I really don’t care at all losing all my money on any investment
So long as
The founders truly gave it all
Never quit
Didn’t just do it “on their terms”
Went wherever customers took them
Never left a lead on the table
Never stopped recruiting
Spent it like it was their money
Actually I’ve never lost money when this was all true
Where I’ve lost money:
- Founders burned money just to hit the plan
- Founders fired people they shouldn’t have
- Founders argued among themselves
- Founders blamed others
- Founders thought money would solve their problems
Where I’ve had a mediocre outcome:
- Founders didn’t want to go enterprise when customers did
- Founders didn’t drive down churn
- Founders didn’t talk to customers every single week
- Founders didn’t recruit VPs after $2m-$3m ARR
- Founders too arrogant in fundraising