@jsimpsonDC @pmarca @bgurley no - preorders are only considered debt if they are prepaid (payment collected before product ships)
Yes, pre-payment is debt - but it converts to revenue when you ship. Revenue = good thing for a seed stage company.https://twitter.com/bgurley/status/642858800697864193 …
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@ZafarAmin@pmarca@bgurley I probably wouldn't suggest taking customers' money if your team hasn't shipped a product before.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@jsimpsonDC@pmarca@bgurley I could be wrong, but most big companies don't collect payment before its ready to ship.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@d_pendergast @MikeMcCorms@pmarca creators aren't bound to deliver, just make best effort. https://www.kickstarter.com/terms-of-use pic.twitter.com/cpWqK9E451
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@zackkanter@pmarca@bgurley it's also a really cheap source of capital. -
@Travel_Buddha@pmarca@bgurley a founder-turned-VC once told me to look for money from revenue>friends/fam>banks>loan sharks>then VCs
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@zackkanter@pmarca@bgurley 90 day pay credit lines put companies in business. Crowd funding is just a new form of the same. -
@IsThatMcKee@pmarca@bgurley to be fair, 90 day credit lines also put companies out of business - 1 more reply
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@zackkanter@pmarca@bgurley yeah, the polygon article is an indictment of not shipping, rather than one of pre-sales/debt -
@zackkanter@pmarca@bgurley also I'd guess that@PalmerLuckey doesn't think that pre-sale debt is all that bad for a startup ;)
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