#024: Jacky Khuu - Startup failure, food delivery, being resilient, hard lessons, and trying again

Jacky Khuu was an early team member of DoorDash’s white-label delivery business in Australia. His passion for entrepreneurship led him to most recently co-founding Munchcart (now dissolved), a network of dark kitchens that helped restaurants expand into new areas without any rent or labour.The global logistics food delivery space has gone through massive reform over the past year with failed businesses, capital inefficiencies, and overfunding, especially during a volatile market. Munchcart was no exception to this, but unlike others, it was able to gracefully close its doors with honor and powerful lessons learnt. In this episode, expect to learn the biggest lessons from his startup failure, why the business model didn’t work, why walking away was the best option, how to build strong investor relationships and why it matters, the rewards and pains of building a company, the importance of resilience and much more…#founders #startups #entrepreneurship #motivation #leadershipGUEST LINKS:Twitter: https://twitter.com/JackyKhuu LinkedIn: https://www.linkedin.com/in/jackykhuu/ Muchcart Postmortem: https://drive.google.com/file/d/1zX5cWYPaiJW9KvjEQ50ZxP7qsgvN_QF8/view?usp=sharing CONNECT WITH ME:LinkTree: https://linktr.ee/barrywinata LinkedIn: https://www.linkedin.com/in/barrywinata/ Instagram: https://www.instagram.com/the.prompt_/ YouTube: https://www.youtube.com/@barrywinata RSS: https://api.substack.com/feed/podcast/448257.rss Patreon Support: https://www.patreon.com/barrywinataTIMESTAMPS:(0:00) Intro (4:04) What happened to Munchcart? (7:09) The original idea and how it worked (13:01) Understanding the model (15:53) The unit economics (22:45) Lessons learned (30:02) Challenges of product-market fit (37:57) Dealing with low margins (42:01) Building a startup from scratch (52:28) The decision to shut down (1:04:22) Mental health (1:11:04) Becoming an entrepreneur (1:15:51) Advice for founders (1:20:29) Connecting with Jacky (1:21:35) Outro This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit promptpodcast.substack.com This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit beesletter.substack.com