I HAD NO IDEA BUT SOMEONE JUST LINKED ME TO ONE OF THE 80,000,000 ARTICLES THEY’VE WRITTEN ABOUT IT! SOMEONE GET THIS ON HACKER NEWS IMMEDIATEY!
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HEY DID YOU KNOW BASECAMP SAYS THE ONLY WAY ANYONE SHOULD DO ANYTHING IN ANY COMPANY OF ANY KIND IS THE WAY THEY DO IT?
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you guys are both savage af lol.
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Hey, I had a Basecamp account. It was cool.
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Haha. The problem is for every repetitive article Basecamp posts online, founders are being told to raise money by nearly everyone in their local startup community. Ratio is probably 1:250, so contrarian perspective needs to be overstated.
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Of course the local startups companies do that. Guess who sponsors them?
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Um, who?
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Early morning :D I meant that startup communities are usually sponsored by VC firms - and the reason is that they're the ones who have the most tangible benefit from them.
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Hmmm, down here Aussie VCs tend to stick to sponsoring spaces only for people who they have invested in. :( Wouldn't be crowing too loudly about their record of sponsoring startup communities here, unfortunately. Maybe different other places (I hope).
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So many events have VCs as panelists or speakers who all say the same thing (raise) though. It’s more common for VC-backed companies to be in tech press or speaking than bootstrapped found who is heads-down.
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Oh, totally agreed. Yet, a Kaufman (??) study of US companies that made the Fast 500 between 1997 and 2007 found that 84% did not take VC funding. Bootstrapping is the norm.
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I love when they said there was no way Facebook was worth $33B:https://signalvnoise.com/posts/2585-facebook-is-not-worth-33000000000 …
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The worst part is BASECAMP IS A PRODUCT THAT NEEDS A LOT MORE WORK BY ITS FOUNDERS VERSUS NONSTOP FINGER-WAGGING
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But they reached MSNFFW: Minimum Success Necessary For Finger Wagging, so why bother.
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They do talk about that a *lot*, but they're one of the few visible "lifestyle businesses" in tech circles. If you compare their content to all the "how to raise," "when to raise," "who to raise from," "how to pitch," etc it's not even close.
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An angel investment from Jeff Bezos is much better.
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Learned recently that they took money from Bezos early on. Interesting detail in the story that isn't mentioned much. https://www.startups.co/articles/build-a-kick-ass-startup?ref=quuu&utm_source=quuu …pic.twitter.com/oG8v2urtCX
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That round was used to cash out the founders and not to fuel growth. Technically more of an exit of sorts.
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Interesting.
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