20VC Exclusive: Fast's Domm Holland on What Really Happened at Fast? Were they really Burning $10M per Month? Where did Bolt Succeed Where Fast Did Not? What is It Really Like To Have Stripe Invest in your Company?
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 637 Ratings
🗓️ 13 April 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
Domm Holland is the Founder and CEO @ Fast.
Last week Fast announced they would be shutting down the company.
In this exclusive 20VC episode we discuss:
- What really happened with Domm's towing business in Australia?
- What are the 1-2 biggest mistakes made at Fast?
- Why has Bolt worked in a way that Fast has not worked?
- What is it like having Stripe as an investor in your company?
- Could the board have done more to prevent what happened at Fast?
Transcript
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| 0:00.0 | This is 20VC, The Memo, with me, Harry Stebings, and as you know, the memo is where we focus on a |
| 0:04.3 | specific company and bring their story front and center. Now, Fast is likely one of the most |
| 0:08.7 | discussed and written about companies of the last month, with their recent closing slash |
| 0:12.6 | aqua hire. But the one thing that none of these articles or publications have, the voice of the |
| 0:16.9 | founder. And so today, Dom Holland is joining me in the hot seat for an exclusive to discuss |
| 0:21.1 | what went wrong, what statements reported are true, which are false, what's it like having |
| 0:25.1 | Stripe as an investor, and so much more. I want to say a huge thank you to Dom for this one. |
| 0:29.1 | It's a really tough time. We do need to celebrate failure still today, and he was great with |
| 0:33.6 | my prying questions, and so a huge thanks to Dom for giving up the time to stay to do this episode. But before we move into the show today, for the challenges you face as a startup founder, |
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| 1:00.3 | Learn more and sign up at startups. Microsoft.com. And speaking of amazing resources like Microsoft |
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