re: I am a YC alumnus & 3X VC-funded founder-CTO. AMA! VIEW POST

FULL DISCUSSION
 

How successful are your startups, did you have any near misses with going out business or running out of funding?

And if so, how did you handle those situations? :)

 

I've had a couple of exits with my previous company and learnt very different things through the acquisitions and failures. Even though my last company shut down (because we were burnt out as a team), I learnt how to scale a product growing at 15% day-on-day for 4 months straight.

As a founder, there have been 2 occasions where we couldn't pay ourselves salaries for 3 months straight. At both those times, what helped us the most was:

  1. Being honest with the team. At all points, we took the entire team into confidence. This helped us retain all our engineers, even in low times.
  2. Always trying to do right by the team. Even when things don't work out, we always ensured that everyone on the team had another job before we shut down.
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