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I would almost rather turn down $41M in the first round. I just don't need that much money so early on, and quite frankly, I think it would corrupt me. I'd be m
by jonnathanson 16y ago
I would almost rather turn down $41M in the first round. I just don't need that much money so early on, and quite frankly, I think it would corrupt me. I'd be much more prone to making expensive, wild, ultimately bad choices. I'd be more liklely to overhire and overspend. I'd be more likely to get reckless. I'd probably, even if not consciously, scale up my company more quickly than I'd scale up my business. And I'd probably have an army of financial overlords demanding that I do so.
That's just me, obviously, and I can't generalize to everyone out there. But I have a pretty good feeling that plenty of others would fall into the same traps.
$41M is way too much for an early-stage startup for most people -- unless we're talking about a category with extremely high capital barriers to entry, like biotech or energy.
$41M to scale up an existing and growing business? Definitely. $41M to start up a business? No, thanks.