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There is an interesting dynamic going on with YC/Angelpad/other incubators or startups 'in the know' that makes some of these things not apply. The kind of foun
by diziet 13y ago
There is an interesting dynamic going on with YC/Angelpad/other incubators or startups 'in the know' that makes some of these things not apply. The kind of founders that are building tech companies are technically capable and they do not need to hire anyone nor need much capital other than initial living expenses. So there isn't as much pressure to raise money as others might expect -- there aren't salaries to pay, and your mindset is different with regard to expenses and things you're willing to try to do to get users.
When we'd started Sensor Tower, we moved to the San Mateo and worked day and night to build out the product, living for cheap on Barilla spaghetti. My co-founder promised to do 20 pushups per each paying customer, our first trial sign up was followed by a hectic phone call "omg!" and literal hopping in the air in excitement. A couple of months later, our attitude slowly changed, and after raising we didn't even bask at Safeway delivery or buying a couch. We still sleep on mattresses without frames, though.
Another thing about raising money is in most cases, when you do it right, you're not giving away your company to the VCs -- you're giving something like 10% away. That, at least, is the advantage of going through YC/Angelpad/etc, you aren't a typical startup when raising, you have the option to draw on the alumni and connections, etc.