Web-based TV subscription service Aereo faced a challenge few other Disruptor 50 companies face — a 2014 Supreme Court ruling against it that led to bankruptcy.
and Julia Boorstin asked"what happens if doesn't come down in your favor?"A stunned Andrew Ross Sorkin jumped in."Is that a negotiating posture?" he asked."Meaning, it's one thing to tell the world we have no plan B. … if you said well actually we could do it this way and if the judges say no good, we could do it this other way.
Less than seven years later, though, Kanojia is on the verge of taking his next act to the public markets. It turns out, he did have a plan B of sorts for himself and his team in the event Aereo shut down. He founded a new company, called Starry, which offers a more affordable wireless internet service to residential customers. Had Aereo lived, Starry would have been a companion product for the Aereo platform.
"We went in [to Aereo investor meetings] saying it was a binary risk," Kanojia says."It's like a drug discovery company, for example, that says if I get FDA approval it's going to be very successful. And if not, not. And there's like a 50% chance that it gets FDA approval. I had a tradition, we would sign the documents, wait a day and call the investor one more time to say 'You good? You sure you want to do this?' before we cashed the check.
With more time, Kanojia thinks he would have had the chance to develop a bigger base of loyal customers. And he says not launching in Washington, D.C., before the case made it to the Supreme Court was"a big mistake." "The fact that we had done Aereo and people had seen the execution of this team, 18 months start to finish we had 600,000 users, 120,000 customers, while fighting legal battles. We had a beautiful product that worked, I think all that helped set the stage that the team can execute."Firstmark Horizon Acquisition Corp
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