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From Apple to Oculus-Now Taking On Consumer Hardware | Nirav Patel, Framework
@ EO
05/20/25
Takeaways
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Nirav Patel
05/20/25
@ EO
I am fundamentally a hardware person, passionate about building the best laptop and creating longer-lasting consumer electronics products that users can easily repair and upgrade themselves.
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Nirav Patel
05/20/25
@ EO
Framework has been growing more than double in revenue year-over-year for the last couple of years, which is unusual for a consumer electronics startup in a tough environment.
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Nirav Patel
05/20/25
@ EO
The mission of Framework is to empower the end-user, making it clear that the product belongs to them, not the company.
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Nirav Patel
05/20/25
@ EO
One of the biggest challenges for consumer electronics startups is proving that there is a better business model than what currently exists.
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Nirav Patel
05/20/25
@ EO
The CEO of a startup needs to be in a learning mindset, as I learned during my time at Apple, where I worked on software but realized I wanted to focus on hardware.
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Nirav Patel
05/20/25
@ EO
Leaving Apple to join Oculus was a significant leap, as Apple was rapidly growing while Oculus was a scrappy startup focused on building virtual reality technology.
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Nirav Patel
05/20/25
@ EO
During the first two years at Oculus, we experienced rapid changes and learning, managing to get our first development kit into customers' hands in just six months, which is not typical for hardware development.
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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.
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Nirav Patel
05/20/25
@ EO
One of the biggest mistakes we made at Oculus was moving too quickly on a shoestring budget, which put pressure on us to make progress before running out of money. Ironically, we also had effectively unlimited resources, but that actually slowed us down, halting our iteration speed on VR headsets for about three years.
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Nirav Patel
05/20/25
@ EO
In the early years at Facebook, we should have focused on iteration speed rather than building a large team and a polished product.
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Nirav Patel
05/20/25
@ EO
Framework is entering a colossal $200 billion notebook market, which offers significant growth opportunities by promoting longevity in product use.
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Nirav Patel
05/20/25
@ EO
We're transforming the notebook industry from a model of frequent replacements to one where products are used for longer periods, which is a win for us.
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Nirav Patel
05/20/25
@ EO
As we grow, we don't need to revert to a transactional business model; instead, we focus on building a large install base that supports a sustainable business.
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Nirav Patel
05/20/25
@ EO
We are expanding our success from notebooks to other categories in the consumer electronics industry, ensuring we maintain a clear mission and vision.
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Nirav Patel
05/20/25
@ EO
Understanding our terminal audiences helps us define the initial set of users we can efficiently win over with new products.
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Nirav Patel
05/20/25
@ EO
Audience expansion is key to success in consumer startups; we layer our core audiences as we grow.
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Nirav Patel
05/20/25
@ EO
For consumer hardware startups, having a critical fundraising roadmap is essential to reach escape velocity and ensure long-term success.
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Nirav Patel
05/20/25
@ EO
We envision a consumer electronics industry that is fundamentally different in 20 years, driven by a more efficient business model that benefits both the company and customers.
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Nirav Patel
05/20/25
@ EO
The key lesson is to not give up; resiliency is the most important trait in a startup, and you must be willing to keep finding solutions.