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"They graduated from the Y-combinator program, a hotbed for innovative products and ... a source for a lot of our Forensics videos." Ahahahaha loved the shade there.
We are currently raising ourselves and were thinking about applying to Y-Combinator. But they want you to move to New York to attend the program which skyrockets your burn rate.
Loved it. Those programs are full of crap and cater to the very elite IMO. It's like attending Harvard (it's just about having the degree with the name "Harvard" on it). They usually don't equate to success unless the graduates are looking to work for someone.
I had the same decision when doing grad school overseas and went for the Boosted. I can take the board home with me on a flight, I can't bring a car with me on a flight.
Dude, just buy a regular longboard. Half the fun is the push, getting exercise with your homies. Using a throttle is soooo much less engaging, it’s basically cheating. I get it if you are just trying to get from point a to point b quickly, but you’re missing out on all the fun of actually skating
@@HieronymousLex I have multiple and was really into it for years. I wanted a boosted board to commute to work which would have been a full workout if i had to push
Gross company overspending. People think they'll never fail, live like kings for a while and then realize they're fucked when they product begins to collapse.
@@TheSocketshock all given free and he was also flown to the west coast from NY and maybe even got an extra payment on top of the free boards and flights
One thing you did not mention is that Boosted was mainly relying on the US market. Their boards did not meet legal requirements in Europe and hence they were not allowed to sell here. The US tariffs would have not had any impact on European sales. A good lesson that new the and big money are not always on par for success.
they can't lower their price because they have American labor. if they did, they'd sell at a loss. there are electric skateboards that come from asia that are lower priced while having better controllers.
boosted boards and electric boards in general are unaffordable, this is why they fail. you can buy an old motorcycle for the same price. if boosted boards were 400 dollars id buy one in a heartbeat
1Lifeoneearth: don't you need a motorcycle license and insurance to ride on the streets ? Not to mention, paying city taxes and finding a place to park it ?
@@tomservo5007 and fuel. Which can be expensive depending on where you live. Overall, a skateboard is cheaper but has far less range than a motorcycle, and you'll probably own the motorcycle for longer
@@gcg8187 its the way to go i bought 3 eboards finally built my own and now the halo board, onsra, and boosted board sit in the closet because they are poop compared to the diy
@@Johnnyy832 hell make it 5 dollars and everyone would have one. It doesnt work like that the kind o lithium ion batteries taht they use are very expensive.Not only that but batteries chemically age and become terrible after 500 cycle or so. Just get a bike.
The biggest thing that caused them to fall was the price for sure. I am sure if there was a budget version, kids would go crazy for them. As a 12 year old I know i would've begged my parents for one, if they weren't $2,000
Or maybe make an unboxing video of it with a cringe thumbnail. Or make a UA-cam video about how it started. Which basically requires reading some articles and Wikipedia page. Definitely cheaper and low risk than making a movie.
I have to say I think things really started to go to shit when Sanjay left. The original CEOs knew what they were doing, knew their product and the market and weren't concerned with overstepping their bounds. Look at one wheels, huge market, made in the USA, quality control and customer service on point. They make a stand alone product that is good enough to support an entire company. Boosted could have gone so far, I love my board, i miss the company and I really do hope they come back..
Had the chance to sit down and talk with Sanjay and I think pretty much all of the original team would agree with you. They’re absolutely stand up people, and I have a lot of faith in their current projects.
He probably left because he realized the downfall was inevitable. This kind of niche, fad products never last nearly long enough to keep a company running. Even if the initial demand is high, as the hype wears of and the potential market gets saturated, your basically left with a hard to predict and fast dwindling demand. Just ask the guys at the beanie babies company.
tea that's just untrue, the demand was in fact there. There are thousands of boosted products circling the market, in use, right now in both the USA and even foreign countries. If you look at boosted USAs website theres people buying boards literally every day. I think the main problem was affordability; I cant tell you how many: "I wish i had a boosted board but their so expensive" comments I've seen over the years. People want them, but theres only a niche group of consumers willing to fork over 1000+ for a quality eboard. That being said had boosted kept manufacturing within the USA, cut down on their staff initially, not poured all their money into that stupid rev scooter, and worked on making their products more affordable for general consumers... they'd probably still be around.
I love my boosted board man. I’ve been able to ride from Morris Park to City Island and back (and hit a ton of bike trails) on a single charge. It gets me to work when I don’t feel like driving. Kinda sad to see them go out this way.
Perhaps a new feature in your videos could be: What could they have done to prevent a collapse? And\or was there a particular moment of inflection upon which failure and success hinged?
@@DanielDiaz-by7fc well for starters the business plan was to recruit a guy with 4 subs on his channel. 3 people from his family and the 75 year old Indian guy that accidentally subscribed since he had bad eyesight and rheumatism.
Just a suggestion, but I think that saying “Thank you for watching!” on almost every comment is just the same as not commenting on any but w a whole lot more effort. I think it’s great that you are willing to put that effort in, but maybe only reply to something if it’s relevant to the comment and/or give it a like if you want. Just my two cents, but great video anyways!
