Protect Kids, Get F*cked

#1

Post by sabraham » Thu, Feb 14, 2013, 1:28 AM UTC

Re: Protect Kids, Get F*cked

#2

Post by sabraham » Thu, Feb 14, 2013, 1:30 AM UTC

This sounds like the story Jessica Livingston mentioned at Startup School 2012 http://news.ycombinator.com/item?id=4699862 >, if I remember correctly -- business in Texas got a term sheet, moved to California, investors pulled out when their user acquisition metric changed. Anyone have more color on this?

Re: Protect Kids, Get F*cked

#3

Post by pg » Thu, Feb 14, 2013, 1:47 AM UTC

sabraham wrote: post #2

This sounds like the story Jessica Livingston mentioned at Startup School 2012 http://news.ycombinator.com/item?id=4699862 >, if I remember correctly -- business in Texas got a term sheet, moved to California, investors pulled out when their user acquisition metric changed. Anyone have more color on this?

Yes, this is the same story.

Re: Protect Kids, Get F*cked

#4

Post by russell » Thu, Feb 14, 2013, 1:56 AM UTC

The real lesson is that the money isnt there until the check clears. Selling your house and moving on a promise is risky. Even trying to raise money is a huge drain.

Re: Protect Kids, Get F*cked

#5

Post by mtaubman » Thu, Feb 14, 2013, 2:37 AM UTC

Somehow I feel that a more accurate title would have been, "Fail to meet agreed terms, screw yourself".

Re: Protect Kids, Get F*cked

#6

Post by GuiA » Thu, Feb 14, 2013, 2:39 AM UTC

The title is a bit disingenuous, but the story is worth reading. Thanks for taking the time to write and share, Jason.

Re: Protect Kids, Get F*cked

#7

Post by thoughtcriminal » Thu, Feb 14, 2013, 2:49 AM UTC

The title is misleading, immature and in poor taste. If HN moderators had a clue, they would edit it.

Re: Protect Kids, Get F*cked

#8

Post by jere » Thu, Feb 14, 2013, 2:52 AM UTC

As an old teacher of mine used to often say, "Check's in the mail. Love you in the morning."

Re: Protect Kids, Get F*cked

#9

Post by michaelochurch » Thu, Feb 14, 2013, 3:03 AM UTC

We went back to other investment firms that we had also received term sheets from prior to committing to Benchmark, but after Benchmark pulled out, the news spread and we had the scarlet letter, or maybe the scarlet zero.

This is why VC-istan is dead. (Not actually dead, but "Microsoft is dead" dead.)

Re: Protect Kids, Get F*cked

#10

Post by jpatokal » Thu, Feb 14, 2013, 3:05 AM UTC

Let me just quote one bit of that:

Our service was free as we were working out the business model. We actually had a genius business model but hadn’t implemented it yet. We wanted more users so we spent money on marketing.

Maybe the real problem wasn't the insurance?