Steve Blank

OCTOBER 24, 2017

— Unremarked and unheralded, the balance of power between startup CEOs and their investors has radically changed: IPOs/M&A without a profit (or at times revenue) have become the norm. Typically, this caliber of bankers wouldn’t talk to you unless your company had five profitable quarters of increasing revenue. Board Control.

Founder 269

Founder Technical Review CTO Hire IPO 269

Steve Blank

MARCH 17, 2020

Here are a few thoughts about operating in uncertainty in a pandemic. Next, take a look at your actual revenue each month – not forecast, but real revenue coming in each month. If you’re an early stage company, that number may be zero. If so, whatever revenue forecast and sales cycle estimates you had are no longer valid.

Burn Rate 436

Burn Rate Startup Valuation Sales Cycle 436

David Teten

SEPTEMBER 5, 2014

This is particularly true in New York, where their traditional financial services industry client base has sustained significant damage since the 2008 financial crisis. If you’re a late stage company trying to penetrate a new market (think Warby Parker trying to expand internationally), we have people who can help with that.

New York 114

New York Technical Review Networking Advisory Board 114

The Startup Magazine

FEBRUARY 6, 2020

Private Equity sees infrastructure investing as uncorrelated diversification and has the additional upside of correcting any operational inefficiencies. Later stage Private Equity buyers rely more on existing hospital management and employees than in other industries.

Private Equity 164

Private Equity New York City Chicago Investment Bankers 164

K9 Ventures

JUNE 5, 2015

So while the infrastructure cost and startup costs may have declined, the operating costs have increased. Together this means that Seed stage companies need to run longer and at a higher expense structure, meaning they need to raise a lot more capital. A re-jiggering of deal stages and sizes had begun in 2013.

Seed Stage 48

Seed Stage Venture Capital Early Stage Valuation 48

Berkonomics

NOVEMBER 21, 2013

The days of being able to trust that there will be an investor or lender on the other end of a call or email whenever needed ended with the 2000 and 2008 bursts of those respective bubbles. There is no longer a guarantee that VCs and later stage investors will be waiting at the run-out point of the angel money to pick up and grow the company.

Later Stage 83

Later Stage Early Stage Email Revenue 83

View from Seed

JANUARY 26, 2016

For reference, First Round Capital and Softech were founded in 2004 (although they were less institutional early on), Floodgate in 2006, Harrison Metal in 2008, etc. So, between 2008 and 2013, the early-stage landscape looked more like the middle segment of the chart. FWIW, that is not how we operate.).

Seed Stage 120

Seed Stage Early Stage Cofounder Finance 120