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Ask HN: Sell my startup for $14M because I can't raise $2M?

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Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#71

Post by pfarnsworth »

mrfusion wrote: post #53
jonnathanson wrote: post #40

Earlier quoted context omitted.

"Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet?" I know you're kidding around here, but all kidding aside, whether your net worth is $14M or $50M, you can't afford a jet. (I mean, nominally speaking, you can front the sticker price -- but you'll get eaten alive on fuel and maintenance over the jet's useful lifespan, and the jet as an ass…

Would a small helicopter make more sense?

I worked with one of the cofounders of Intuit. He has what he described as the "Honda Accord" of helicopters. If someone worth many hundreds of millions only has an average helicopter, you probably need many tens of millions for a small helicopter.

Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#73

Post by cialowicz »

mrfusion wrote: post #53
jonnathanson wrote: post #40

Earlier quoted context omitted.

"Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet?" I know you're kidding around here, but all kidding aside, whether your net worth is $14M or $50M, you can't afford a jet. (I mean, nominally speaking, you can front the sticker price -- but you'll get eaten alive on fuel and maintenance over the jet's useful lifespan, and the jet as an ass…

Would a small helicopter make more sense?

Maybe a used TBM 850?

Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#74

Post by chx »

jonnathanson wrote: post #40
austenallred wrote: post #11

A few things, though it's hard without much info (re: revenue/growth). Regardless: 1. A $14m sale is a huuuge win. You'd be set for life. A 100% likelihood of $14m is something that is difficult to turn down in almost any scenario. Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet? Let's say you take the $14m. Your life would (presumably) ch…

"Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet?" I know you're kidding around here, but all kidding aside, whether your net worth is $14M or $50M, you can't afford a jet. (I mean, nominally speaking, you can front the sticker price -- but you'll get eaten alive on fuel and maintenance over the jet's useful lifespan, and the jet as an ass…

At 14M you are already in the territory where a jet card is definitely something you could afford. If I had that sort of money, I would use a jet card for flights within a continent and go first class commercial for intercontinental (and definitely use VIP terminal or at least meet and greet services).

But at 50M you might be looking at fractional jet ownership already.

There is a difference and it's a big one.

Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#75

Post by nebabyte »

zupreme wrote: post #47

Learn from my mistake. Unless you're already financially secure (meaning you could stop working and live your current lifestyle for several years) then my advice is to take the money while you can OR to leverage that valuation to pocket a few million $ (by selling equity). I'm doing great with my current startups now but several years ago I founded a very promising startup which almost immediately got many acquisitio…

Out of curiousity, what was that first startup?

Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#77

Post by weaksauce »

jonnathanson wrote: post #40
austenallred wrote: post #11

A few things, though it's hard without much info (re: revenue/growth). Regardless: 1. A $14m sale is a huuuge win. You'd be set for life. A 100% likelihood of $14m is something that is difficult to turn down in almost any scenario. Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet? Let's say you take the $14m. Your life would (presumably) ch…

"Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet?" I know you're kidding around here, but all kidding aside, whether your net worth is $14M or $50M, you can't afford a jet. (I mean, nominally speaking, you can front the sticker price -- but you'll get eaten alive on fuel and maintenance over the jet's useful lifespan, and the jet as an ass…

In a somewhat crude and related note. felix dennis (the week weekly magazine founder) once said, “If it flies, floats or fornicates, always rent it.”

Not completely bad advice for most rich people that want to stay rich.

Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#78

Post by kevan »

secondmod wrote: post #58
mrfusion wrote: post #53

Earlier quoted context omitted.

Would a small helicopter make more sense?

Will bunch of Cessnas do? 50k to 150k per plane https://www.globalair.com/aircraft-for-sale/Cessna-172

You don't even need a $500k net worth to afford a Cessna. Most guys I know that have them are firmly middle class. They have to make some compromises on houses and cars, but it's worth it to them because they love to fly.

Re: Ask HN: Sell my startup for $14M because I can't raise $2M?

#79

Post by bspn »

I know you're framing this as a failure to raise, but believe it or not you're in a very fortunate position that most founders (including VC-backed ones) would kill for. You have complete control of the decision and by the sounds of it relatively firm interest from buyers at a decent price. You can either take-the-money and move onto the next venture secure in life, or double-down and swing for the fences to see if you can achieve that $400m exit. Once you take external money, you lose that flexibility as your investors will usually dictate when and how you exit. If it were me, I'd cash out now but I appreciate it can be difficult to let go of your baby.
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