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Our board and investors have made it clear they think it's highly unlikely any meaningful funding will be able to progress until early 2022 at this point. Rece
by BillinghamJ 7y ago
Our board and investors have made it clear they think it's highly unlikely any meaningful funding will be able to progress until early 2022 at this point.
Recently-funded or reasonably conservative startups should be able to do okay with that, but ones without a lot of runway are going to be in a really difficult position.
- CPLX 7y agoYour board and investors clearly have an exceedingly high regard for their own predictive abilities if they can anticipate the reaction of a specific financial sector two years hence, based on the effects of a crisis that's realistically about 3-4 weeks old. I'm not saying they are wrong. But the premise that anyone has a fucking clue what's going to happen on what timeline is ludicrous.
- treyfitty 7y agoIt doesn’t matter if they’re wrong. That’s what they think. And if they think that, money doesn’t flow in. It becomes a self fulfilling prophecy.
- CPLX 7y agoWell the money doesn't flow in as long as they think it. Which will last however long they want it to. When you get old and wizened you'll notice the pattern whereby the VC investor types will express the same certainty about everything all the time, even when shifting their opinions 180 degrees regularly and pretending like they've held their most recent opinion the whole time.
- xiaolingxiao 7y agoDid your investors give some justification for the 2 year time span? For example, did they account for the possibility that many business won't open until September, or a second wave of infection that will hit late fall, followed by say, recession in full swing all of 2021.
- Marsymars 7y agoI expect they're basing two years on the time a vaccine will take to get to market, and judging that everything that happens prior to then won't help much.
- ageofwant 7y agoGetting a vaccine is not a given. We don't have a SARS, MERS or HIV vaccines, and its been multiple decades for some of those. Having a SARS-CoV2 vaccine in two years is wildly optimistic.
- SpicyLemonZest 7y agoIt's known that some businesses won't open until September - that's the current target for sports stadiums, for example. Even after September, there will be a lot of unknowns with massive economic implications. Will cruising recover in 1 year, or in 10 years? How much more friction will there be on international travel, and for how long? What's the risk of a coronavirus resurgence, both globally and locally? How different will the new crop of small businesses be from the ones that got eliminated in the shutdown? If you're going to give a startup huge chunks of cash, you need a high degree of confidence in the mid-term future, and in most areas that won't be available for a while.
- rswail 7y agoI hope cruising only recovers with big reforms including: * Cruise firms pay their taxes and aren't allowed to use flags of convenience * They're required to look after and pay their staff properly * They're required to dramatically improve their fuel usage and efficiency * They're required to protect the environment, in particular their mooring and waste disposal practices * They're required to improve their onboard sanitation so that the spread of noroviruses, bacterial infections and other transmission is much better filtered and controlled.
- ericd 7y agoI hope it doesn't, it's fundamentally at odds with solving climate change, which is potentially a battle for our survival. For moving hotels.
- vladislav 7y agoThat's highly doubtful. If you really think that you should be raising a fund right now.