He's probs running a bot in order to fulfill the "interact" with your users part so UA-cam algorithm makes his channel and videos more popular. Although it looks like he did see your comment and added more response types to his bot lmao.
We appreciate your feedback, Jack. This is actually a human manually replying to the comments, even the "Thank you for watching one" (hi 👋). We're happy to say that the channel has grown so much that we're not able to do that anymore in a way that doesn't feel "bot"-y. We'll keep closely reading your comments and replying to just a few. Welcome to the channel 🙂
JFrost wow look guys JFrost just solved the problem that ruined the company! Somebody hire him. JFrost i see your future being bright if you keep it up with these amazing, innovative ideas that will help companies stay afloat! I cant believe nobody thought of this at boosted board!!!
@@connorendres4544 Uhhhh not sure why you're being a j-a. It's simply two different approaches a company can take. High price, low volume. Or low price, high volume. Other brands are doing this latter and are staying afloat. And even a UA-cam commentator can see that going in the highly competitive market of scooters should never be your bread and butter. That development is even being subsidized by all the rental scooters. I mean what would have been Boosted's next idea? An Android phone?
I think it's important to note that with regards to their failed scooter, that happened to be right around the time bird and lyft scooters were getting big
Fun fact, sanjay and Matt moved on to a new company called waybots (renamed skyp) Where they rented out scooters just like byrd or lime. They had to close down operations for quite some time after they had the exact same battery fire problem. They also hired an absolute nincompoop to run DC operations named Rob. Rob was an imbecile. Source, I was a consultant and I declined a contract renewal once Rob was brought on board.
People have been dreaming for generations of things like VR and electric skateboards. But the practicality and cost of these items when they arrive is a whole other matter.
Personally I think they should've stuck with the boards and perfecting them for the time being. Then they could expand their product range. I think this and the hiring of the CMO, VP's, manager that were really unnecessary at this point in time in their company, was their downfall..
Okay so i bought a Boosted Board about two years ago now, saved up all summer to get one. This shit was my first car before i had a car, i rode it/ride it everywhere. It crushes me seeing they went under, yes it did cost me $1200 but its literally the most fun product ive ever owned.
Rhino 8010 some are well made and some aren’t. That’s obviously due to some crappy manufacturers. Like I said the majority of our stuff is made in China due to the low cost.
"make really really really really cool logos, then make hundreds of stickers and slap them onto Chinese products, you'll be better off" HAHAHAHAHA MY THOUGHTS EXACTLY.
I'm Indian Entrepreneur and Big fan of Caya, We call it call you Maya, Caya! It means Money 💰 in our language. These videos are so helpful to learn from real things, real stories thank-you for these content that too for Free, Every Week. And I tried your platform recently "Slidebean" Amazingly Designed, saves time and really affordable. Thank you so much Caya and Team Slidebean Regards Harsh and Team TGIWC.
Thank you for watching! "Maya Caya" sounds awesome! We're glad Slidebean has been helpful to you. In case you haven't, you're welcome to join Caya and other founders on Discord slidebean.com/startup-cafe See you there! 💙
Aren't scooters and skateboards an interior good, even if they're meant to address the last mile transportation. The more income someone earns, the more likelihood they'll buy a car, unless the consumer focuses on sustainability, which in itself would reduce the market size. Add to that the high price and you reduce the market even more
I honestly think there are product categories where you shouldn't push so hard to scale. Boosted would likely still be profitable with a smaller workforce - 160 employees with a large percentage being engineers means a brutal burn rate.
You learn more about business from videos like these than you would from school/college/university. Lack of quality, non-extensive/intensive testing, high production costs, weak marketing methods, terrible management personnel... Just goes to show that running your own multi-million pound business isn't a walk in the park, no matter how much money and planning you throw at it, there will often be something you miss, and that can cause the entire business to collapse.
I still ride my V2 everyday. So dependable and fun that I forego my car for shorter commutes. Nothing beats zipping down the road on one of these things.
i would really love a video about the "Amino app" it has raised over 72 million dollar in such a short time and it has a lot of communities but problems already started to show up so i think we're gonna see another start up failure
I have an Evolve skateboard, there is a shop in UK. I believe they are an Australian company. The new boards are also water proof, not that you should be riding in the rain though.
Exactly. I'll buy a Backfire or Exway product long before I buy boosted. I've heard way too many things about the range on Boosted boards and it doesn't sound like they're worth the price...
I build electric skateboards. The parts cost me around $150 for a dual hub. 32v battery. Decent controller. A company selling their boards for 1k+ was never going to work in the market for long.
Caya said "They graduated from the Y-combinator program, a hotbed for innovative products and ... a source for a lot of our Forensics videos." but that part of the video seems to have been deleted since then. If you look at top comments you will find in the subcomments a response from Garry Tan saying "Not classy"
Yes that is corect motorized boards were around before boosted boards. I remember motorized skateboards from more then 35 years ago, they had a small gas engine on them, and a cable with throttle.
