This is terrible advice. It's literally telling someone to make a business decision based on faith. It sounds like the guy is maybe trying to convince himself to keep going.
I'm not saying this from my gut, either. It's from experience.
I have started and invested in ~10 companies, advised 50+ companies, and generally been involved in my US city's startup community for the last 15 years. I read startup news daily (and avoid "VC twitter" -- not sure if this guy is part of that, but he sounds like it).
I have never, not once, seen a startup "give up too quickly" -- it's always the opposite. I have never even heard of this happening.
It's so painful to give up on a startup (personally and financially), people will go to enormous lengths to delude themselves that it's a good idea to keep going forward.
Time may or may not bring you some lucky break. Most likely it won't. Time doesn't suddenly make people want a product that you haven't been able to sell.
I'm not saying this from my gut, either. It's from experience.
I have started and invested in ~10 companies, advised 50+ companies, and generally been involved in my US city's startup community for the last 15 years. I read startup news daily (and avoid "VC twitter" -- not sure if this guy is part of that, but he sounds like it).
I have never, not once, seen a startup "give up too quickly" -- it's always the opposite. I have never even heard of this happening.
It's so painful to give up on a startup (personally and financially), people will go to enormous lengths to delude themselves that it's a good idea to keep going forward.
Time may or may not bring you some lucky break. Most likely it won't. Time doesn't suddenly make people want a product that you haven't been able to sell.