00:00:00 · S0, S1, S2, S3, S4, S5
Ad[00:00:00] S0: This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed Sponsored Jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Ad[00:00:24] S1: Hiring now? Then this Ad[00:00:25] S0: is a job for Indeed sponsored jobs. Ad[00:00:30] S2: Sam's Club is the club for every holiday club. Guess who's joining the club this season? Walmart Plus. Yep. Sam's Club Plus membership now comes with Walmart Plus at no extra cost. Two memberships, one great price. Just a $120 Ad[00:00:42] S3: a year can save Ad[00:00:43] S2: you time and over $700. Wanna get in on a membership duo of the century? Visit sam'sclub.com. Come join us. Sam's Club. Ad[00:00:50] S4: Annual plan only auto renews TNC apply estimate based on average combined Walmart Plus and Sam's Club Plus savings among members of both for one plus year versus nonmember or club member pricing slash fees excludes membership fees. See Walmart Plus terms and Ad[00:00:58] S5: Sam's Club terms for more info.
00:00:58 · S5, S6, S7, Mehul Nariyawala
Ad[00:00:58] S5: Sam's Club terms for more info. Ad[00:01:00] S6: It's officially the holiday season, and Abercrombie's new collection has outfits for everything on your calendar. It's the busiest time of year, and between shopping and party invites, I don't have time to plan every look. But Abercrombie's always got me covered. Their sweaters are the perfect easy layer for low key plans. And on a nice night out, I'm reaching for their classic trousers. Fill your closet with the pieces you'll need all season long. Have a very Abercrombie holiday. Shop in the app, online, and in stores. Ad[00:01:30] S7: This is Blue from the UPS Store with a very special holiday announcement for small business owners. We're open. Let's be real. Your deadlines don't take holidays. So while the other guys are checking out, the UPS store is here to pack, ship, print, shred, notarize, and check more things off your list all year long. With over 5,500 locations, there's a blue near you at the UPS store. Shredding services are provided by Iron Mountain as is. Visit the upsstore.com/shredding for full details. Most locations are independently owned. Product, services, prices, and hours of operation may vary. See store for details. [00:02:03] S8: A hardware startup is definitely not for the weak hearted. It takes time. So if you look at the Nasdaq or stock market and look at the top technology valued company, I think out of, like, top five, four are hardware startups. So yes, hardware startups are hard, but if you can build something amazing, then you can really build an extremely valuable.
00:02:03 · Mehul Nariyawala, Navneet Dalal
[00:02:03] S8: A hardware startup is definitely not for the weak hearted. It takes time. So if you look at the Nasdaq or stock market and look at the top technology valued company, I think out of, like, top five, four are hardware startups. So yes, hardware startups are hard, but if you can build something amazing, then you can really build an extremely valuable. [00:02:21] S9: I'm Navneet Dalal. I'm a co founder and CEO of Matic. [00:02:24] S8: Hi, I'm Mehul. I'm a co founder of Matic, I focus on the product. We're a consumer robotics company. Our first product is a floor cleaning robot. It has taken us a long time and six years to make it happen. We at Matic have raised $30,000,000, and our investors are like, you know, John and Patrick Collison, Matt Rogers, like Jack Dorsey, and like, Ravi Khan. [00:02:49] S9: Why do a hardware startup? Why not go to software? One of the things we realized back in 2017 when we have left Google and we were thinking of what do we want to work on? Honest way of saying it is we wanted to do life's work and we wanted to work on the one key aspect which is missing in the society for next twenty, thirty years. I think it
00:03:08 · Mehul Nariyawala
[00:03:08] S8: just boils down to solve your own problem. That's one of the things that I had gotten golden retriever. We have a joke that my golden retriever sheds twice a year, six months each. I got a robot vacuum and I actually ended up buying Dyson's version of the robot. And turns out Dyson's version was bad as well. The suction part of it is amazing, but the vision part of it was really bad where it couldn't find its dog, where it got onto one of the nice rugs and it rubbed shed. But because it has a high suction, it got stuck on it. And when we came home and picked it up, the entire patch of the rug was gone. So here's a $1,000 device that ruined our $2,000 rug and I couldn't return it. So we knew there was a problem here, no one was solving it. Back then, twenty sixteen-twenty seventeen self driving was the space to go in. Imagine trying to build self running cars without Google Maps or GPS. The answer is no matter how smart the car is, if it doesn't know where the road is going or where it's located, it's kind of useless. In the same exact way, if a robot is supposed to clean it, it has to know whether it's on the right side of the table or left side of the table. And that didn't exist, so we thought there was a huge opportunity. And floor cleaning was funny because this is the only robot accepted in our home, even today. Yet, the category is growing 25% year over year, so the problem is so intense that we are willing to tolerate inferior product. So we asked ourselves this question that if we can build level five fully autonomous robot for indoor spaces, what does that mean? Well, if level five self driving car drives like a human, then level five indoor robots must behave like a human and clean like you. So why don't this robot constantly patrol over home, look for dirty spots, if they find it, they should just clean it. If they're truly intelligent, then they should understand that this is rug, this is a hard surface, that there is a wine stain, and change their efficacy method because we as humans know that on rugs with frills, if we take a vacuum, it will get stuck. So we don't do that. But if it's a hard surface with Weinstein, we need mopping. So robots should be able to adjust the efficacy method similarly as well. But then most importantly, we realize that today's robots and most of the robots don't have a concept of memory.
00:04:55 · Mehul Nariyawala
If you start a robot, it will clean for fifteen minutes. If you pick it up, put it back on the dock and start again, remains the same stupid idea for another fifteen minutes. So little things like that where we questioned everything. Why is the brush roll designed that way? Why is mopping designed that way? You know, why are there small wheels and not big wheels? And that was the journey that you question everything, you come back and then you build a system, put it back together at a very first from a very first principles level. It was just a proof of concept. It was just like, hey, can we just do this with camera, just like Tesla? The reason cameras alone were really important piece of the puzzle that a single sensor you add in hardware, you have to assume there are three software engineers on the flip side making sense of that sensor. So the more sensors you have, the bigger the software team. The sensors you have, the more calibration. The more sensors, the more failure points. Each sensor complexity rises exponentially. Our point of view was that, hey, nature has given us two RGB cameras and algorithms for a reason. We don't have tons of sensors. We only have five. And we just primarily rely on vision. So there has to be a way to get it done. And this is where we thought that let's absorb everything into the software instead of hardware, and that's a much scalable platform over the long term. So that's how we start.
00:06:00 · S0, S1, S2, S3, S4, S5
Ad[00:06:00] S0: This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Ad[00:06:24] S1: Hiring now? Then this is Ad[00:06:25] S0: a job for Indeed sponsored jobs. Ad[00:06:30] S2: Sam's Club is the club for every holiday club. Guess who's joining the club this season? Walmart Plus. Yep. Sam's Club Plus membership now comes with Walmart Plus at no extra cost. Two memberships, one great price. Just a $120 Ad[00:06:43] S3: a year can Ad[00:06:43] S2: save you time and over $700. Wanna get in on the membership duo of the century? Visit sam'sclub.com. Come join us. Sam's Club. Ad[00:06:51] S4: Annual plan only auto renews TNC apply estimate based on average combined Walmart Plus and Sam's Club Plus savings among members of both for one plus year versus nonmember or club member pricing slash fees. Excludes membership fee. See Walmart Plus terms and Sam's Club terms Ad[00:06:59] S5: for more info.