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Yeah sometimes it becomes clear founders forget the purpose of a company is to make money/turn a profit and not just to repeatedly raise money and be famous. I
by alex_lav 3y ago
Yeah sometimes it becomes clear founders forget the purpose of a company is to make money/turn a profit and not just to repeatedly raise money and be famous. I have worked at a company that forgot this. It feels kind of surreal sometimes.
- gabereiser 3y agoYou mean like Founder’s Syndrome [1]? Yeah, it’s exactly like that… [1] https://en.wikipedia.org/wiki/Founder's_syndrome https://en.wikipedia.org/wiki/Founder's_syndrome
- reducesuffering 3y agoDoes that happen sometimes? Surely. But more often than not, founder led companies who have personal attachment to the outcomes deliver far better than some self-interested, career stepping-stone, decision-by-committee corporate blob. See Nvidia, Facebook, Stripe, and Tesla compared to Intel, IBM, GM, and PayPal.
- gabereiser 3y agoNot arguing that at all. I fully agree. There are a lot of smaller startups that fail to get past the “tribe” level due to founder’s syndrome though, among many other factors. It just reminded me of that right off the bat.
- jandrese 3y agoThat's one view of what a company should do. Another is that it should become famous enough to attract the attention of a FAANG and get bought out ASAP, making the founders multimillionaires before they turn 30. It's the techbro lottery. Many will play, few will win.
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- quickthrower2 3y agoThe company is the product kind of thing. More like flipping real estate.
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- nicbou 3y agoSurreal indeed. It blows my mind to see investors repeatedly try to propel the same business model (like electric scooter sharing) far past the point of reason. The founders can surprisingly turn around, start something else, and get showered with money again. It feels completely disconnected from reality, a very abstract way of thinking about money and business.