Exactly two years ago today I got a call from the billionaire that was leading our Series A, informing me that he was pulling out last minute, effectively killing the company. Had similar calls today, but without giving away too much let’s just say it was the polar opposite.
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True moral of the story: build companies as they used to be built: with long hard organic growth without desire of slumping away majority stake for a pittance. Modern day financing ideals are the fiscal equalivent of premature ejaculation.
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Sometimes. It all depends.
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True, everything depends. But old school generation of independent cashflow always preceded investment on my behalf. Not for the money, but because of what it told me of the founders.
End of conversation
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ugggh.. been in a similar situation about 2 years ago and it crushed my company but ended up being the best thing that happened to us.. and now have a business model where we don't have our eggs in one basket
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Meta lesson I have learnt: Don't dance until I have two more names on the card. Clients, employees, partners, investors... Never talk to only one, even till the last moment.
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