Why startups fail? Overvaluation. That is it. Nothing complicated. More money, more problem. VCs have cash to burn and founders don't care about the sustainability of their businesses. Say, you have a business that you know is worth $100 and you think with all the luck in the world you might generate $10 annually. VCs say, How about you take $1000 dollars and invest in your growth and other things because you are a genius founder and you have tonnes of engineers. You try and try and but you can't come up with anything better , then the VCs come again at the year end. They will shower you with more money because the culture of SF is expenses aren't loss they are investments. Then somewhere along the line they draw an arbitrary line and come to the realization that the startup isn't worth shit any more . They could have made more money by buying treasury bonds or some shit. Now they are going to give the execs and the founders a sweet exit package and they will try to either issue an IPO or lay off everyone.
when you get so much money you start to blow on alot of stupid things . to run a scooter company or a skateboard company does not cost a billion dollars to run or even scale. you can do the samething on a smaller scale, without investors.
The thing is none of these products are really better than a regular bicycle - they’re mostly cheaper, can be just as fast, you don’t need to charge them, they won’t go wrong in the wet, they’re very safe, fairly easy to maintain, you can carry luggage on them if you want, there’s bike shops everywhere - bikes are great! All of these products are trying to fill a niche that’s been filled perfectly for the last 140 odd years.
So many companies take the Apple approach and deliver extremely high quality products for a very premium price, which totally works, unless 1) something happens and the product suddenly becomes unreliable and 2) the products aren't widely used and advertised. The reason Apple works is because everything, generally speaking (minus the bending problems) works flawlessly AND more importantly phone plans allow them to be widely accessible to the general public. If everybody who wanted an iPhone had to pay the $1000-$1500 out of pocket then iPhones wouldn't even be close to as popular. Also, obviously, more people use smartphones than skateboards and scooters but you get the point.
Not exactly copies. China takes the core tech/ general idea then each factory adds or subtracts their own ideas. That’s how they make a cheaper/better or generally more desired product. A lot of people think China only makes cheap crap that’s incorrect, they will make anything you want. If you want a keychain it’s up to you to choose what kind of metal , brass is more expensive than other metals and theirs thousands Of combinations available, product makers choose cheap shit because it turns out that’s what people love. Cheap shit. Many times on multiple steps makers can choose for higher quality fabrication and parts manufacturing but don’t because that’s not what the market is demanding. The real money is in making a better cheaper product not turning out exact copies.
I feel like with lithium batteries, isolated incidents of overheating are just the name of the game. It's like when a truck's brakes fail, it's terrible, its inexcusable, but even with the best design and quality control, its gonna happen eventually.
I confirm, I got hooked on esk8 because of Casey, though I was into small electric vehicles long before. It really surprises me that the company has failed, I wasn't up to date on what happens to them but I was sure they are doing great then boom company shutdown, whaat?
I think they started to fail because more and more cities got cheap, easy to rent, electric scooters. All of the sudden You didn't need to OWN the super expensive mode of transportation and didn't have to worry about lugging a 45lb scooter around when you're not using it.
The problem is that premium priced products only sell to countries like the US, Canada, and EU countries. The rests of the world have options that are, although of lower quality, still very descent. Plus, they're aggressively priced to be significantly cheaper. Quality alone cannot guarantee sale.
They had 150 employees?!?! A small market, luxury item had 150 Employees?! No wonder they failed. Holy crap. They were never going to sell enough to pay that staff.
After watching Casey’s vlogs for years I finally got a boosted board. I loved the board and was obsessed with it for a month. I rode it nearly every day on my short 3 mile commutes to work & the gym(I rode skateboards for years as a kid). One day i was taking a turn as usual & on the street there were broken pinecone pieces as usual. I’ve ran over the pieces normally even at (20mph) no problem, but this time one wheel got caught & flung me forward nearly 10ft at 20mph. Due to my gentle grace (practice from falling in football) I rolled the best I could over my shoulder into a seated position. There was a 0.5inch deep gash in the middle of the crown of my helmet and I got a bunch of gashes on my elbow, shoulder, and hip. I returned the board.
Me as CEO of boosted: before release do extreme testing probably try to replicate a 5 year usage (at least) ..been pondering on this market for a while myself ,my proposed named for this is POWER BOARDS
The reason boosted failed is because their market is skateboarders, who are inherently resourceful and will not spend money unless they feel like they have to. If boosted wanted to be successful they should have started their models at 500$, considering a actual skater will not spend more than 250 tops for a normal board, expecting them to pay 1000$ for something you cant even really do tricks on is just unrealist. Therefore their market was a very wealthy group of skateboarders who have enough money. Not to mention most skateboarders are teens who are broke already. Great product, terrible execution of markets on Boosteds part.
I had a Dual+ a few years ago. Two things made me stop. It was super-heavy so it made it awkward and a pain when I had to walk (friends, crowded areas, and a lot of places that don't want you boarding around their property). And I found the fanbase REALLY annoying.
