What is the key idea of the video?
— The key idea is that funding hard tech startups is significant, and startups should prioritize early sales, customer feedback, and building a great product while being frugal, creative, and protecting their intellectual property.
How did the speaker come up with the name "Pebble"?
— The name "Pebble" was originally chosen using a thesaurus, but the founder came up with the better name "Peple" while lying on a beach two years before creating Pebble.
How did the speaker manufacture their first watch?
— The speaker and their team manufactured their first watch by buying circuit boards from China, having the metal casing made at a small metal shop, making plastic watch straps in China, and doing final assembly one by one in their garage.
How long did it take for the company to achieve product market fit?
— It took five years for the company to achieve product market fit, with lessons learned from the first production run and the hardest question for founders being how to know if what they're working on is the right thing to work on.
What are some tips for starting a hardware startup with a limited budget?
— Some tips for starting a hardware startup with a limited budget include maintaining naivety to overcome obstacles, using crowdfunding to raise a small amount of money and test product-market fit, and being frugal and creative in building products.
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