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That's a good call for many situations. Once you accept cash from someone else, you give up some control and you get a giant ticking clock. Even if you're "suc
by caseysoftware 10y ago
That's a good call for many situations.
Once you accept cash from someone else, you give up some control and you get a giant ticking clock. Even if you're "successful" by most measures, if you're not successful by their measure, you might as well be dead.
- crazy_ant 10y agoAbsolutely. That's why we are bootstrapping here, despite being offered funding in the past (unsolicited, I might add). For someone who is trying to build a healthy lifestyle business, accepting money from a VC is equivalent to agreeing to having a boss. When entrepreneurs who have accepted funding are not able to meet certain targets, they routinely get sidelined and/or replaced. I don't know why so many people here pretend that's not the case.
- daniel_levine 10y agoI know many situation where the only control given up is basic minority shareholder rights, which you give up with a partner or employee. And I know even more where there isn't a clock. You can always pay dividends instead of selling or going public. Too much hyperbole. For some examples see my previous comment. https://news.ycombinator.com/item?id=12385952 https://news.ycombinator.com/item?id=12385952