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Another EV Bites the Dust, a Payments Empire Rises, and the Ultimate Growth Hackers 🚀
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💡 A deep dive into Canoo’s crash, Square’s triumph, and the automation tool every startup founder needs.
🔥 Welcome back to your favourite startup reality show (newsletter, but honestly, startup life is one heck of a show), where some founders and investors find unicorns 🦄 while others light millions on fire🔥🔥🔥 and call it ‘R&D.’ Today, we break down another EV startup disaster (Canoo), celebrate a fintech revolution (Square), and hand you a secret weapon for scaling your business (HighLevel). Grab a coffee ☕, or maybe a stiff drink, because this one’s got it all.
⚡ TL;DR:
- 🚗 Canoo: The EV startup that burned millions, pivoted endlessly, and ultimately crashed.
- 💳 Square: How two guys revolutionized payments and built a fintech empire.
- 🤖 HighLevel: The automation platform that replaces a full-stack marketing team.
Let’s get into it. 👇
🚗 Failed Startup Review: Canoo – The EV That Couldn’t
What Happened?
Canoo, an EV startup with big dreams and even bigger financial holes, just filed for bankruptcy. If you’ve been following EV startups, you know the script by now: sky-high ambition, mountains of debt, and an ending that makes investors cry into their oat milk lattes. 😭
Quick Recap:
- 📅 Founded: 2017
- 👷♂️ Employees: 800+
- 💰 Raised: $125M
- 📉 Owed: $164M to creditors
Why It Failed:
- 🚀 Too Many Pivots: Subscription model ➡️ consumer EVs ➡️ commercial vans ➡️ military vehicles ➡️ confusion.
- 🔥 Burn Rate Insanity: $1.7M spent on private jet reimbursements for the CEO while the company was bleeding cash. ✈️💸
- 📉 No Market Traction: Big-name deals (NASA, Walmart) but few actual vehicle deliveries.
Why It Matters:
- High-profile deals mean nothing if you can’t execute.
- Lavish CEO spending while burning investor money = 🚩🚩🚩.
- The EV space is a financial black hole unless you have Tesla-level backing.
🔗 Sources: Canoo Investor Page
💳 Startup Success: Square – The Fintech Game Changer
What Happened?
Two guys—Jack Dorsey (yep, the Twitter dude) and Jim McKelvey—wanted to fix payments for small businesses. In 2009, they launched Square, and today, it’s a $50B+ fintech behemoth. 🏦💰
Quick Recap:
- 📅 Founded: 2009
- 💸 Revenue (2023): $20B+
- 📈 Stock Price: +1000% since IPO
- 🏪 Merchants Served: Millions worldwide
Why It’s a Success:
- 💡 Customer Obsession: Made payments dead simple for small businesses. No contracts. No BS.
- 📈 Relentless Innovation: From payment processing ➡️ Cash App ➡️ Bitcoin integration ➡️ BNPL (Buy Now, Pay Later).
- 🔄 Ecosystem Play: Built a full-stack financial suite, keeping users locked in for the long haul.
Why It Matters:
- Proof that solving real problems beats flashy tech.
- Fintech is about execution, not just big ideas.
- A clear, focused product strategy beats constant pivots.
🔗 Sources: Square Official Site
🤖 Startup Optimization Review: HighLevel – The Growth Hack Every Founder Needs
What is HighLevel?
It’s like having a full-stack marketing agency in one platform. HighLevel automates lead generation, sales, and follow-ups so founders can focus on scaling—not chasing leads manually. 🔥
What Makes It Awesome?
- 🚀 All-in-One CRM: Replaces email marketing tools, landing page builders, and messaging platforms.
- 🤖 Automation Beast: AI-powered follow-ups that actually convert.
- 💰 Client Magnet: Helps businesses capture, nurture, and close leads without hiring an expensive team.
Why It Matters:
- Time is money. Stop wasting it on manual marketing tasks.
- More leads + better automation = higher revenue.
- If you’re not automating, you’re losing.
🔗 Try HighLevel (free trial)
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💬 Inspirational Quote for Founders:
“It’s not about ideas. It’s about making ideas happen.”
– Scott Belsky, Behance Founder
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🔥 Well friends (founders and all) another week, another failed EV startup. But there’s hope—Square proves that solving real problems wins, and HighLevel gives you the tools to scale like a beast. Now go forth and build something epic. 💪🚀
✌️ Until next time, stay smart, stay scrappy, and don’t blow investor money on private jets. 🛩️💸
Patrick & the Empowered Entrepreneur Team
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💰 Possible Earnings Disclaimer: Results may vary. We don’t guarantee you’ll become the next Square, but we can guarantee you won’t if you do nothing. Oh and some of the content may have an affiliate link to help us keep the lights on. 🤷♂️
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