Startups tend either to do many things right, or many things wrong. If doing x right were a coin flip, there would be a bell curve with the peak at doing half right. But it is not a coin flip.
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I was just talking to a founder on the phone. I asked how much runway they had. He said "Oh, about 10 years." They still only have 8 people. Then we went on to talk about engineering questions, and they'd made all the right decisions there too.
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So he probably raised too much?
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When revenue gets close to expenses, runway gradually stretches to infinity.
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Is that runway considered cash in the bank today? or does it include accounts receivable?
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Agree. Teams with great dynamics can get away with being small. Once you have one of those teams, growing means weighing a real risk of losing what kept you productive.
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Positive paranoid founders are the best founders.
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It isn't just a coin flip, but getting luck on 50/50 calls is enormous factor in who makes it. Especially beneficial to have the hot streak in the beginning.
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The most efficient team I've ever worked with had 3 FT devs.
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The team was self assembling. There was no hire-process / indirection involved. One person started the job, and brought in people he knew from OSS. People he had successfully been working with for years before the commercial activity.
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I'd love to know if this correlates with how a founder has managed their personal finances.
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