Earlier quoted context omitted.
GitLab being all remote has been a problem during fundraises. We mentioned it since we're transparent and inevitably investors will want to visit your office. During our latest D round it was a smaller problem since later rounds are more based on financial metrics and comparables (GitHub, Atlassian, Jfrog). But I wouldn't say that it is no longer a problem with VCs, many still have scaling concerns. As one of the bes…
Let me get it straight: You are increasing potential hires pool tenfolds, save a fortune by not playing the real-estate bubble game, effectively double your work day to almost 24 hours by spreading over timezones, and likely enjoy a 6-days work week - and VCs are worried about your ability to scale ? This is just astonishing to hear.
I always thought that the real estate game was intentionally part of the deal. The idea would be for a group of VCs to pick a target location (say, San Francisco), buy up the local infrastructure (housing, office space, coffee shops, etc), and turn around and rent / sell to the startups that you just funded. This would pad the ROI, so even a company that crashes and burns after 5 years would still be profitable on the basis of the rents paid.
This cycle wouldn't come into play with a remote team. And in that lens, the onerous zoning laws of the bay area make perfect sense