We sold RemoteTeam to Gusto. It was a great exit. But before that, we almost ran the company into the ground. The reason? A bad name.
I’m not kidding. The right name can be the difference between a rocket ship and a lead balloon. I’ve seen it happen more than once in my 200+ angel investments, and I’ve lived it myself.
When we first started, RemoteTeam was called ‘MovieLaLa’. Yes, you read that right. We were building a tool for remote team collaboration, and we were called MovieLaLa. It was a terrible name. It was confusing, it was unprofessional, and it didn’t reflect our mission in any way. We were bleeding cash, and we couldn’t get anyone to take us seriously. We were on the verge of shutting down.
Then, we changed the name. We became RemoteTeam. And everything changed.
Suddenly, we were getting calls from investors. We were getting featured in the press. We were signing up new customers left and right. The name change was a pivot. It was a rebrand pivot. And it saved our company.
Your Name is Your Story
Too many founders, especially in the AI space, get this wrong. They pick a name that’s clever, or technically descriptive, or just plain weird. They think the product is all that matters. They’re wrong.
Your name is the first thing people hear. It’s the first thing they read. It’s the first thing they remember. It’s your story in a single word or two. And in a crowded market like AI, your story is everything.
Think about the AI companies I’ve invested in. Anthropic. OpenAI. Scale AI. Hugging Face. These are not just random words. They tell a story. They evoke a feeling. They hint at a bigger mission.
Anthropic sounds human-centric, focused on safe and beneficial AI. OpenAI is about transparency and collaboration. Scale AI is about the massive scale of data and models. Hugging Face is friendly, approachable, and community-driven.
These names are not just labels. They are strategic assets. They are competitive moats.
The Rebrand Pivot in Action
I’ve seen the rebrand pivot work for other companies too. One of my portfolio companies, a brilliant team of researchers building a new type of neural network, was initially called ‘Synaptic Matrix’. It was a technically accurate name, but it was also a mouthful. It was hard to remember, hard to spell, and it sounded like something out of a sci-fi movie.
They were struggling to get traction. They had a groundbreaking product, but they couldn’t get anyone to pay attention. I advised them to rebrand. We spent a weekend brainstorming new names. We came up with a list of over 100 possibilities. We debated, we argued, we voted. And we finally landed on a new name: ‘Evolve AI’.
It was a simple name, but it was powerful. It was easy to remember, easy to spell, and it perfectly captured the essence of their product: an AI that could learn and evolve on its own. The change was immediate. They started getting calls from investors, from customers, from the press. They are now one of the hottest AI startups in the Valley.
How to Choose a Name That Wins
So how do you choose a name that wins? Here are a few things I’ve learned:
- Tell a story. Your name should be more than just a label. It should tell a story about who you are, what you do, and why you matter. It should be a name that people can connect with on an emotional level.
- Keep it simple. The best names are simple, short, and easy to remember. They are easy to spell and easy to pronounce. Don’t try to be too clever or too cute. Just be clear.
- Be unique. In a crowded market, you need a name that stands out. A name that is memorable and different. A name that people will talk about.
- Think long-term. Your name is not just for today. It’s for the next 5, 10, 20 years. So choose a name that can grow with you. A name that won’t feel dated in a few years.
- Test it out. Before you commit to a name, test it out on your target audience. Get their feedback. See how they react. Make sure it resonates with them.
The Hardest Part is Letting Go
The hardest part of a rebrand pivot is letting go of the old name. You’ve probably grown attached to it. It’s your baby. But if it’s not working, you have to be willing to let it go. You have to be willing to kill your darlings.
It’s not easy. It’s a painful process. But it’s necessary. I’ve seen too many founders cling to a bad name for too long. They are afraid of change. They are afraid of starting over. But sometimes, starting over is the only way to move forward.
So if you’re an AI founder and you’re struggling to get traction, take a hard look at your name. It might be the single biggest thing holding you back. And a rebrand pivot might be the single biggest thing that can change your trajectory.
It worked for me. It worked for my portfolio companies. And it can work for you too.
Frequently Asked Questions
What's the most common pushback you get on this?
People often push back by citing exceptions or edge cases. And they're usually right that exceptions exist. But building a strategy around exceptions rather than patterns is a losing game for most founders.
How can I apply this thinking to my own situation?
Start by identifying the core principle behind the opinion, not the specific example. Then ask yourself: does this principle apply to my context? If yes, test it in a small, low-risk way before going all in.
What experience informs this perspective?
This perspective comes from over a decade of building companies in Silicon Valley, two successful exits (RemoteTeam to Gusto, MovieLaLa to Gfycat), and investing in 200+ startups including Anthropic, OpenAI, and Scale AI. I write about what I've lived.