Thanks for watching!
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Make a case study on Brompton
great channel dude
That was not the real Rick Ross. That is the guy who stole the name if Freeway Ricky.
One word why Boosted blew up originally: Casey.
Thank you for watching!
Facts
Casey is the reason why I got interested in electric skateboard, and bought one but not from Boosted
I don't think it's exaggerating to say Casey is responsible for 99% of their success, haha
John Hill hi john hill!
Lmao I wasn't even aware Boosted failed
Thank you for watching!
Me neither, I just remember Casey Neistat being all about it a few years ago
Me too
@@ThomasW215PHL just prooves nobody should listen to youtubers
theyre still selling still of their website, Im kinda confused
"They graduated from the Y-combinator program, a hotbed for innovative products and ... a source for a lot of our Forensics videos."
Ahahahaha loved the shade there.
Thank you for watching!
We are currently raising ourselves and were thinking about applying to Y-Combinator. But they want you to move to New York to attend the program which skyrockets your burn rate.
Not classy.
Loved it. Those programs are full of crap and cater to the very elite IMO. It's like attending Harvard (it's just about having the degree with the name "Harvard" on it). They usually don't equate to success unless the graduates are looking to work for someone.
@@GarryTan why? Y-Combinator passed company had success but there are lot of failures as well. Like lot.
I was so close to buying a boosted board but couldn’t rationalize spending the equivalent of a used (bad) car on a longboard.
You could get an old decent Corolla
Seriously! I bought a decent 02 does Taurus for a couple hundred more than a boosted board
I had the same decision when doing grad school overseas and went for the Boosted. I can take the board home with me on a flight, I can't bring a car with me on a flight.
Dude, just buy a regular longboard. Half the fun is the push, getting exercise with your homies. Using a throttle is soooo much less engaging, it’s basically cheating. I get it if you are just trying to get from point a to point b quickly, but you’re missing out on all the fun of actually skating
@@HieronymousLex I have multiple and was really into it for years. I wanted a boosted board to commute to work which would have been a full workout if i had to push
If somebody would have told me that Boosted was going to fail a year ago I would have laughed
Unbelievable, right?
Not that hard to see, niche market, expensive toy, first to market, prime to be undercut by competitors etc, started off Kickstarter lol etc.
Gross company overspending. People think they'll never fail, live like kings for a while and then realize they're fucked when they product begins to collapse.
Then a certain virus happen
AwkwardYet The coronavirus didn’t kill them. They killed themselves.
Casey Neistat was their biggest 'Marketing Expense'.
he had like 10 of them lmao
Expense?
@@TheSocketshock all given free and he was also flown to the west coast from NY and maybe even got an extra payment on top of the free boards and flights
One thing you did not mention is that Boosted was mainly relying on the US market. Their boards did not meet legal requirements in Europe and hence they were not allowed to sell here. The US tariffs would have not had any impact on European sales. A good lesson that new the and big money are not always on par for success.
Thank you for your comment! Interesting!
Maybe If the price wasn’t so high more people would buy them lol
Thank you for watching!
they can't lower their price because they have American labor. if they did, they'd sell at a loss. there are electric skateboards that come from asia that are lower priced while having better controllers.
What about the Iphone price?
Price is not the issue
Joel Schembri Which is why IPhones arent selling in the UK?
@@itsnotthathard1201 you use your phone all day every day. This is a skateboard
The series should be on Netflix. One day....
🤞🏻
So it can be killed off after two seasons?
This is already better
I feel like this is exactly what fits on UA-cam to be honest
I mean.. UA-cam is bigger and more popular so going on Netflix would be a downgrade and probably the death of the show.
boosted boards and electric boards in general are unaffordable, this is why they fail. you can buy an old motorcycle for the same price. if boosted boards were 400 dollars id buy one in a heartbeat
Well.. they actually are. Check meepo, they've done some decent boards over the last 2 years and continue to do so, with a decent pricing.
1Lifeoneearth: don't you need a motorcycle license and insurance to ride on the streets ? Not to mention, paying city taxes and finding a place to park it ?
Agreed
@@tomservo5007 and fuel. Which can be expensive depending on where you live. Overall, a skateboard is cheaper but has far less range than a motorcycle, and you'll probably own the motorcycle for longer
@@tomservo5007 and the fact that a motercycle isn't portable, in a sense where u can bring it with you on a train.
Boosted was always a joke. You can buy electric boards with more range and power for half the price. They were the Apple of skateboards.
I noticed this when looking into these. Saw a lot of much better or just people straight up saying to make your own.
@@galacticgore5163 im not gonna make my own wtf
@@gcg8187 You buy a few parts and build it. You'll learn a shit ton while at it
@@gcg8187 its the way to go i bought 3 eboards finally built my own and now the halo board, onsra, and boosted board sit in the closet because they are poop compared to the diy
@@gcg8187 its so freaking easy to make lmao
Create a cool logo and slap it on Chinese products? Sounds like Kickstarter.
I think they did more than that.
