Someone called me a tech millionaire, and I got all snippy, but then I realized that I have no idea how to value Pinboard. Do I just, like, multiply earnings by something? Is it the craigslist value of the servers? How do you value a tiny tech business?
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(For those curious, the site makes about $190K/year in revenue, has 25k active users, has costs of about $38k, mostly fees and colocation, and I'm not looking to sell it. Rather, I am biding my time to buy out everybody else)
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I used to post detailed financials to encourage other people who wanted to run a small project, but in recent years this advice grew untenable given the amount of investment money sloshing around my industry. You can't tell people to seek a steady income when there is free money
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Replying to @Pinboard
I don’t understand, was the disclosure harmful to you, or are you saying not enough people paid attention to it?
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Replying to @raymondedwards
I mean that the advice to "start your own thing and live off it" made no sense in a context where you could do much better taking investment that was easy to obtain and came without real strings attached
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Replying to @Pinboard
Hmm. I think it would still be super useful for those of us who don’t have industry connections. I’m certainly interested to read what you write/have written about this
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Replying to @raymondedwards @Pinboard
People talk about free money, but my impression is that you need to have worked in the Bay Area for a while to uh, dip your bucket into the sloshing
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I'm the wrong guy to ask, because my experience in this is a decade out of date, but a reliable way to get a slice of the investment pie in my time was to start by working at a couple of startups, then strike out on your own. This usually involved moving to SF to get started
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