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I find it insane that in many interviews of "founders" it was common for founders to say their job was to raise money.
by brigadier132 3y ago
I find it insane that in many interviews of "founders" it was common for founders to say their job was to raise money.
- helsontaveras18 3y agoCEO’s job is to not let the company run out of money. One way to achieve that is through fundraising, but fundraising shouldn’t be a goal in itself.
- brigadier132 3y agoThat is part of the CEO's job. But the primary goal should be to create a company that is profitable (assuming incentives are correctly aligned). For the past decade incentives were not correctly aligned and the primary job was to do the Silicon Valley equivalent of flipping a house.
- junofan 3y agoNah for venture-backed it’s to deliver results for investors.
- MattGaiser 3y agoA lot of companies, most notably Facebook, Uber, Doordash, and Amazon, took a ton of time to not lose absurd amounts of money, so I can see why that was the job. They literally had ideas that wouldn't have worked as companies without billions of dollars.
- johnrushx 3y agoyes, true, but this is 0.001% of the startups, which won't happen to a typical founder
- johnrushx 3y agoyeah, and this seems like a common thing, but the reality is that most startups are actually bootstrapped and never raised money and never even tried. But the media covers mostly VC funded startups and their stories, that's why it feels like this is a typical story, but it's just 1% of the reality