*CHYYYNA!!!*
awesome idea
This was the opposite of that, hence why it failed
More like dropshipping.
My dad has a power board from the 70’s.
It was amazing. It was basically a weed eater on a skateboard with off road wheels. Amazing
5:20 "Your arm sounds very healthy sir"
If you're curious, one holds a stethoscope to the forearm to check distal pulse strength and blood pressure.
i remember really anting one, if they made it 500 or someshit it would have been best selling
The skateboard one is 550
Hell make it 250 and everyone would have one.
Can anyone if they know link a good reliable electric skateboard/longboard preferably not 800 damn dollars for a skateboard
@Steven More like $130 but yeah
@@Johnnyy832 hell make it 5 dollars and everyone would have one. It doesnt work like that the kind o lithium ion batteries taht they use are very expensive.Not only that but batteries chemically age and become terrible after 500 cycle or so. Just get a bike.
The biggest thing that caused them to fall was the price for sure. I am sure if there was a budget version, kids would go crazy for them. As a 12 year old I know i would've begged my parents for one, if they weren't $2,000
1. Stop running a startup,
2. Make a movie out of this,
3. Get rich,
4. Come back and see the next video...
Or maybe make an unboxing video of it with a cringe thumbnail.
Or make a UA-cam video about how it started. Which basically requires reading some articles and Wikipedia page.
Definitely cheaper and low risk than making a movie.
🤔
I own a Boosted Board. So sad they're dead now. Probably my favorite startup so far.
I have to say I think things really started to go to shit when Sanjay left. The original CEOs knew what they were doing, knew their product and the market and weren't concerned with overstepping their bounds. Look at one wheels, huge market, made in the USA, quality control and customer service on point. They make a stand alone product that is good enough to support an entire company. Boosted could have gone so far, I love my board, i miss the company and I really do hope they come back..
Thank you for your comment! Interesting!
Had the chance to sit down and talk with Sanjay and I think pretty much all of the original team would agree with you. They’re absolutely stand up people, and I have a lot of faith in their current projects.
He probably left because he realized the downfall was inevitable. This kind of niche, fad products never last nearly long enough to keep a company running. Even if the initial demand is high, as the hype wears of and the potential market gets saturated, your basically left with a hard to predict and fast dwindling demand. Just ask the guys at the beanie babies company.
It’s all about the fact that nobody want an electric skateboard
tea that's just untrue, the demand was in fact there. There are thousands of boosted products circling the market, in use, right now in both the USA and even foreign countries. If you look at boosted USAs website theres people buying boards literally every day. I think the main problem was affordability; I cant tell you how many: "I wish i had a boosted board but their so expensive" comments I've seen over the years. People want them, but theres only a niche group of consumers willing to fork over 1000+ for a quality eboard. That being said had boosted kept manufacturing within the USA, cut down on their staff initially, not poured all their money into that stupid rev scooter, and worked on making their products more affordable for general consumers... they'd probably still be around.
I own one of these. They really changed the game with electric skateboards. Super sad that they're dead.
Serious this company is very amazing as their product a proof that hard tech is so fun but still many factors can ruin it
Thank you for watching!
I love my boosted board man. I’ve been able to ride from Morris Park to City Island and back (and hit a ton of bike trails) on a single charge. It gets me to work when I don’t feel like driving. Kinda sad to see them go out this way.
That is awesome! Thanks for sharing!
Perhaps a new feature in your videos could be: What could they have done to prevent a collapse? And\or was there a particular moment of inflection upon which failure and success hinged?
That would be really great. A case study brought to completion, so to speak.
They tried to recruit me a few years ago and it was obvious that the internal management structure and business plan was a total mess.
Thank you for your comment! Interesting!
If you don’t mind me asking, what were some of the red flags you saw?
Daniel Diaz management was a bunch of clowns.
@@DanielDiaz-by7fc well for starters the business plan was to recruit a guy with 4 subs on his channel.
3 people from his family and the 75 year old Indian guy that accidentally subscribed since he had bad eyesight and
rheumatism.
Company starts to struggle: "let's double our operating costs and design and development a new product" R.I.P
Just a suggestion, but I think that saying “Thank you for watching!” on almost every comment is just the same as not commenting on any but w a whole lot more effort. I think it’s great that you are willing to put that effort in, but maybe only reply to something if it’s relevant to the comment and/or give it a like if you want. Just my two cents, but great video anyways!
You are so right, trying to browse through comments is so annoying with the Slidebean replies on like every single one.
hello other Jack and yes exactly. It just feels like an automated bot response which it may very well be
Thank you for watching! lmao
He's probs running a bot in order to fulfill the "interact" with your users part so UA-cam algorithm makes his channel and videos more popular. Although it looks like he did see your comment and added more response types to his bot lmao.
We appreciate your feedback, Jack. This is actually a human manually replying to the comments, even the "Thank you for watching one" (hi 👋). We're happy to say that the channel has grown so much that we're not able to do that anymore in a way that doesn't feel "bot"-y. We'll keep closely reading your comments and replying to just a few. Welcome to the channel 🙂
Tbh I only watched this because I was feeling a little board
yamabushi170 lol
7:42 Oh come on, shes not even pressing the buttons.
