The more I read about this, the more Im absolutely dumbfounded that Sequoia poured money into them. It took an outside executive 1 day to find out how effed their balance sheet was. Did Sequoia not perform any due diligence?
I’m a little ignorant to the whole crypto ecosystem, so can someone give me a quick rundown on the chain of events that led to this? Seems a little out of left field.
BTX, from the outside looking in, looked to be one of the more well run, stable crypto exchanges. $1.02 billion in revenue with $388M in net income in 2021. They didn’t go on any crazy hiring spree when they didn’t have to. Liquidity crisis implies that people are withdrawing cash they do not have, but if so, where did it go?
If history is any indicator, starting a company during or shortly after a recession has yielded some massively successful results. Not only does it crowd out parties that would enter easily during good times, you also have access to incredible talent on the market due to a high supply. Yes, access to capital is definitely more strained, however PG has said that technology progresses more or less independent of the stock market and economic cycles.
All this to say, I’ll probably look to start something. Anyone else down?
Thanks for the reply. It certainly will be an interesting technical challenge to try and propagate changes efficiently. Speaking from experience (I've worked with Terraform a lot the past 2 years), it can be a tough nut to crack, so good luck!
I would add one more thing (and this is maybe for down the line): There's a use case for duplicating envs beyond just development environments. There's a lot of value in cases where the SaaS product itself requires on-demand environment generation. Where customers of it need staging instances so they can see what config changes are before they merge to production. Obviously in that case, you're treating an actual product like a terraform provider, and the API's of that product as resources. I would explore that down the line because there's a lot of value in a service like that.
FYI, I would love to get involved any way I can to help you guys grow this. Let me know how I can help! mailto:[email protected] if you're interested :)
Terraform (as you may well have already found out) is a blessing and a curse. It's great for instantiating infrastructure quickly and repeatedly, but what it's not great for is managing it going forward and streaming changes (it seems to break A LOT when there is drift from managed infrastructure vs. real life infrastructure).
Do you guys plan to handle managing instances created via terraform code via Gallery, or is it strictly a tool to instantiate environments and add triggers around it?
Like I'm thinking of cases where you might want to edit your existing env created by Gallery with other stuff that other teams may have worked on and merged onto prod. If I edit the config, there could be a lot breaking changes
As you may already know, integrations are the heart and soul for products like this. I'm assuming you're already being bombarded by potential/current users asking "when will you have integration X?".
What is your strategy to scale out & maintain integrations? Speaking from experience, it's not something that is easy to scale out unless you have a dedicated team whose job is to build them out, or you have some third-party provider like CData providing OOTB connectors for your product.
(On a side note, this looks fantastic. Are you hiring any product folks per chance? I have significant experience tackling this same problem).