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Their focus wasn't on the product, it was on living/working in SF. They could have saved a year's worth of AWS payments alone by trimming the fat that comes wi
by homersapien 13y ago
Their focus wasn't on the product, it was on living/working in SF. They could have saved a year's worth of AWS payments alone by trimming the fat that comes with wanting to be in a "hip" location.
- sameer_sundresh 13y agoI know what you mean, SF is too expensive. But it's basically impossible to relocate a team of 7 who already have various different ties to a given area.
- bjansn 13y agoFor product development, remote working is one solution. I work remote with my team all the time. Sometimes you need to see each other face to face, then meet up somewhere where it's affordable. Could make for a good team field trip even!
- Guillaume86 13y agoMy feeling too, when you have an internet business, why would you waste so much money in the location...
- physicsyogi 13y agoTrue. But, it seems many VCs won't consider you if you're not in the valley.
- Encosia 13y agoTypically, no VC will consider funding a business which has gone bankrupt and shut down...
- 650REDHAIR 13y agoAnd shoot yourself in the foot when it comes to future funding, potential hires, and acquisition talks. Of course there are cons to living in SF, but if you're going for a series A after landing an initial investment it makes sense to base out of SF.
- oijaf888 13y agoDoes office space for 7 employees in SF really cost ~10K/month? I know in midtown Manhattan a previous startup I was at had over 5K sq ft for that price.
- sameer_sundresh 13y agoThe totals are all over 2+ years, not per year.