Burned $8K on a Toronto SaaS launch that went nowhere

We spent 8 months and $8,000 on a B2B software tool for small restaurants in Toronto. The founder, Mike, pushed for a big launch event at a rented loft in Liberty Village. Only 12 people showed up and half left early. Now we're rebuilding from scratch with a cheaper MVP. Did anyone else blow cash on a fancy launch instead of testing the market first?

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