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Ask HN: I'm lost. Please help

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Re: Ask HN: I'm lost. Please help

#161

Post by btrautsc »

Man, I've felt your pain. This quote gave my stomach knots:

"I respond half-jokingly that every day is either the best or worst day of my life, that I've experienced the highest highs and lowest lows of my short career"...

That is the most accurate depiction of startup life in my experience. Many times it is unfortunate. Many times it is euphoric. I wrote one of my mentors an email similar to that very recently.

Lots of people here are giving you advice like you asked - do this, do that. I'm not wise enough to tell you what to do. I'll only say this, you seem to love the product you are building, so there is something in this endeavor worth while. Obviously, you need money to live. You need to eat and have health insurance. That is your life we're talking about.

The stress is sometimes nearly unbearable, and you feel like you are all alone when you talk to your "normal" friends. But look at this section, 150+ comments from people who understand the stress, the frustration, the highs & lows. You're not alone. You can make it.

Re: Ask HN: I'm lost. Please help

#162

Post by mistermann »

michaelochurch wrote: post #154

Here's the best strategy at this point. Talk to the VCs. Thank them for sharing their opinions. They did a good thing that a lot of investors don't do: they gave you an actual rejection, rather than wasting your time with "we just need more information" and indefinite deferral. Knowing nothing about your situation, it still sounds like you ended up meeting some good-apple VCs. Reach out to them and ask if there are a…

This is excellent advice!

Re: Ask HN: I'm lost. Please help

#163

Post by chris_wot »

chris_wot wrote: post #150

Oh my gosh. I worked fo a startup, the guy ended up owing me AUD$17,000 and has refused to pay it. Just cut your losses. The blue collar business people are lying to you. Just get out!

Wow, voted down? That's really what happened to me. If you haven't been paid, and they are constantly saying they will, then get out. They really aren't telling you the truth. You just have to cut your losses!

Re: Ask HN: I'm lost. Please help

#164

Post by dkrich »

28. That's the number of times you used the word "I" in that diatribe.

I think your biggest problem is that you are clearly focused on your troubles, your finances, your work on the product.

To succeed you're going to have to focus on the needs of your potential customers which, experience tells me, is most difficult to do when you are in a difficult situation. If you have a long enough runway, I would suggest taking a few days off, then spending some time away from your cofounders and the computer and talk to potential customers. Do that for at least an entire week. It will completely change your perspective.

If your runway isn't long enough, get a job and work on this on the side. There are no shortage of ideas and regardless of what others tell you there will be another opportunity to pursue a startup and chances are you will be a lot wiser about it the next go-round.

Re: Ask HN: I'm lost. Please help

#165

Post by mikekij »

michaelochurch wrote: post #154

Here's the best strategy at this point. Talk to the VCs. Thank them for sharing their opinions. They did a good thing that a lot of investors don't do: they gave you an actual rejection, rather than wasting your time with "we just need more information" and indefinite deferral. Knowing nothing about your situation, it still sounds like you ended up meeting some good-apple VCs. Reach out to them and ask if there are a…

I actually strongly (but respectfully) disagree with the advice about asking the VC for a position at a portfolio company.

VCs all know each other. If a startup's technical founder goes to a particular VC to let them know they're thinking of bailing, every other VC in the world (effectively) will have access to this information, and that company will never be able to raise funding.

If you're really committed to leaving (which is fine), I would cut ties with the company first, then start asking around. At least that way you don't leave the other founders in a weird limbo state where they effectively can't raise money.

Tell the other founders why you're leaving, and offer to introduce them to other technical people that may be interested in a consulting engagement / employment when they raise money.

I do, however, agree with the part about getting the paperwork in order. If they are successful in raising money after you leave, the other founders and future investors will likely do everything in their power to dilute your equity disproportionately. It would be worth the $500-$750 to talk to a lawyer and make sure all of your ducks are in a row.

Re: Ask HN: I'm lost. Please help

#166

Post by jacinda »

pchristensen wrote: post #17

"...I feel as though I've invested too much time and energy to bail now." Unless you feel there's a realistic chance of success within the timeframe that your personal situation allows, you should bail. Don't let the past trap your future. "I've learned more in the last year than I have at any other point in my life, and I've become a better programmer and designer. I've always said that even if this doesn't work out…

This is exactly what I wanted to say in response to his penultimate question:

"I can't imagine working for a big corporation again, but should I just give it up and get a "normal" job for a little while to build up some savings again before embarking on the next venture?"

There are plenty of small venture-backed startups that will pay you a good salary if you have the right skills. You just need to find the right fit.

Re: Ask HN: I'm lost. Please help

#167

Post by crapshoot101 »

mikekij wrote: post #165
michaelochurch wrote: post #154

Here's the best strategy at this point. Talk to the VCs. Thank them for sharing their opinions. They did a good thing that a lot of investors don't do: they gave you an actual rejection, rather than wasting your time with "we just need more information" and indefinite deferral. Knowing nothing about your situation, it still sounds like you ended up meeting some good-apple VCs. Reach out to them and ask if there are a…

I actually strongly (but respectfully) disagree with the advice about asking the VC for a position at a portfolio company. VCs all know each other. If a startup's technical founder goes to a particular VC to let them know they're thinking of bailing, every other VC in the world (effectively) will have access to this information, and that company will never be able to raise funding. If you're really committed to leavi…

This isn't true. There's plenty of information asymmetry in the VC world.

Re: Ask HN: I'm lost. Please help

#168

Post by 7Figures2Commas »

michaelochurch wrote: post #154

Here's the best strategy at this point. Talk to the VCs. Thank them for sharing their opinions. They did a good thing that a lot of investors don't do: they gave you an actual rejection, rather than wasting your time with "we just need more information" and indefinite deferral. Knowing nothing about your situation, it still sounds like you ended up meeting some good-apple VCs. Reach out to them and ask if there are a…

Most of the time, advice that includes the words "don't let your co-founders know that you're doing this" is worth ignoring and that's certainly the case here.

The author appears to have marketable technical skills and should be able to spin his startup experience to his advantage. There's no reason he can't resign professionally and seek new opportunities without involving any of the people connected to his current company.

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