Eh. it’s start up culture. They give the C suite 50 million dollars and want 100 million dollars in 10 years and they aren’t shy about going full Gordon Ramsay on anyone not 100% dedicated to that, even if you just get paid hourly to manage social media
The Gordon Ramsay anecdote is actually really good, in that in my experience VC’s get a LOT of say in what your business ultimately becomes.
I worked with someone that was, in all fairness, absolutely clueless about what they wanted, and wanted some VC alongside their rich parents money. The VC took a huge chunk of the business, and ultimately their business launched as something that was completely different to what they thought it would be - because that’s what the VC believed would give them some return. The business went bust in less than a year and launched for maybe 2 months?
Much like how Ramsay says “your Jamaican restaurant is shit, I’ve remade it into an Italian restaurant because there aren’t any nearby”, taking a lot of VC money almost certainly means they’ll want an equivalent say in your business. It’s not free money, and it absolutely fucks a lot of people up when they take that money and realise that their dream isn’t theirs any more.
Eh. it’s start up culture. They give the C suite 50 million dollars and want 100 million dollars in 10 years and they aren’t shy about going full Gordon Ramsay on anyone not 100% dedicated to that, even if you just get paid hourly to manage social media
The Gordon Ramsay anecdote is actually really good, in that in my experience VC’s get a LOT of say in what your business ultimately becomes.
I worked with someone that was, in all fairness, absolutely clueless about what they wanted, and wanted some VC alongside their rich parents money. The VC took a huge chunk of the business, and ultimately their business launched as something that was completely different to what they thought it would be - because that’s what the VC believed would give them some return. The business went bust in less than a year and launched for maybe 2 months?
Much like how Ramsay says “your Jamaican restaurant is shit, I’ve remade it into an Italian restaurant because there aren’t any nearby”, taking a lot of VC money almost certainly means they’ll want an equivalent say in your business. It’s not free money, and it absolutely fucks a lot of people up when they take that money and realise that their dream isn’t theirs any more.