I worked in Tech Startups in London a few years ago, and what was overwhelmingly the main goal of Founders was to make a company that IPOed or was bought out by a larger company.
Not one’s company to lead and guide to achieve some kind of vision (like Steve Jobs with Apple) and which one could pass one to one’s children, but rather something one could quickly sell for tons of money.
And, guess what, something which is basically a scam whose numbers can be beautified and which only works during a period with very specific and historically unusual conditions, absolutelly achieves such a core objective as long as one’s “exit strategy” (one of the main things Founders and Early Investors cared about) is executed before conditions change.
It’s not by chance that the domain is riddled with all sorts of scammy business ideas, up to and including outright scams.
I was a founder once and I had a very lofty vision for the future. I was very surprised when people started asking me for my exit strategy. What the hell, yo? I am trying to make the world a nicer place, not just fill my pockets.
I worked in Tech Startups in London a few years ago, and what was overwhelmingly the main goal of Founders was to make a company that IPOed or was bought out by a larger company.
Not one’s company to lead and guide to achieve some kind of vision (like Steve Jobs with Apple) and which one could pass one to one’s children, but rather something one could quickly sell for tons of money.
And, guess what, something which is basically a scam whose numbers can be beautified and which only works during a period with very specific and historically unusual conditions, absolutelly achieves such a core objective as long as one’s “exit strategy” (one of the main things Founders and Early Investors cared about) is executed before conditions change.
It’s not by chance that the domain is riddled with all sorts of scammy business ideas, up to and including outright scams.
So this article is not at all surprising for me.
don’t forget the role masayoshi had in pissing money away in 30 minutes. charisma and Kool-aid runs (ran?) SV.
I was a founder once and I had a very lofty vision for the future. I was very surprised when people started asking me for my exit strategy. What the hell, yo? I am trying to make the world a nicer place, not just fill my pockets.