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Great advice. I don't see it as "change the world ideas" vs. something that is not. Pinterest isn't a changing world idea, so is Atrium or something else. The
by JamesAdir 8y ago
Great advice. I don't see it as "change the world ideas" vs. something that is not. Pinterest isn't a changing world idea, so is Atrium or something else.
The difference is do you want to work on a business of your own and as with any business it has to be profitable (I don't why it's called lifestyle business - it's just business). The other option is to try and get someone to gamble millions of dollars on your idea without being profitable for years. Getting someone to gamble like this just requires a lot more time. That's all.
- davismwfl 8y agoI agree, I don't like the term "lifestyle business", it is just a business, but in the tech industry I have seen that term used in a derogatory way when frankly I love that type of business. Raising money can be done outside of the traditional tech VC world as well. High net worth individuals who themselves own businesses many times are willing to invest on pretty decent terms. But your point is super accurate, raising money takes time focused on raising money and not building the business or product, which is why incubators/VCs favor multi-founder startups. The incubators all know essentially one founder will spend the majority of their time raising capital, meeting new investors and finding warm intros to investors etc. It is a full time job.