"Fake it until you make it" has become a mantra in Silicon Valley, where the allure of rapid success often overshadows the importance of delivering tangible products. Today, we witness an increasing number of startups promoting, launching, and selling their products without fully developed features or worse, selling a vision of the future on a subscription basis.
In recent years, we've seen examples of startups like Rabbit R1, which marketed its product as an AI-driven solution, leveraging buzzwords that are currently in vogue. However, when customers purchase these products, they often find that the promised features will only be available in the future. This raises a critical question: Why are these companies allowed to sell products that are essentially promises of future capabilities rather than actual, functional items?
This trend can be attributed to founders who are eager to capitalize on the hype train, seeking immediate wealth without delivering on their promises. Unfortunately, many of these startups vanish within a few years, leaving consumers disillusioned. Sound familiar?
While Steve Jobs is often associated with this phenomenon, he stands apart in that he consistently delivered products on launch day. Many others, however, do not share this commitment to accountability.
To address this issue, we must tackle two key areas. First, we need to shift consumer attitudes towards products. Customers should be wary of purchasing items that lack fully realized features or that rely on future promises, especially when sold on a subscription basis. Second, governments must implement policies that make it illegal to sell products with false claims and unrealistic future promises.
By fostering a more informed consumer base and advocating for stricter regulations, we can work towards a startup ecosystem that values transparency and accountability over mere hype.