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Could we stop using the term "lifestyle" to describe young companies that aren't chasing the unicorn dream? A lot of them are run by very driven founders who wo
by GCA10 9y ago
Could we stop using the term "lifestyle" to describe young companies that aren't chasing the unicorn dream? A lot of them are run by very driven founders who work long hours to build world-class products for smallish niches. They don't have vacation homes in Tahoe; they don't shut down for a week to go to Burning Man.
Instead, they are obsessed with a definition of business success that doesn't involve ten-digit numbers.
There is one "lifestyle" business that's rampant throughout Silicon Valley, in spite of its efforts to deny it. This would be the bottom quartile of the venture business. It's all about picking up management fees, taking long weekends, and living large.
- rgrieselhuber 9y agoSee my other comment. Cashflow business is a much better and more accurate term for this.
- wolco 9y agoWhat about the term small business?
- rgrieselhuber 9y agoJust doesn't have the same ring to it. ;) It's largely semantics as any small business should ideally be cashflow positive but I think the nuance here is one that you can build these businesses to scale, just without VC funding. The time horizon for growth is much longer as a result but definitely there.
- wolco 9y agoThe word lifestyle usually means someone running a part time business usually a hobby that expanded. Running a gas station is not a lifestyle business.