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Dalton Caldwell

08/30/19

@ Y Combinator

Brex pivoted from a VR hardware headset idea to a credit card for startups, achieving product-market fit quickly and raising hundreds of millions in just two years.

Video

Dalton Caldwell - All About Pivoting

@ Y Combinator

Dalton Caldwell - All About Pivoting

08/30/19

Related Takeaways

Dalton Caldwell

05/10/19

@ Y Combinator

Breck's, a credit card for startups, pivoted from a VR headset idea to a successful business by quickly realizing their initial idea wasn't viable and iterating through multiple concepts.

Y Combinator Cast

07/22/23

@ Y Combinator

Brex started as a virtual reality headset company but pivoted back to payments after realizing they lacked the necessary hardware expertise.

Michael Seibel

04/29/23

@ Y Combinator

Brex pivoted from a VR headset idea to understanding the needs of other founders, which led them to develop a product that addressed real customer pain points.

Dalton Caldwell

08/30/19

@ Y Combinator

The founders of Brex had prior experience in fintech, which contributed to their success after pivoting, demonstrating the importance of founder-market fit.

Michael Seibel

04/29/23

@ Y Combinator

Brex's founders spent time with potential customers to understand their complexities, allowing them to quickly ship a relevant product.

Y Combinator Cast

08/23/24

@ Y Combinator

In the startup world, companies can achieve billion-dollar valuations within 6 to 12 months of launching, even without product-market fit, similar to the rapid valuations seen during the crypto boom.

Nirav Patel

05/20/25

@ EO

We decided to optimize for quickly establishing the virtual reality ecosystem to understand what works and what doesn't in VR, which required us to take risks and build products rapidly.

Reid Hoffman

07/08/22

@ Greylock

Pivots are essential for startups, whether it's to find product-market fit early on or to reinvent the company later for sustained success.

Dalton Caldwell

05/10/19

@ Y Combinator

The founders of Breck's changed their idea within weeks of funding, demonstrating the importance of speed in finding a successful concept.