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When I was 25 I lost more than $20,000 of my own and FFF money investing in my own project only to have it fail. At the time I was obviously, really upset. Fas

by mrchess 14y ago

When I was 25 I lost more than $20,000 of my own and FFF money investing in my own project only to have it fail. At the time I was obviously, really upset. Fast forward to today -- looking back it was one of the greatest investments in my life so far as all the stuff I learned both emotionally, psychologically and professionally has really helped with current work and life. I used to think losing money was a big deal, but now I realize it isn't. Investors are in a sense "buying" your time. Can you really put a value on your time? Your own life? Sure, the memories were disappointing and frustrating, but I wouldn't have had it any other way. And yes, I plan to save and try it again. EDIT: Just to be clear I'm not saying throw VC money around... of course you still need to be responsible.

j45 14y ago
It sounded like you supported what the original commenter said, not to worry about investors. Having a slack attitude towards money (our own money or others) doesn't build a business or an understanding of value that ultimately ends in a revenue stream. It's nice of you to share you story -- I don't think many folks do. I have similar experiences (good and bad), but I think the one thing that really stands out for me is that investors are in a sense "buying" your time, not much different than consulting...... :)
- davidedicillo 14y ago
  > Having a slack attitude towards money (our own money or others) doesn't build a business or an understanding of value that ultimately ends in a revenue stream. Of course you need to value other people's money, but when they gave you they money they know that there were higher chances to fails than to succeed. If you did 100% of what you could have done, you have done your job. If it was easy everyone would do it.
- bigchewy 14y ago
  "investors are in a sense "buying" your time, not much different than consulting" Brilliant. I've never heard the concept of investing in a startup phrased so well.
  - j45 14y ago
    It was a gong moment for me too. I think I'd be much more open to funding if it was like this because I'm used to people paying me to build ideas, it just might be my own ideas that someone else happens to agree with.
orangethirty 14y ago
I remember the first $10,000 I lost on a business. It was my own money (well, a loan I ended up paying for years afterwards). Losing that much money when you make minimum wage is huge disastrous. But it taught me a lot about businesses, money, and myself. I do not regret what happened.

by mrchess 14y ago

j45 14y ago

It sounded like you supported what the original commenter said, not to worry about investors. Having a slack attitude towards money (our own money or others) doesn't build a business or an understanding of value that ultimately ends in a revenue stream. It's nice of you to share you story -- I don't think many folks do. I have similar experiences (good and bad), but I think the one thing that really stands out for me is that investors are in a sense "buying" your time, not much different than consulting...... :)

davidedicillo 14y ago
> Having a slack attitude towards money (our own money or others) doesn't build a business or an understanding of value that ultimately ends in a revenue stream. Of course you need to value other people's money, but when they gave you they money they know that there were higher chances to fails than to succeed. If you did 100% of what you could have done, you have done your job. If it was easy everyone would do it.
bigchewy 14y ago
"investors are in a sense "buying" your time, not much different than consulting" Brilliant. I've never heard the concept of investing in a startup phrased so well.
- j45 14y ago
  It was a gong moment for me too. I think I'd be much more open to funding if it was like this because I'm used to people paying me to build ideas, it just might be my own ideas that someone else happens to agree with.

orangethirty 14y ago

I remember the first $10,000 I lost on a business. It was my own money (well, a loan I ended up paying for years afterwards). Losing that much money when you make minimum wage is huge disastrous. But it taught me a lot about businesses, money, and myself. I do not regret what happened.