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Hi Michael! How do you (& ycomb) feel about startups that require huge amounts of money to function? Vroom, OpenDoor, etc?
by codyzazulak1 10y ago
Hi Michael! How do you (& ycomb) feel about startups that require huge amounts of money to function? Vroom, OpenDoor, etc?
- aorloff 10y agoIs OpenDoor a startup, or a REIT ?
- dyim 10y agotheir operational side looks/walks/quacks like a startup, so i think something important gets lost in translation if you look at the balance sheets and call OpenDoor a REIT
- evancharles 10y agoWe're a startup that builds software to simplify real estate, and we use capital markets to power that experience. The ability to buy the home directly allows us to put the homeowner in control of their timeline. I like pg's definition of startup here http://www.paulgraham.com/growth.html http://www.paulgraham.com/growth.html Internally, we talk about fundraises as "moments" but not milestones. Fundraising takes work and is critical to growing our business, so we recognize that effort but don't celebrate rounds as successes for the business or for our customers.
- mwseibel 10y agoTotally fine to need a lot of money. Actually there are a lot of fintech/alternative lending companies where debt fundraising is a big milestone because debt/capital is core to the product. This is relatively rare though.