This is an alt account. I doubt I will use it to post again.
A friend of mine leads a startup. They are beginning to draw attention and are soon to go for investment funding. They make something to be used in sports, medicine, and space.
My friend is frustrated with the ecosystem’s current obsessions. ‘AI B2B SaaS’, making 10x returns in 3-5 years. None of it is sustainable. None of it solves real problems in a way that will keep them solved for decades to come. In a way that is truly new, and better than the old ways in consideration of social and ecological impact.
In your opinion, how might my friend best navigate their choices to positively influence the world? What actions would you take, in their shoes?
Whoa, I’m in their shoes right now!
Ok, the shoes are uncomfortable af and have holes, but mine are clean! I’ve lived with this tech company for 4 or 5 years now, and I never ever stained myself with VS bullshit. I might go bankrupt this month, I had harsh betrayals and market fluctuations beating the shit from me. I’ve got store with sales that are just too slow. I’ve delayed salaries for almost a month (except mine, I haven’t made any money for myself this year lol). I still refused to go for all those investor traps and I’m proud of that. Worst case - I’ll just go bankrupt and start over!
With investments, you’ll never get out clean, without betraying yourself. There will always be compromises. And you won’t get very much richer in the end, it’s a game where those “bad guys” will inevitably burn you unless you’ll become one of them. The rich will get richer and you’ve participated in burning the world? Not cool.
I’ve been there. I had in my hands technologies that save the world. I had nuclear waste treatment technology tested in Fukushima. I had sub-10 nm lithography in 2014 (and we showed it to Intel in hopes they’ll just hire us back then). Investors never want to save the world, they want coke and whores and to burn us all. Decision makers will keep messing things up. Only grassroots are sustainable.
(please do come to my store buy some weird stuff before it’s gone and I’m losing everything and starting another company again: https://store.zymologia.fi/)
Gosh, this post and especially all the comments singing with unison to my dream cheered me up, I’ve got to go do something good now!
Thanks for your response.
I immensely respect your drive. Many young founders I meet don’t have it in them to go bankrupt and then do it all again.
My friend aims to never touch VC funding, same as you. They have plans to push for many other funding avenues; but it is still kept as a last resort for the survival for the project. The view is that, at least, the technology will be made available and they can use the profit to fund their next venture independently of any outside investors.
I wish you the best of luck in your current venture and the next.
Thanks!
Just another a bit of advice: remember to reeeeeally carefully inspect grants; in many cases (almost always - but not always, I had some luck there in the end) they require supporting paperwork and other stuff that would effectively require you to spend resources comparable to grant funds themselves just to handle grant issuing party relations. Or they steal the IP in the end. Grants are dangerous poison, for once you have a team writing reports in payroll and rely on grants, it’s very hard to drop this, and people would rebel, and firing someone because you are not applying for grants in near future is very hard and often too unethical to do.