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I mean honestly this is the entrepreneurial feat of a century. Get your company VC funded to the point of hiring 23 employees. Build your name, do all your fail
by spoonjim 6y ago
I mean honestly this is the entrepreneurial feat of a century. Get your company VC funded to the point of hiring 23 employees. Build your name, do all your failing, learn everything about the market with VC money. Then throw the employees AND the VCs in the dumpster and keep the core asset for yourself, rebuilding it into a $11 million business with contractors, so that you don't have to worry about things like their healthcare plan or giving them equity. The execution is just over the top unbelievable.
- stuxnet79 6y agoAgreed. Really inspiring story. I'm not as far along on my entrepreneurial dreams as the CEO but as a freelancer, I'd be interested in working at a firm with a similar set up as Gumroad. I'm very much a mercenary and I find it's hard to be honest about this while still maintaining a good working relationship with colleagues.
- Bakary 6y agoI think the person you replied to was being sarcastic but I'm not even sure anymore
- cercatrova 6y agoEven if sarcastic, it really is an amazing model and the execution was great. Vincent Woo of Coderpad had this exact question, why not raise a seed or series A round, then never raise again? There's no legal reason stopping you from doing so, given you still own the majority of the company. It's just frowned upon.