An Open Letter To The VCs Who Invested in Clubhouse.

Derick David

Facebook groups are probably better.

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Photo by William Krause on Unsplash

In the light of events, Clubhouse and team. raised another round of funding that puts the 1-year-old tech company’s valuation to 4bn.

The question is, is Clubhouse really worth 4 billion dollares?

Remember when people were desperate to get a Clubhouse to invite?

Now the same people who are already on the platform are failing to see the long-term appeal.

“I think the initial FOMO about getting a Clubhouse invite and trying it out has ebbed away,” social media analyst Matt Navarra told CNBC.

Elon Musk got me to sign up for this.

My friends from Apple got me to organize a room.

Farokh made me almost delete the app.

And I’m not privy to the details, but the massive red flag for me was the feeling of being sold on something and that almost everybody is just looking to level up their clout.

Am I being sold?

Nobody likes the feeling of being sold. It’s inauthentic.

Although, I liked the fact that you can speak with almost everybody in the room and without having to worry about how you look.

That’s great. Maybe, that alone is worth 4bn.

But then in our world driven by the word “fake”, “filters”, and “friend”, we should aim to find a way to bring casual authenticity back.

Don’t get me wrong, I’m not speaking in entirety because I strongly believe there are 6 rooms out of 1000s on Clubhouse that are having fun and real conversations pretty much about life.

I think they forgot the part where people go to a Club house because it comes with food and drinks after the event.

Maybe they could do that.

Take a page out of TikTok’s playbook

TikTok is the perfect social network for creators, influencers, marketers, entrepreneurs, and moms.

But they don’t have the network that comes from corporate life and politics and an Ivy-league education to keep TikTok’s users engaged.

Do investors nowadays really invest more in people and not in products?

Gone are the days where literal geniuses like Mark Zuckerberg or Sean Parker ruled the Valley and became the coolest people in America.

We’re not only talking about charisma, the ability to engage in manipulative tactics, and pretty suits, but also the intellectual and creative capability.

They grind away every day to solve the world’s problems and try to create a sustainable business out of their solutions.

Now, do we write checks to founders because they’re making something cool?

Facebook groups are better than Clubhouse

The truth is that investors could easily stop wasting and start making more $500k and $10M investments into promising early-stage founders that solve problems or at least that makes people’s lives easier in any way.

Is it because of the clout? Making connections? Establishing a brand? Knowledge?

Yeah, Facebook groups are probably still the best for those.

But no one wants to speak with people that probably don’t care about them.

It’s easier to jump on the funding bandwagon as soon as one big name joins the round and then hope to ride the coattails.

Show us a better value proposition. Maybe by stating,

#1 Drop-in video chat for entrepreneurs and creators or for people who want to change the world.

Or else this will fade away as fast as GenZ’s do it for their Tinder matches.

But for what it’s worth, we’ll hope for the best

Seriously, if anyone is interested in discussing further, let me know.

Maybe, together we can make a better version of Clubhouse and make tons of money as well, as Facebook did to MySpace.

It will take lots of small investment dollars, and lots more work hours, but we can make it happen.

👋 derick@hikre.com

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