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> I want to hear that you are > building a unicorn And there we have the problem with the scene today.
by nzjrs 10y ago
> I want to hear that you are > building a unicorn
And there we have the problem with the scene today.
- mikekchar 10y agoI agree to a certain respect, but that's VC. You want to bootstrap a company and make a good living? I'm with you 100% of the way, but VC is not going to be a good fit, I think. If you're not giving them 20:1 ROI, they aren't even breaking even (because most things fail). In reality, they want significantly more. Let's say they put in $1 million for even 20%. They need an exit with a valuation of $100 million to get their 20:1. And if they aim for that, they'll go out of business because it's such a risky business. You have to aim for an exit with a valuation of at least a billion. I don't blame him for saying it the way it is. My personal opinion is that if you are interested in building a solid business rather than striking gold in them thar hills, you are better off with other sources of funding. Hell, if you are doing SaaS, you can probably self fund it...
- nzjrs 10y agoYeah, I guess I shouldn't post before coffee. Its so depressing coming here in the morning to see, every day, 10 different versions of the same 2 posts fetishizing 'disruption' and 'unicorn worship'. I think we would all be a little happier with some hubris, and fewer delusions of grandeur.