71–80 of 94 posts
> - blockchain startup > - struggling to raise money > - tons of true potential Run.
My sentiments exactly. From promising startup to out of money in 2.5 months? As an executive, did you not have insight into these things?
Personally I wouldn't touch it. We're going on 10 years of 'blockchain' being inappropriately applied to anything and everything and you can still count the winners on one hand. It's illegal to set money on fire... but that would probably have a better chance of paying off. This is not financial advice.
Everybody else, including all the spectators, lose. After all, those coal fired power plants dump a lot of crap into the air to power the energy hog that is Satoshi's Blockchain.
If you have a few $m in the bank, go for it. It's a loss you can write off on your taxes. Otherwise run away. If they are laying off and desperate to raise funding the next round will dilute your % so much to be worthless. I am on my, hum, 6th startup, making millions on one, 3 crashing and waiting / zombie on 2 others. It is all a risk game, easier to play if you already have the buy in stake. If you do not, do not…
Investment loses aren't tax credits. You don't magically get all the money back. You'll only "get back" whatever your marginal tax rate is. You'll still be out the remainder of the cash you forked over.
I don't know your financial situation. Maybe $13K isn't much to you. However, I probably wouldn't buy these shares for the following reasons: 1) The company just fired all of its employees 2) The company just fired all of its employees 3) The company just fired all of its employees That's a really bad sign. Even if they raise additional money, it likely won't be on good terms. With the price of bitcoin way down from…
I have a friend who was first 50 at Amazon and let 50,000 Amazon options expire. He still did well but... FOMO is a real thing. $1000 is probably my cap in this situation however.
I don't know your financial situation. Maybe $13K isn't much to you. However, I probably wouldn't buy these shares for the following reasons: 1) The company just fired all of its employees 2) The company just fired all of its employees 3) The company just fired all of its employees That's a really bad sign. Even if they raise additional money, it likely won't be on good terms. With the price of bitcoin way down from…
4) The company just fired all of its employees
/s. An amusing and thoughtful response!
If you have a few $m in the bank, go for it. It's a loss you can write off on your taxes. Otherwise run away. If they are laying off and desperate to raise funding the next round will dilute your % so much to be worthless. I am on my, hum, 6th startup, making millions on one, 3 crashing and waiting / zombie on 2 others. It is all a risk game, easier to play if you already have the buy in stake. If you do not, do not…
> It's a loss you can write off on your taxes Investment loses aren't tax credits. You don't magically get all the money back. You'll only "get back" whatever your marginal tax rate is. You'll still be out the remainder of the cash you forked over.