Technical Difficulties from on Top of the Mountain
2005-04-17
  Better just admit it, you're doomed.
If you've founded a , or worse yet, are working for one; then in addition to worrying about the product, getting customers, and the rest of the team; you also have the joy of worrying about funding. If you happen to be at one of those places that is worrying about funding right now, I hate to break it to you, but unless you've already seen a term sheet from potential investors; its time to batten down the hatches and get ready to stick things out for the long haul, because funding isn't going to happen any time soon.

Now if you're a founder, and you've been talking to the investors yourself, then this probably isn't really a big surprise. You were hopeful, and maybe a little to optimistic, but really in the back of your brain you were thinking that those guys with the big checkbooks weren't really going to move anytime soon. However, if you are one of the ones back at the office, hunkered down at a computer screen, working on the latest changes to add support for call data records from yet another carrier (because the CEO can't make up his mind which carrier to use), and you are hoping that funding will come in sometime before summer so you can get a real paycheck, and maybe get the air-conditioning fixed in your car; then I regret to inform you that its not going to happen.

The earliest you're going to see any action on the funding at this point is September, or maybe October. But that's like six months away, what the heck is going on? Well, unlike you and me, venture capitalists (and all their minions), have real lives, and do things like go on vacation. So, even though they still have meetings for the next month or so (just to put up a good show for their limited partners), they're going to be sitting in those meetings trying to figure out if they should vacation out in Martha's Vinyard this summer, or maybe try out that villa in Italy their friend told them about. And because any important decision requires all the partners to meet and discuss it; the whole summer gets wiped out by one vacation after another. You're just sunk at this point.

I don't mind so much when a startup I'm working for is not going to be able to make good on its promises right away, but its really annoying to be planning on one thing, when all along someone else knew it wasn't going to happen. Its not a problem that's unique to VCs or startups though, I run into it in business all the time, like when I try to buy a house. After having the loan manager go on vacation (usually for two weeks) right in the middle of my mortgage application on three different purchases, I finally added it as a question on my qualifying list for mortgage companies:

Of course, after getting assurances that the loan manager wasn't going anywhere for my fourth mortgage, it proceeded to get hung up when someone else who had to sign off on the loan was on vacation. Sigh.
 
Comments: Post a Comment

<< Home
Life in the middle of nowhere, remote programming to try and support it, startups, children, and some tinkering when I get a chance.

ARCHIVES
January 2004 / February 2004 / March 2004 / April 2004 / May 2004 / June 2004 / July 2004 / August 2004 / September 2004 / October 2004 / November 2004 / December 2004 / January 2005 / February 2005 / March 2005 / April 2005 / May 2005 / June 2005 / July 2005 / August 2005 / September 2005 / October 2005 / November 2005 / December 2005 / January 2006 / February 2006 / March 2006 / April 2006 / May 2006 / June 2006 / July 2006 / August 2006 / September 2006 / October 2006 / November 2006 / December 2006 / January 2007 / February 2007 / March 2007 / April 2007 / June 2007 / July 2007 / August 2007 / September 2007 / October 2007 / November 2007 / December 2007 / January 2008 / May 2008 / June 2008 / August 2008 / February 2009 / August 2009 / February 2010 / February 2011 / March 2011 / October 2011 / March 2012 / July 2013 / August 2013 / September 2013 / October 2013 / November 2013 / December 2013 / December 2014 / February 2015 / March 2015 / July 2016 / September 2016 / December 2016 / April 2017 / June 2017 /


Blogroll
Paul Graham's Essays
You may not want to write in Lisp, but his advise on software, life and business is always worth listening to.
How to save the world
Dave Pollard working on changing the world .. one partially baked idea at a time.
SnowDeal
Eric Snowdeal IV - born 15 weeks too soon, now living a normal baby life.
Land and Hold Short
The life of a pilot.

The best of?
Jan '04
The second best villain of all times.

Feb '04
Oops I dropped by satellite.
New Jets create excitement in the air.
The audience is not listening.

Mar '04
Neat chemicals you don't want to mess with.
The Lack of Practise Effect

Apr '04
Scramjets take to the air
Doing dangerous things in the fire.
The Real Way to get a job

May '04
Checking out cool tools (with the kids)
A master geek (Ink Tank flashback)
How to play with your kids

Powered by Blogger