus paid traffic, the cost of acquiring paid traffic, and conversion rates needed to be answered. Even minor adjustments to these figures can have an huge impact, particularly when considering our seven-year forecast, where these variables compound over time. To be a compelling investment case, we needed to defend our assumptions and the resulting projections. Addressing these concerns and aligning them with our business plan and fundraising strategy took most of our time today.

Coaching Session

In the afternoon, we had our final coaching session before the final pitch. We had a long list of questions prepared, spanning economics, competition analysis, pricing strategy, and technical aspects. Fortunately, we got a few extra minutes during the call, allowing us to get through all of our questions. I'm curious about the impact our coaching sessions may have on their assessment of our company when they are discussion a potential investment. While I believe we've made swift progress, implemented feedback effectively, and demonstrated growth, my perspective is biased. I guess we will have an answer next week.