The step in that process you left out was "years-long massive earthquake-level crash leading to complete economic collapse of the micro-economy under discussion", the kind where most of the casualties are all the smart non-founders in the industry.
Been there, done that.
The primary reason I'm involved in this community is that I was in London before the first crash. Us internet people had been there for a decade or more, but all the investment money was going to some twat in a suit who had no cocking idea what was going on, or why.
Outside the little Nirvana that pg and company (among others) have created, the same rules apply.
[All of the following may be completely Euro-specific.]
Talentless schmucks get all the money available because they're the {sons|nephews|mistresses|cabana boys} of other people with money, and then try to hire us to fill in the yawning chasms (they call them 'gaps') in their plans.
The only winning move is not to play. Do your own thing, but ferchrissakes don't start working for some family-moneyed fool because "appz R h0tt and we're all gonna get rich". If you're gonna take a risk, at least ensure that the risk beneficiary is you. The one major thing I've noticed in this little playground of ours is this: it's not that you are going to have trouble raising money - it's that you're going to have trouble raising money because you're going to get lost in the deafening noise of trustafarian morons with connections, and they're going to win that funding battle.
That is why we need to play out of revenues and/or do our thing on ramen money: it's because the other method is massively stacked against us, and massively stacked in favour of idiots.
Been there, done that.
The primary reason I'm involved in this community is that I was in London before the first crash. Us internet people had been there for a decade or more, but all the investment money was going to some twat in a suit who had no cocking idea what was going on, or why.
Outside the little Nirvana that pg and company (among others) have created, the same rules apply.
[All of the following may be completely Euro-specific.]
Talentless schmucks get all the money available because they're the {sons|nephews|mistresses|cabana boys} of other people with money, and then try to hire us to fill in the yawning chasms (they call them 'gaps') in their plans.
The only winning move is not to play. Do your own thing, but ferchrissakes don't start working for some family-moneyed fool because "appz R h0tt and we're all gonna get rich". If you're gonna take a risk, at least ensure that the risk beneficiary is you. The one major thing I've noticed in this little playground of ours is this: it's not that you are going to have trouble raising money - it's that you're going to have trouble raising money because you're going to get lost in the deafening noise of trustafarian morons with connections, and they're going to win that funding battle.
That is why we need to play out of revenues and/or do our thing on ramen money: it's because the other method is massively stacked against us, and massively stacked in favour of idiots.