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Hey Jane, a digital health startup scaling access to abortion pills makes sense. It is a direct-to-consumer pharmacy that aims to meet consumers where they are, which is especially important as the extended stay pandemic continues.
Hey, Jane’s core product has a lot of bureaucracy. But it also operates at the heart of an over-politicized issue. Its main product, abortion pills, is banned or restricted in several states. Add to that the fact that Roe v. Wade will be destroyed, and the world’s future could collide with the startup’s mission to expand healthcare. Hey, Jane pretty much underscores telehealth startups’ potential — and promise.
Earlier this month, I wrote about how digital healthcare startups are bracing for a post-Roe world. Then Hey Jane co-founder Kiki Freedman said the upheaval means postal abortion care “is now probably the most viable form of access for most of the country.” One hurdle, she expects, is a lack of consumer education about drug-induced abortions. Most abortions performed in the US are through medication, except she says a minority of people have been informed about the nuances of medical abortion. “We must continue to educate people about this safe, effective, and common abortion option,” she wrote in a statement.
But now I want to follow up on these responses the next day. Next week, I plan to interview Freedman on blog line’s Equity podcast and ask her how she can build a business if the mission is irreversibly put to the test by our government; we will talk about the origin story and how they plan to run in the future. I want her to tell me what is going wrong with telemedicine’s ability to answer the biggest health questions and where startups could fit the solution in the future. Are they increasing a round of growth? For the answers, be sure to tune in to the Equity episode where you get podcasts, and why not start now?
In the rest of this newsletter, we’ll talk about another round of startup layoffs, why your MVP isn’t the MVP, and a fintech company betting that even your local credit card craves some Netflix & Chill time. You can always support me by forwarding this newsletter to a friend or following me on Twitter or my blog.
More layoffs in startup country
Unfortunately, there is more where last week came from. Tech workers experienced another tough week of layoffs and layoffs from startups like Section 4, Latch, and DataRobot. We have completed some of the well-known staff reductions in one item.
Here’s why it matters: The impact has been felt across industries ranging from education to security, as well as in stages from a post-Series A startup to a recently established SPAC company. That shows how widespread this setback is, no matter what stage your business is in. It’s not just the money-rich tech unicorns cutting staff but also the early-stage startups.
Your MVP is not minimal, viable, or a product.
Aka, my sweet spot (and my weakness). I’ve been thinking about this headline from Haje Jan Kamps for the past week because it challenges one of those preconceived ideas about startups everyone else likes to adopt without too much of a fight. In this op-ed, Kamps looks at why MVP is “such a profound misnomer” and what he should focus on instead.
Here’s why it’s important: Kamps’ new framework and set of questions you should ask your first product should make the complexity of MVPs a little more accessible. And I end with his kicker:
“I have no suggestion of a better name for MVP, but don’t fall into the trap of seeing it as a product, that it’s viable or, necessarily, small, simple, or easy. Some MVPs are complex. However, the idea is to spend as little of your precious resources as possible to get your questions answered.”
Jay-Z’s Queen A
For the deal of the week that may have flown under your radar, I’m choosing Altro! This fintech startup, co-founded by Michael Broughton and Ayush Jain, believes that access to credit should be free – so fit ound it an atypical way to help people build credit.
Here’s why it matters: Altros, which raised an $18 million Series A this week, is helping people build credit through recurring forms of payment such as digital subscriptions to Netflix, Spotify, and Hulu. It stands out because many banks targeting low-income, historically disenfranchised people want to bypass credit scores altogether — while Altros wants to tweak access to an established system. I highly recommend reading Mary Ann’s story about the company’s origins, its iundraisinfundraisingand the limelight — and subscribing to her newsletter, The Interchange.
during the week
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Until next time,
N
