4 ms·

If you're lucky enough to have "FU" money, then yes, you should worry about whether the acquirer fits your culture, whether you'll have control over decision, e

If you're lucky enough to have "FU" money, then yes, you should worry about whether the acquirer fits your culture, whether you'll have control over decision, etc. But for anyone that doesn't yet have "FU" money, where the alternative is 40+ years as a cube rat if you fail?? Worrying about team culture seems like a luxury.

robmate 13y ago
I think alike, sometimes you don't have the power to decide whether to sell or not to sell
coderzach 13y ago
> where the alternative is 40+ years as a cube rat if you fail?? In what universe is that a likely outcome? For any reasonably talented person, the worst case is getting a 6 figure job at someone else's startup for a few years before you try again.
- Edmond 13y ago
  I believe it is in this universe :) Easily landing a cushy job after a start-up failure is in fact life in the alternate universe. Besides you don't have eternity to keep trying to start companies, after one or two bursts you are pretty much done if you aren't already wealthy.
  - tptacek 13y ago
    No. And, no.
tptacek 13y ago
I'm confused as to how any entrepreneur could face "40+ years" as a "cube rat". I had some early success in the '90s but zeroed myself out with the first VC-funded company I founded; I left San Francisco with no savings, a wife and two kids, for a job in Ann Arbor. 4 years later I founded the company I'm at now (which we sold last year.) I could have stayed at that job less than 4 years; I almost left 2.5 years in. My point is: * Even with significant obligations, a startup failure is unlikely to result in your opportunities being limited for very long. Yes, you'll probably end up needing a "real" job for awhile, but (a) not necessarily for very long and (b) if you crater a startup, a normal job is probably a good move anyways. * If the only job you can secure after killing a company is as "cube rat", consider whether your prospects as an entrepreneur are really all that much better. People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth.
- Edmond 13y ago
  I think you are falling victim to survival bias here. >* Even with significant obligations, a startup failure is unlikely to result in your opportunities being limited for very long. It depends on the obligations, I assume you mean mainly family. If you are lucky(?) you may have a spouse crazy enough to follow you down that uncertain path, but that is not the case for most people.
- jfb 13y ago
  If the only job you can secure after killing a company is as "cube rat", consider whether your prospects as an entrepreneur are really all that much better. People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth. This. This. A thousand times, this.
- quickpost 13y ago
  > People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth. Couldn't agree more. I fell into this trap for a number of years. Once I started taking my business seriously and treating it like a job (an intense one at that), I've had far more success.
- larrys 13y ago
  "People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth." While we all eat shit at different tables there is no question in my mind that being an entrepreneur gives you greater flexibility and to be able to play less games that you do when you are an employee. (Or for that matter have partners). I'm reminded of this when I do some side consulting and help people with what I am really good at. (Negotiating) I have to spend time convincing them of something that when I do the same for myself I have to convince nobody but myself. (And it's worked real well. For many years.) The amount of extra time I have to spend selling a concept (and writing emails) is a big drain. Likewise I have a person who does some work for me on the side who holds a full time job with a big corporation doing security consulting. He does the work for me (on the side) because he enjoys the freedom he has to implement his ideas without having to convince his companies consulting clients (or his co workers) that his ideas are right. So he gets pretty much cart blanch with me to try something (and I write the check without all the red tape and effort).

robmate 13y ago

I think alike, sometimes you don't have the power to decide whether to sell or not to sell

coderzach 13y ago

> where the alternative is 40+ years as a cube rat if you fail?? In what universe is that a likely outcome? For any reasonably talented person, the worst case is getting a 6 figure job at someone else's startup for a few years before you try again.

Edmond 13y ago
I believe it is in this universe :) Easily landing a cushy job after a start-up failure is in fact life in the alternate universe. Besides you don't have eternity to keep trying to start companies, after one or two bursts you are pretty much done if you aren't already wealthy.
- tptacek 13y ago
  No. And, no.

tptacek 13y ago

I'm confused as to how any entrepreneur could face "40+ years" as a "cube rat". I had some early success in the '90s but zeroed myself out with the first VC-funded company I founded; I left San Francisco with no savings, a wife and two kids, for a job in Ann Arbor. 4 years later I founded the company I'm at now (which we sold last year.) I could have stayed at that job less than 4 years; I almost left 2.5 years in. My point is: * Even with significant obligations, a startup failure is unlikely to result in your opportunities being limited for very long. Yes, you'll probably end up needing a "real" job for awhile, but (a) not necessarily for very long and (b) if you crater a startup, a normal job is probably a good move anyways. * If the only job you can secure after killing a company is as "cube rat", consider whether your prospects as an entrepreneur are really all that much better. People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth.

Edmond 13y ago
I think you are falling victim to survival bias here. >* Even with significant obligations, a startup failure is unlikely to result in your opportunities being limited for very long. It depends on the obligations, I assume you mean mainly family. If you are lucky(?) you may have a spouse crazy enough to follow you down that uncertain path, but that is not the case for most people.
jfb 13y ago
If the only job you can secure after killing a company is as "cube rat", consider whether your prospects as an entrepreneur are really all that much better. People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth. This. This. A thousand times, this.
quickpost 13y ago
> People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth. Couldn't agree more. I fell into this trap for a number of years. Once I started taking my business seriously and treating it like a job (an intense one at that), I've had far more success.
larrys 13y ago
"People like to believe that entrepreneurship is something totally different than executing a conventional career, but that's mostly a myth." While we all eat shit at different tables there is no question in my mind that being an entrepreneur gives you greater flexibility and to be able to play less games that you do when you are an employee. (Or for that matter have partners). I'm reminded of this when I do some side consulting and help people with what I am really good at. (Negotiating) I have to spend time convincing them of something that when I do the same for myself I have to convince nobody but myself. (And it's worked real well. For many years.) The amount of extra time I have to spend selling a concept (and writing emails) is a big drain. Likewise I have a person who does some work for me on the side who holds a full time job with a big corporation doing security consulting. He does the work for me (on the side) because he enjoys the freedom he has to implement his ideas without having to convince his companies consulting clients (or his co workers) that his ideas are right. So he gets pretty much cart blanch with me to try something (and I write the check without all the red tape and effort).