A key advantage to developers using Dwolla’s white label APIs is that they get their businesses to market faster.
There are other advantages to big established businesses but this article has precisely nothing to do with that.
Very plainly speaking…
Ease of access for developers with a strong market need means more experiments will be built. More experiments being built means a higher probability of one of them taking off. When one of them does, everyone wins.
Not all experiments work, so in order to find ones that do, we need to make it as easy as possible for experiments to take place.
Experiments really mean: new businesses or business ideas.
Dwolla has made it really easy for companies to build new ideas and get into market with a infrastructure that leverages bank transfers and moves money for free.
Aside from the free transactions part of that, here is what excites me about what I see happening on a daily basis.
When I got started building Dwolla, it took significant time and investment to get it off the ground and it cost me my life savings. Generally speaking:
- What is cost me: 2 years
- Team of: 2
- Cost pre-market: ~$80K
Let’s assume that time is worth $20 dollars an hour at 40 hours a week, which is a lot less time than any of us would put into launching a company.
Call it ~$40K per year, per person. Cost of ~$80K if you really carefully manage the money. It’s easy to spend a lot more.
It cost me a lot.
It doesn’t cost new companies getting into the market anywhere near that. Continue Reading