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If I were bootup, I would've never accepted startuply if I didn't have the cash, but I don't see what else they could've done once they realized they didn't hav
by aditya 17y ago
If I were bootup, I would've never accepted startuply if I didn't have the cash, but I don't see what else they could've done once they realized they didn't have a backup.
That they didn't have a contingency plan in place or a backup investor is quite ridiculous, however, these things do happen.
- colinplamondon 17y agoI think there are VERY different standards for startups applying to seed accelerators, versus companies trying to get VC. A lot of startups who do seed accelerators are, in a large part, going full-time DIRECTLY because of promised investment. That's certainly been true of a ton of YC startups. They go full-time because a reputable business promises them funding, and signs an agreement to that effect. They wouldn't go full-time without the funding. When founders are leaving behind their jobs to take part in a program due to a promise from a seed firm, the partners of that seed firm should be mortgaging their homes before they completely fuck four companies by dropping them like this. And, on Bootup's side, their reputation is irreparably demolished- just google 'Bootup Labs'. How does a budding VC firm recover from that?