This is the world we live in. Question, detain, and let the courts handle the interpretation of the law. Whether it's the NSA, FBI, CIA, it matters very little to them. After 9/11 we as a country wrote them a blank check. And while this guy shouldn't have taken to twitter to say planes can be hacked pretty easily, it's not shocking to see what happened after he did.
A lot of people believe that raising capital is completely necessary for your business to succeed. However, many do it and achieve great success. Not raising money slows growth in most cases but what you gain in control and complete ownership outweigh the the risk. It's not for everyone but I feel like raising money is the benchmark for success in people's minds. Which to me has always been silly. Raising funds is not for every business. Good read. Wish you guys all the luck.
I don't buy that not raising money slows growth. Your growth is a factor of finding product market fit. Fast growing companies are not doing it because they spent millions on a super bowl add- they are not buying growth (and when they do it turns out to not be real, and thus you end up with the situation like groupon)
Fast growth is about finding a product that resonates with the market and leveraging that.
That takes time and attention-- not money.
And what do you give up when you chase VC money? The time and attention of the CEO who should be the one finding that product market fit opportunity!
Thanks. While I agree for the most part, I do think that raising money is an important validation. Often you hear about a project you wouldn't even consider interesting, but when it's accompanied by "raised X MM from Y", your perception changes.
Also, it's that head-turning thing. They say "we raised X" and you start listening. I had something similar with my downloads count. Honestly, I didn't think 1 million is all that special, but over time I learned I should start most of my pitches with. People just start to listen.
Yeah and I'm not saying it's a bad choice. I just think too many people put so much importance on whether or not a company raised money as a measurement of success. When the reality is many companies can do it on their own, control complete ownership, and still achieve a level of success that many companies that raise money see. It's really just based on where your company is headed and whether or not you're eyeing an exit for your company. If you are looking to sell, be acquired, or go IPO then raising funds makes complete sense.
It makes me happy to see other markets besides Silicon Valley and SF (yes I do not consider SF part of the Silicon Valley) get some attention about what they're doing.
US News did a great piece about my hometown, Portland about how it's becoming a great place to start a company.
I can attest to this. SF is a great place to start a company, but Portland is a different world. People are much more collaborative. If you start a company here, you'll be able to find help. It's incredible. I'm Bay Area born and raised, but I'll never go back. The underserved markets are less toxic, more collaborative, and foster an ecosystem in which people can focus on their product or services without a lot of underlying tension.
