I’m saddened to shut down the social impact app I founded — but it’s time. Here’s what I’ve learned

Just weeks ago, I made the difficult decision to unwind our Philly-based business. It was my third startup endeavor and the first that had a real social impact mission behind it, which made the decision to shut it down that much more heart-wrenching.

Called This App Saves Lives (TASL), it was a mobile app-based solution that rewarded drivers for abstaining from phone-based distracted driving. We partnered with local and national brands (Shake Shack, Insomnia Cookies and hundreds more) who sponsored free products and services to motivate drivers to drive undistracted — and be rewarded for doing so.

I founded TASL after having been injured and nearly killed while cycling by a distracted motorist. That happened way back in 2015, on the very morning I was scheduled to meet with the CEO who acquired my Wharton-founded business, VerbalizeIt.

We launched TASL in 2020, moments before the pandemic (great timing for a driving-related business, right?!) and yet we survived and thrived, later growing the business through the Techstars business accelerator program.

We were covered in prominent publications like The New York Times, The Philadelphia Inquirer and Technical.ly, and we were honored as the first ever US-based Social Innovator of the Year by Fundacion MAPFRE. Along the way, our community of drivers had driven hundreds of millions of miles more safely, resulting in a substantial reduction in distracted driving-related accidents, injuries and deaths.

When you prioritize growth too soon

From a financial perspective, TASL had been limping along for the better part of 2023.

An early mistake of ours was focusing on growth too quickly, before garnering true product-market fit. We amassed a sizable nationwide community of members before truly understanding their wants, desires and motivations. Attrition soon followed.

We identified a far better path to revenue by partnering with insurance companies and corporate fleets, but by that point most of our original funding had dried up. And being in the midst of our B2C to B2B pivot, we didn’t yet have enough traction to garner new financial backing.

Absent new capital, I decided to fund the business personally because I believed so much in the mission, our social impact and the possibility of achieving scalable revenue once we fully executed our pivot.

Unfortunately, that was a band-aid and not a long-term solution.

The limited funding had implications for our team and key employees departed. I doubled-up my work to compensate for the loss of great colleagues and eventually became exhausted — both physically and emotionally. Although I was bolstered by my peers and mentors, including Brad Feld (the prolific investor, Techstars cofounder and thought leader) who deserves a callout for his support of me personally over the last decade, I knew that the physical and mental toll of the hours I was putting in wasn’t sustainable.

With the support of our investors, my mentors, friends and family, I made the final decision to shut down TASL.

It took their encouragement for me to realize that it’s OK to be both proud of your work but also recognize that it’s time to close one door in order to open up another.

Time is your most precious asset

So that’s where I am today. While I’m sad to have sunsetted TASL, I couldn’t be prouder of our impact or more grateful for those who helped further our mission of putting an end to distracted driving.

With more time on my hands, I realize just how much I might have neglected my physical and mental health or missed out on opportunities with friends and family. When you’re growing a startup, you have to be all in. But being so deep in the weeds has also meant not always being able to take stock of the fascinating changes taking place across the technology, healthcare and broader business landscapes. Nor does it allow for the pursuit of other interests.

I’m now realizing my passion for wellness and longevity in the form of my own newsletter on longevity, I’m consulting for several startups and businesses and I’m giving back to my loved ones who gave so much to me during these last few years.

My advice to fellow entrepreneurs is to recognize that your most precious asset is your time. Invest it wisely and carve out time for health, your continuing education, your personal and professional networks and your loved ones. Find a way to nurture your passions outside of work. Life is short, and as my friend Chip Conley eloquently states, “If you spend a dollar, you can make another one. But, if you waste a day, a year, a decade, you don’t get it back.”

The wound is still fresh and I’m not yet sure what’s next for me, but if the last four years has taught me anything, it’s that the world is filled with good people who are doing amazing things. I couldn’t be more excited for the future and to explore what’s next for me.