Dear friends, family, investors, and supporters,
Long story short, we've decided to shut down SimplePF as a product. Here's why.
From a conceptual perspective, we were never able to hit product/market fit. Legendary venture capitalist Marc Andreessen (whom without, we wouldn't have the internet as we know it today) believes that "the life of any startup can be divided into two parts: "before product/market fit... and after product/market fit". This is the main impetus for our change.
From an economic perspective, although we're pivoting away from the idea of personal double-entry bookkeeping, we think the world & market is prime for more powerful, useful, efficient, accessible, user-friendly, and cheaper fintech applications. Due to the following we've built over the past ~12 months, we won't be retiring the SimplePF brand and will instead be launching new products soon.
From a strategy perspective, Eric Ries (author of the Lean Startup) describes a startup as "human institution designed to deliver a new product or service under conditions of extreme uncertainty." Who knew if someone would want our specific concept? That's the hypothesis we ultimately set out to test.
From a tactical perspective, our build-measure-learn loop moved way too slowly. It's beyond critical to not waste time coding when you should be talking to customers, no matter how much fun coding is. Coding is shamelessly sometimes my Saturday night, but hey, "if you love what you do, you'll never work a day in your life".
From a personal perspective, if you ever decide to take on fully-automated, personal, GAAP double-entry bookkeeping, let me know and I'd be glad to point you in the right direction and offer tips.
Current SimplePF Clients: We will be turning off our servers soon, but we will keep backups of your data for the next 3 months. If you are interested in exporting your data, please contact me. Your credit card will no longer be charged. Thank you so much for sticking with us, helping us learn, and giving us invaluable feedback.
If you have any interest in purchasing the SimplePF source code, feel free to reach out to me here.
Thank you much, everyone. It means that world to me that you’ve stuck with us on this journey.