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I honestly believe that the public profile fiasco was caused by pressure from his investors/board. VC money makes you do stupid things. Your next round of fund
by rsweeney21 6y ago
I honestly believe that the public profile fiasco was caused by pressure from his investors/board.
VC money makes you do stupid things. Your next round of funding is your number one priority, customers are second. I've been there (raised $17M for my last startup).
I run a company[1] that is a competitor to Triplebyte. Yes, hiring has slowed, and we will miss all our sales targets this year by miles, but we will be just fine because we are bootstrapped and profitable. So we'll only double our revenue instead of triple. For a VC backed startup that could kill you. But we'll just hire a bit slower and have a huge party at the end of the year.
When you are venture backed, you watch your bank account balance decrease every week. Having a "burn rate" is awful. It messes with you.
With a bootstrapped company you watch your bank account balance increase every week. It's a great feeling.
So many venture backed startups are being really hurt by the current environment. I really hope that it makes more people reconsider raising money.
1: www.facetdev.com