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(Wired)   Venture capitalist rewards the hard work and determination of plucky internet start-ups with a portion of his vast wealth   (wired.com) divider line 9
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3202 clicks; posted to Geek » on 21 Jan 2013 at 8:06 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-21 07:40:59 PM  
The co-prosperity cloud isn't spreading much money, but it is successfully promoting a big idea, namely that certain types of startups require very little capital...

Yah right, everyone knows start up seeding is just an elaborate way for parents to assemble trust funds for MBAs and engineers that couldn't hack it at a real company.
 
2013-01-21 08:14:21 PM  
"I spent some time last night looking at a seed/plant catalogue and considering whether I could grow guavas here, or maybe gooseberries," Bayley says. "I could point at the gooseberry bush and say, 'See those gooseberries? Pinboard paid for them.'"

I guess that's why they called it.... seed funding.

/YEAAAAAAAAAAAAAAAH
 
2013-01-21 08:47:03 PM  
It's an oddly encouraging idea, but every startup I've been part of has always needed a lot *more* money than we initially expected.

There's always hidden costs and unexpected emergencies. Even if you carefully plan everything, you almost always have competitors who are trying to grow aggressively and that requires spending money to keep up (or being really, really good at marketing)
 
2013-01-21 10:06:13 PM  

fritton: It's an oddly encouraging idea, but every startup I've been part of has always needed a lot *more* money than we initially expected.

There's always hidden costs and unexpected emergencies. Even if you carefully plan everything, you almost always have competitors who are trying to grow aggressively and that requires spending money to keep up (or being really, really good at marketing)


I'm at a well-funded startup right now, and what always surprises me when I join startups are the places in which companies do and do not spend money.

For example, we have a good-sized marketing presence, but relatively little hardware - we're making do with VMs and blade servers for our working & testing environments, even as we're regaling potential customers and constructing lavish presentations. We have soft drinks and a lounge, but no janitorial staff or wastebaskets - we're bussing tables in the lounge and dumping our garbage off in a central location on each floor. We have floors of low cubicles, with just a handful of offices, but no cubicle numbers or name tags - more than a few folks get lost trying to find someone else's desk. We're a global company, with teams in multiple states and countries, but our network sucks so badly that it's nearly impossible to have a cross-team teleconference - we went big long before we should have, driven by marketing necessities.

It's still one of the better startups, and I've worked for everything from a three-guy basement Web hosting company to HomeGrocer (before it imploded.)
 
2013-01-21 10:23:13 PM  
Baby be good,
Do what you should,
You're gonna be alright.
 
2013-01-21 10:59:35 PM  
This seems like cheap publicity, more than anything.
 
2013-01-21 11:20:30 PM  
speed-suits are the wave of the future!
 
2013-01-21 11:45:17 PM  

FormlessOne: fritton: It's an oddly encouraging idea, but every startup I've been part of has always needed a lot *more* money than we initially expected.

There's always hidden costs and unexpected emergencies. Even if you carefully plan everything, you almost always have competitors who are trying to grow aggressively and that requires spending money to keep up (or being really, really good at marketing)

I'm at a well-funded startup right now, and what always surprises me when I join startups are the places in which companies do and do not spend money.

For example, we have a good-sized marketing presence, but relatively little hardware - we're making do with VMs and blade servers for our working & testing environments, even as we're regaling potential customers and constructing lavish presentations. We have soft drinks and a lounge, but no janitorial staff or wastebaskets - we're bussing tables in the lounge and dumping our garbage off in a central location on each floor. We have floors of low cubicles, with just a handful of offices, but no cubicle numbers or name tags - more than a few folks get lost trying to find someone else's desk. We're a global company, with teams in multiple states and countries, but our network sucks so badly that it's nearly impossible to have a cross-team teleconference - we went big long before we should have, driven by marketing necessities.

It's still one of the better startups, and I've worked for everything from a three-guy basement Web hosting company to HomeGrocer (before it imploded.)


I really hope "growing too fast" is one of our concerns. We're building a new crowdfunding real estate company to take advantage of the new crowdfunding laws passed last year: Link
The expense in legal alone is enormous. add to that servers, platform and dev, creative, marketing, networking, seo etc and you have huge cost before you even consider payroll and cost of goods sold.

I imagine that if you have a great idea and a built in audience that you can make a bootstrapped startup work.. but usually it requires some decent capital.
 
2013-01-22 08:08:32 AM  

fritton: FormlessOne: fritton: It's an oddly encouraging idea, but every startup I've been part of has always needed a lot *more* money than we initially expected.

There's always hidden costs and unexpected emergencies. Even if you carefully plan everything, you almost always have competitors who are trying to grow aggressively and that requires spending money to keep up (or being really, really good at marketing)

I'm at a well-funded startup right now, and what always surprises me when I join startups are the places in which companies do and do not spend money.

For example, we have a good-sized marketing presence, but relatively little hardware - we're making do with VMs and blade servers for our working & testing environments, even as we're regaling potential customers and constructing lavish presentations. We have soft drinks and a lounge, but no janitorial staff or wastebaskets - we're bussing tables in the lounge and dumping our garbage off in a central location on each floor. We have floors of low cubicles, with just a handful of offices, but no cubicle numbers or name tags - more than a few folks get lost trying to find someone else's desk. We're a global company, with teams in multiple states and countries, but our network sucks so badly that it's nearly impossible to have a cross-team teleconference - we went big long before we should have, driven by marketing necessities.

It's still one of the better startups, and I've worked for everything from a three-guy basement Web hosting company to HomeGrocer (before it imploded.)

I really hope "growing too fast" is one of our concerns. We're building a new crowdfunding real estate company to take advantage of the new crowdfunding laws passed last year: Link
The expense in legal alone is enormous. add to that servers, platform and dev, creative, marketing, networking, seo etc and you have huge cost before you even consider payroll and cost of goods sold.

I imagine that if you have a great idea and a built in audienc ...


Growing too fast can be a good problem to have if your leadership team can handle the transition from no revenue to some revenue without going insane. Best of luck to you in your endeavors!
 
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