Would have bought one if it didnt cost a arm and a leg
Thank you for watching!
this is the first video from you guys that ive watched and i love the content. Keep it up!
Welcome aboard!
When I was younger I was thinking of saving up to get a boosted board but I'm glad I didnt cause for me nothing beats skateboarding
Thank you for watching!
They should've made a low cost, high volume board🤔
If only it was that easy
@@benmay1294 for Boosted, it should have been that easy
Thank you for watching!
JFrost wow look guys JFrost just solved the problem that ruined the company! Somebody hire him. JFrost i see your future being bright if you keep it up with these amazing, innovative ideas that will help companies stay afloat! I cant believe nobody thought of this at boosted board!!!
@@connorendres4544 Uhhhh not sure why you're being a j-a. It's simply two different approaches a company can take. High price, low volume. Or low price, high volume. Other brands are doing this latter and are staying afloat.
And even a UA-cam commentator can see that going in the highly competitive market of scooters should never be your bread and butter. That development is even being subsidized by all the rental scooters. I mean what would have been Boosted's next idea? An Android phone?
I think it's important to note that with regards to their failed scooter, that happened to be right around the time bird and lyft scooters were getting big
Thank you for your comment! Interesting!
2:29 sorry I just had to point out it sounds like you're saying 'still- BEEP BOOP BOP THEM'
Loved the part one guy texted his board was smoking and the first thing the friend suggested was to film it. Gotta love social media.
whenever something big becomes a failure then it's just ran by people that doesnt know how to run a business
Fun fact, sanjay and Matt moved on to a new company called waybots (renamed skyp) Where they rented out scooters just like byrd or lime. They had to close down operations for quite some time after they had the exact same battery fire problem. They also hired an absolute nincompoop to run DC operations named Rob. Rob was an imbecile. Source, I was a consultant and I declined a contract renewal once Rob was brought on board.
People have been dreaming for generations of things like VR and electric skateboards. But the practicality and cost of these items when they arrive is a whole other matter.
6:14 sounds like he started crying 😭🥺
Personally I think they should've stuck with the boards and perfecting them for the time being. Then they could expand their product range. I think this and the hiring of the CMO, VP's, manager that were really unnecessary at this point in time in their company, was their downfall..
Thank you for your comment! Interesting!
Russakow totally looks like that type of manager that promises growth, sales and expanding while also wanting to cut costs wherever possible
A company that only lasts 7 years is not a company, its a fad.
@@purplepete9505 I'd like to thank the academy
Okay so i bought a Boosted Board about two years ago now, saved up all summer to get one. This shit was my first car before i had a car, i rode it/ride it everywhere. It crushes me seeing they went under, yes it did cost me $1200 but its literally the most fun product ive ever owned.
Thank you for watching!
I'm in China, can get a cheaper boosted board with a different name and logo.
Thank you for watching!
What is it called
Yup everything is made in China and then rebranded with a different name. Then gets sold for a 100-200pct mark up. It happens to all products.
@@Johnnyy832 Yeah, but how well made are they?
Rhino 8010 some are well made and some aren’t. That’s obviously due to some crappy manufacturers. Like I said the majority of our stuff is made in China due to the low cost.
Boosted closing down broke my heart TT
"make really really really really cool logos, then make hundreds of stickers and slap them onto Chinese products, you'll be better off" HAHAHAHAHA MY THOUGHTS EXACTLY.
Thank you for watching!
I'm Indian Entrepreneur and Big fan of Caya, We call it call you Maya, Caya! It means Money 💰 in our language.
These videos are so helpful to learn from real things, real stories thank-you for these content that too for Free, Every Week.
And I tried your platform recently "Slidebean" Amazingly Designed, saves time and really affordable.
Thank you so much Caya and Team Slidebean
Regards
Harsh and Team TGIWC.
Thank you for watching! "Maya Caya" sounds awesome! We're glad Slidebean has been helpful to you. In case you haven't, you're welcome to join Caya and other founders on Discord slidebean.com/startup-cafe See you there! 💙
Stock footage sites running low on material to provide for this channel.
Pretty lazy YT content if you ask me
@@nnoir but nobody asked you.
@@nnoir I agree
Aren't scooters and skateboards an interior good, even if they're meant to address the last mile transportation. The more income someone earns, the more likelihood they'll buy a car, unless the consumer focuses on sustainability, which in itself would reduce the market size. Add to that the high price and you reduce the market even more
Solid video man. I subscribed.
Thank you for watching!
I honestly think there are product categories where you shouldn't push so hard to scale. Boosted would likely still be profitable with a smaller workforce - 160 employees with a large percentage being engineers means a brutal burn rate.
Thank you for your comment! Interesting!
You learn more about business from videos like these than you would from school/college/university.
