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I wrote a detailed and (to me) heartbreaking account of this two years ago. The article went viral and kind of freaked me out, but I think the advice is as good
by timoth3y 8y ago
I wrote a detailed and (to me) heartbreaking account of this two years ago. The article went viral and kind of freaked me out, but I think the advice is as good as ever.
https://medium.com/startup-lesson-learned/why-i-turned-down-500k-pissed-off-my-investors-and-shut-down-my-startup-2645c4ca1354 https://medium.com/startup-lesson-learned/why-i-turned-down-...
- myth_buster 8y agoThank you for sharing your story/learnings. I didn't come across your blog initially. These specially resonated with me: I need a higher level of certainty than investors do because my time is more valuable to me than their money is to them. Investors place bets in a portfolio of companies, but I only have one life. Listen to what your users say, but believe what they do. From now on, immediate benefit: sell to the user. Long term benefit: sell to the boss.
- timoth3y 8y agoThank you. I'm glad you enjoyed the article. That was one of the big revelations for me as well. One of the things that made me realize that pulling the plug was not only acceptable but the right thing to do.