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> Our burn rate was closer to $22k per month. Seems like this should have been mistake #1. That is an awfully high burn rate for a startup still trying to find
by nihaar 9y ago
> Our burn rate was closer to $22k per month.
Seems like this should have been mistake #1. That is an awfully high burn rate for a startup still trying to find product market fit.
- dtien 9y agoI interpreted that as them including their salaries, and not actual on-going server, marketing, advertising costs, etc.
- dboreham 9y agoAnd that would be an incorrect way to compute burn rate. Should include all outgoing cash regardless of the purpose.
- batmansmk 9y agoI was surprised as well. But he is talking about Australian dollars, not American ones. which makes it around $17k US. That makes $6k/month a head, plus office cost (bank fees, ads, furniture etc).
- mgkimsal 9y agoThanks for the clarification. It's still on the high side, imo, but depending on where you live, it may be sort of a low-end floor. I would think that many people would just forgo taking money out for the first several months, but perhaps there were more than just the 2 original folks? I couldn't tell from the article.