Lack of quality, non-extensive/intensive testing, high production costs, weak marketing methods, terrible management personnel... Just goes to show that running your own multi-million pound business isn't a walk in the park, no matter how much money and planning you throw at it, there will often be something you miss, and that can cause the entire business to collapse.
Just waited for your vedios bored in quarantine
#❤slidebean
Thank you for being such a loyal viewer! 💙
Congrats on 12 months of company forensics. Skateboards will always be cool (I was half expecting to see
Marty Mcfly insert in the intro)
Haha, that would've been cool! Thank you for watching!
interenting, i've never known that they messed up real bad
Thank you for watching!
Slidebean: Startups 101 though it was inevitable anyway with the pandemic situation. I guess startup companies aren't much sustainable afterall..
thankful for captions!
You're welcome!
RIP Boosted
Thank you for watching!
Your advice on stickers was hilarious!
Will keep it in mind....
Glad you liked it!
Why gary wanted caya to delete this video
I still ride my V2 everyday. So dependable and fun that I forego my car for shorter commutes. Nothing beats zipping down the road on one of these things.
i would really love a video about the "Amino app" it has raised over 72 million dollar in such a short time and it has a lot of communities but problems already started to show up so i think we're gonna see another start up failure
Idea noted! Thanks!
I have an Evolve skateboard, there is a shop in UK. I believe they are an Australian company. The new boards are also water proof, not that you should be riding in the rain though.
Wow, interesting! Thank you for watching!
Boosted is way too expensive. There are many boards now that are just as great at half the price.
Exactly. I'll buy a Backfire or Exway product long before I buy boosted. I've heard way too many things about the range on Boosted boards and it doesn't sound like they're worth the price...
Thank you for watching!
Yeah, and it's made in China, imagine the price if made in US
@@elbuhdai605 exway is also closed.
I build electric skateboards. The parts cost me around $150 for a dual hub. 32v battery. Decent controller. A company selling their boards for 1k+ was never going to work in the market for long.
Damn you're channel & content is so underrated. This is my first video and I loved it.
Welcome and thank you for watching!
Great production!
Glad you like it!
I remember when this was being reviewed by LinusTechTips
Thank you for watching!
Its even worse when you send your board in for maintenance and then file bankruptcy. Lost my mini x
Who's here after slidebean's recent video
Me. But can't find why Gary doesn't like it
@@ChigozieMImachukwuOfficial Did the same thing. Came to re-watch to find out what bothered him... and I couldn't figure out myself.
Caya said "They graduated from the Y-combinator program, a hotbed for innovative products and ... a source for a lot of our Forensics videos." but that part of the video seems to have been deleted since then. If you look at top comments you will find in the subcomments a response from Garry Tan saying "Not classy"
@@cayahere "They graduated from the Y-combinator program, a hotbed for innovative products and ... a source for a lot of our Forensics videos."
@@marvinkr can’t the guy take a joke?
Yes that is corect motorized boards were around before boosted boards. I remember motorized skateboards from more then 35 years ago, they had a small gas engine on them, and a cable with throttle.
Why startups fail?
Overvaluation. That is it. Nothing complicated.
More money, more problem. VCs have cash to burn and founders don't care about the sustainability of their businesses.
Say, you have a business that you know is worth $100 and you think with all the luck in the world you might generate $10 annually. VCs say, How about you take $1000 dollars and invest in your growth and other things because you are a genius founder and you have tonnes of engineers.
You try and try and but you can't come up with anything better , then the VCs come again at the year end. They will shower you with more money because the culture of SF is expenses aren't loss they are investments.
Then somewhere along the line they draw an arbitrary line and come to the realization that the startup isn't worth shit any more . They could have made more money by buying treasury bonds or some shit. Now they are going to give the execs and the founders a sweet exit package and they will try to either issue an IPO or lay off everyone.
Awesome remarks! Welcome to discuss with other founders or Caya on Discord slidebean.com/startup-cafe
when you get so much money you start to blow on alot of stupid things . to run a scooter company or a skateboard company does not cost a billion dollars to run or even scale. you can do the samething on a smaller scale, without investors.
The thing is none of these products are really better than a regular bicycle - they’re mostly cheaper, can be just as fast, you don’t need to charge them, they won’t go wrong in the wet, they’re very safe, fairly easy to maintain, you can carry luggage on them if you want, there’s bike shops everywhere - bikes are great! All of these products are trying to fill a niche that’s been filled perfectly for the last 140 odd years.
I suggest you make a video on Magic Leap because that is probably the biggest dumpster fire in the last 5 years.
Thank you for watching!
A motorised skateboard is like a Motorbike with training wheels or Alcohol Free Beer or a vape.
I honestly hate that boosted failed, i loved their products, and the brand as a whole!
So many companies take the Apple approach and deliver extremely high quality products for a very premium price, which totally works, unless 1) something happens and the product suddenly becomes unreliable and 2) the products aren't widely used and advertised. The reason Apple works is because everything, generally speaking (minus the bending problems) works flawlessly AND more importantly phone plans allow them to be widely accessible to the general public. If everybody who wanted an iPhone had to pay the $1000-$1500 out of pocket then iPhones wouldn't even be close to as popular. Also, obviously, more people use smartphones than skateboards and scooters but you get the point.
