Last December I was invited by GrameenPhone Whiteboard to present a keynote at the FundStarter Event about my Investment Experience in Bangladeshi Tech Startups. It was a closed-door event, and they allowed me to share my experience freely. It was a very blunt presentation, where I spoke from my experience why I invest, what works and what are the main reason startup fails here.
MailChimp recorded $280 million in revenue in 2015 and is on track to top $400 million in 2016, but they never raised a single dime from Venture Capital, wholly owned by Mr. Chestnut and his co-founder, Dan Kurzius — now employs about 550 people, and by next year it will be close to 700.
Raising money in Silicon Valley style, and running it the way Venture Capitalist pushes mostly teaches you bad habits from the start, and you end up being too good at spending money, via Showing-Up and also targeting Un-Natural Growth.
I really don't like the idea when a ‘normal‘ startup seeks for ‘external‘ investment only for R&D. In this small post I will try to explain my points.