During the boom, if you asked any startup in the Valley when they planned on going public they’d tell you “about 18 months.â€
Come back in 18 months and you’d hear the same talk. This continued until IPO’s become radioactive. Post boom you hear these same people espouse having a “path to profitability,†which is a sure barometer for the fact that they actually have no such plan.
After working at four startups, I can see clearly from the inside that most of these strategies are wishful thinking tied together with two matchsticks: that’s why luck is so important.
A lot of startup people spend an inordinate amount of time messing with their Excel spreadsheets of revenue and growth projections until the numbers say they’re going to be profitable. When you read, “the intelligence and facts were being fixed around the policy,†a startup person knows this is what you get when you elect a CEO president: someone simply forgot to prefix the word “failed†in front of his title.
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