"90% of software startups fail because no one wants to use them" according to Exhibia CEO Miko Lasso

HackerNoon Reporter: Please tell us briefly about your background.

I am a Finnish American software engineer.

What's your startup called? And in a sentence or two, what does it do?

Exhibia.com is a Google and Facebook authenticated bidding-fee-auction app for Amazon items.

What is the origin story?

The original Yale University 1971 dollar auction game was digitized in the early 2000, however it was digitized incorrectly and commonsense auction initiation criteria was ignore.

What do you love about your team, and why are you the ones to solve this problem?

We launched one of the first penny auction sites in the USA and learned really early on the game what was fundamentally wrong and how to fix it. The “precommitment mechanism” in penny auction method is not formal and it doesn’t check that every live auction has the “minimum required number of bidders”.

If you weren’t building your startup, what would you be doing?

building software

At the moment, how do you measure success? What are your core metrics?

Signups

What’s most exciting about your traction to date?

Granted patents and we are generating users daily. 90% of software startups fail because no one wants to use them.

What technologies are you currently most excited about, and most worried about? And why?

Cryptocurrencies. The original inventor from Yale University Dr.Martin Shubik compares the dollar auction game to a coin-toss, or token-toss game. The auction method can be used with any crypto currency and we plan to launch our own Bidcoin.

What drew you to get published on HackerNoon? What do you like most about our platform?

Being a software-engineer myself, HackerNoon is an important source of information.

What advice would you give to the 21-year-old version of yourself?

Save money.

What is something surprising you've learned this year that your contemporaries would benefit from knowing?

That the auction operator needs to make sure before auction is started, that “minimum required number of bidders is present“.