They Just Don’t Listen': SF Kimchi Maker Saw 'Food Tech' Practices Up Close
The article is a little misleading. I too operate without VC funding and behave in a ways similar to the small business owner -- because I am one. But to apply the philosophy of a small business to a startup would be a big mistake. Startup founders and their VCs behave the way they do, because they are optimising for different things than a small business owner like me. I am optimising for survival, a startup founder is optimising for the expected size of the outcome. The possibility of ruin in that expected outcome is taken into account in the VCs calculation. As long as one is clear about what one is optimising for, both strategies are fine. Problems only begin when you take VC money and behave like a small business owner. Or behave like you have VC money when you are, in fact, a small business owner.