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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?

#171

Post by sebbean »

wheelerwj wrote: post #123
erex78 wrote: post #94

Earlier quoted context omitted.

There is a lot of advice on the thread saying: take the money. Given your personal situation etc. this may very well be the right choice. But you need to realize that just because you've been approached for acquisition and even if somebody tells you straight up "we want to acquire you", it sounds like you are far away from actually getting acquired. The road from casual interest to money in the bank is long and bumpy…

> Unless you actually have a term-sheet in your inbox, you aren't in the position to make this decision right now. even then, its not over till the cash is in your account.

that's after you make the decision oy

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

#172

Post by nodesocket »

hpcjoe wrote: post #135
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…

This +100 One day I'll write my story. A few acquisition offers, some investment offers. Foolishly we rejected them. Company when bust with the help of a bank last year. Same rules as in baseball. Don't swing for the fences. Many singles and doubles win you the game. Homers and grand slams are infrequent and elusive. Had the same sort of capital issues. Same problem with VCs... I'll write my thoughts on them some day…

Love the baseball analogy and absolutely true. I slightly modified and posted to my twitter:

> Startups like nearly everything in life can be equated to baseball. Don't swing for the fences. Many singles and doubles over the long haul.

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

#173

Post by zdragnar »

hexadecimated wrote: post #101
osteele wrote: post #84

Earlier quoted context omitted.

I dined once with a billionaire and a couple of multimillionaires. The billionaire owned a jet. The multimillionaires were envious of him because they only owned jet timeshares . (If you own your own jet, it's always where you want it, you can decorate it the way you want, and you can leave your stuff in its bedroom and living room. It's like having a pied-à-terre in a city instead of renting a hotel room each time y…

Such hideously wasteful extravagance, and how sad that these people who are already absurdly rich are still greedy for more.

Buying a jet creates high paying, skilled jobs which support families, their children's education, and so forth. The downstream effect from the purchase includes the pilot, the airport expenses, maintenance crew, and the taxes on the expenses and all of those salaries.

Not a cent of the money is in any way wasted.

I'm reminded of the Maryland luxury tax, which allegedly crippled their boat building industry and put a lot of middle class people out of their jobs. I say allegedly because I remember the story, not the source that confirmed that there weren't other coinciding factors.

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

#175

Post by dwaltrip »

T2_t2 wrote: post #132
hexadecimated wrote: post #101

Earlier quoted context omitted.

Such hideously wasteful extravagance, and how sad that these people who are already absurdly rich are still greedy for more.

Not really. Buffett bought a jet, after calling it indefensible for years, and actually named it The Indefensible. I reckon it is a good investment for many CEOs. There time is worth FAR MORE to their companies than whatever a jet costs to run, the saved time is invaluable as is the clarity that comes with better conditions when flying.

How much time does owning a jet actually save?

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

#176

Post by bilbobagends »

T2_t2 wrote: post #132
hexadecimated wrote: post #101

Earlier quoted context omitted.

Such hideously wasteful extravagance, and how sad that these people who are already absurdly rich are still greedy for more.

Not really. Buffett bought a jet, after calling it indefensible for years, and actually named it The Indefensible. I reckon it is a good investment for many CEOs. There time is worth FAR MORE to their companies than whatever a jet costs to run, the saved time is invaluable as is the clarity that comes with better conditions when flying.

He changed the name to the Indispensable.

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

#179

Post by bilbobagends »

dwaltrip wrote: post #175
T2_t2 wrote: post #132

Earlier quoted context omitted.

Not really. Buffett bought a jet, after calling it indefensible for years, and actually named it The Indefensible. I reckon it is a good investment for many CEOs. There time is worth FAR MORE to their companies than whatever a jet costs to run, the saved time is invaluable as is the clarity that comes with better conditions when flying.

How much time does owning a jet actually save?

Door to door from NYC to NC is about 4hrs best case commercial and 2hrs private (Teterboro). Longer distance saves less as a percentage.
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