Got it! Thank you for watching!
2:05 launch-ed? :)
Not everyone can be perfect lol
I think If boosted had been acquired by a Silicon Valley corporation, it would’ve stayed afloat ...
Great video. Love it when you said “reversed engineered in China” produced cheaper alternatives 😁. You mean copy products...
Thank you for watching!
That's how reverse engineering works, that's why it's *reverse* engineering.
Not exactly copies. China takes the core tech/ general idea then each factory adds or subtracts their own ideas. That’s how they make a cheaper/better or generally more desired product. A lot of people think China only makes cheap crap that’s incorrect, they will make anything you want. If you want a keychain it’s up to you to choose what kind of metal , brass is more expensive than other metals and theirs thousands
Of combinations available, product makers choose cheap shit because it turns out that’s what people love. Cheap shit. Many times on multiple steps makers can choose for higher quality fabrication and parts manufacturing but don’t because that’s not what the market is demanding. The real money is in making a better cheaper product not turning out exact copies.
Sticker part was awesome and funny.
😆 Thank you for watching!
Did boosted board fail i did not know that
They did
@@slidebean 😕 that sucks
Your Channel is for sure 'Apple of UA-cam Startup Channels' 👑
Thank you for watching! 💙
I feel like with lithium batteries, isolated incidents of overheating are just the name of the game. It's like when a truck's brakes fail, it's terrible, its inexcusable, but even with the best design and quality control, its gonna happen eventually.
Thank you for watching!
3:40 Rick Bross, when you order Rick Ross on Wish...
"it begs to wonder" is such a weird turn of phrase
A video series on the probable next big thing will be guiding light to the budding entrepreneurs. Hope you make it. Your efforts are commendable
Thank you for watching! Idea noted!
@@slidebean Best wishes
I confirm, I got hooked on esk8 because of Casey, though I was into small electric vehicles long before.
It really surprises me that the company has failed, I wasn't up to date on what happens to them but I was sure they are doing great then boom company shutdown, whaat?
Hey Garry Tan, This Video isn't going away.
I think they started to fail because more and more cities got cheap, easy to rent, electric scooters. All of the sudden You didn't need to OWN the super expensive mode of transportation and didn't have to worry about lugging a 45lb scooter around when you're not using it.
Thank you for your comment! Interesting!
The problem is that premium priced products only sell to countries like the US, Canada, and EU countries. The rests of the world have options that are, although of lower quality, still very descent. Plus, they're aggressively priced to be significantly cheaper. Quality alone cannot guarantee sale.
Best Segway to a sponsor EVER
Great video man! I had no idea about Boosted dying!
Thank you for watching!
750$ gets you a proper motorbike in India that is good for a couple of decades in very rough rural roads. The boards were way too expensive.
They had 150 employees?!?! A small market, luxury item had 150 Employees?! No wonder they failed. Holy crap. They were never going to sell enough to pay that staff.
After watching Casey’s vlogs for years I finally got a boosted board. I loved the board and was obsessed with it for a month. I rode it nearly every day on my short 3 mile commutes to work & the gym(I rode skateboards for years as a kid). One day i was taking a turn as usual & on the street there were broken pinecone pieces as usual. I’ve ran over the pieces normally even at (20mph) no problem, but this time one wheel got caught & flung me forward nearly 10ft at 20mph. Due to my gentle grace (practice from falling in football) I rolled the best I could over my shoulder into a seated position. There was a 0.5inch deep gash in the middle of the crown of my helmet and I got a bunch of gashes on my elbow, shoulder, and hip. I returned the board.
Yup. They are not safe. Much safer to use a scooter or especially a bike
Wow, interesting. Stay safe, Andrew!
He had me at 'company forensics'.
Hope you enjoyed the video!
Me as CEO of boosted: before release do extreme testing probably try to replicate a 5 year usage (at least) ..been pondering on this market for a while myself ,my proposed named for this is POWER BOARDS
Love this company forensics videos. It's a great counter to today's survivorship bias
The reason boosted failed is because their market is skateboarders, who are inherently resourceful and will not spend money unless they feel like they have to. If boosted wanted to be successful they should have started their models at 500$, considering a actual skater will not spend more than 250 tops for a normal board, expecting them to pay 1000$ for something you cant even really do tricks on is just unrealist. Therefore their market was a very wealthy group of skateboarders who have enough money. Not to mention most skateboarders are teens who are broke already. Great product, terrible execution of markets on Boosteds part.
Thank you for your comment! Interesting!
I had a Dual+ a few years ago. Two things made me stop. It was super-heavy so it made it awkward and a pain when I had to walk (friends, crowded areas, and a lot of places that don't want you boarding around their property). And I found the fanbase REALLY annoying.
Thank you for watching!
Interesting!