PSA: What 8 years in startups have taught me

Alright folks, time for some real talk. I fucked up. Big time. And I'm here to share my story so you don't make the same mistakes I did. Back in 2021, I co-founded a web3 startup. Yeah, you know where this is going. I was caught up in the hype, the FOMO, the promise of changing the world through DAOs. Spoiler alert: We raised more than $5M in seed funding, burned through half of it, never hit product-market fit, and ended up shutting down and returning the remaining capital to our investors. Here's how it went down: It all started when I fell down the web3 rabbit hole. I read a few whitepapers, watched some YouTube videos, and suddenly thought I was the next Vitalik Buterin. I had this "revolutionary" idea for a DAO that would democratize venture capital. Sounds cool, right? I thought so too. Now, here's the thing - I'm a great pitcher. Give me a deck and 30 minutes, and I can make almost anything sound like the next unicorn. So, armed with buzzwords and a slick presentation, I hit the VC circuit. And holy shit, did it work. We were a great team, stellar credentials so were able to close the fundraise pretty quick. I still remember the day we closed the round. Popping champagne, dreaming of TechCrunch headlines once we did our Series A, all the jazz. But here's what I didn't realize at the time: I had zero conviction in what we were building. I was so caught up in the excitement of raising money and being part of the "next big thing" that I never stopped to ask myself if I truly believed in what we were doing. Reality hit hard and fast. As we started building, I realized I didn't really understand the problem we were solving. Our target users weren't as excited about the product as we were. We pivoted, then pivoted again. But nothing stuck. Eighteen months in, we had burned through $3M, had no clear path to revenue, and my co-founder and I were at each other's throats. That's when it hit me - we needed to shut this down before we wasted any more of our investors' money. Making that call was the hardest thing I've ever done. Telling our team, our investors, our families - it sucked. But it was the right thing to do. Here's what I learned from this expensive and humbling experience: 1.⁠ ⁠Hype is not a business model: Just because something is trending doesn't mean it's a good business opportunity. Do your own research, understand the market deeply. 2.⁠ ⁠Raising money ≠ Success: It's easy to get caught up in the vanity of a big round. But money just buys you runway, not success. 3.⁠ ⁠If you can't explain it to your grandma, you don't understand it well enough: I couldn't clearly explain our value proposition without resorting to buzzwords. Red flag. 4.⁠ ⁠Team alignment is everything: Make sure you and your co-founders are on the same page about the vision, not just the potential payout. 5.⁠ ⁠Listen to the market, not your ego: We ignored early signs that users weren't as excited about our product as we were. But the biggest lesson? You need 100% conviction to run a startup. Not 90%, not 99%. 100%. Building a company is hard. Really fucking hard. There will be days when everything seems to be falling apart. If you don't have absolute conviction in what you're building, you won't have the resilience to push through those times. Looking back, I realize I was more in love with the idea of being a founder than with the problem we were solving. I was chasing clout, not impact. To anyone out there thinking of starting a company: Please, please, please make sure you have unwavering conviction in your idea. Make sure you're solving a real problem that you deeply understand and care about. Don't do it for the hype, the money, or the status. Do it because you can't imagine doing anything else. As for me? I'm taking some time off to reflect. Next time (if there is a next time), I'll make damn sure I believe in what I'm building with every fiber of my being. I sort of see this happening now with AI, please take a pause. Let's learn from each other. Because trust me, learning this lesson the hard way? It ain't fun. Keep building!

I'm surprised to see on the comment section that people actually support this load of crap. To any newbies or freshers entering tech this year, don't follow this advice. These CEOs exploit your time to gain revenue and when the time is not good they wouldn't think twice before considering layoffs. Just do your job and go home to your life and family. This advice only applies to entrepreneurs who have huge stakes in the company. Because if the company do well they get millions in returns as dividends. As an employee, even if you work for 25 hours you only get the same salary. Don't follow any so called self procalimed entrepreneurs advocating for the hustle culture. You hustle for your life, not for your boss or your job.

I am a 6 yrs experienced Software developer and part of a mid-stage startup. This is my third job; I have been working here for 3 years. I was involved here as one of the core engineers at the start in developing the overall platform, After that, my growth as an engineer stagnated for 2 years . Constant importance and priority are given to business requirements and hacky work getting pushed to production in the name of fast iterations and business impact every week. My engineering manager lacks proper engineering skills and doesn't respect engineers even after their impact on the company and constantly keeps saying the engineering team doesn't contribute to the revenue of the company despite us pushing work that improves business positively. Last year around November, around 80% of the engineering team was subtly suggested to start looking out for work (basically a soft layoff) because management was too scared of a social media backlash Due to all this,2 years' worth of technical debt has accumulated on the overall codebase and apart from giving justification for every code improvement that we try to make there, we still have to work on business/product requirements. My growth as an engineer has stopped and I am worried about missing out on the latest developments in the tech industry, especially with AI in the picture, and want to make my skillset somewhat AI-proof. I have come back to hands-on coding this year , so that's a positive start. I am considering taking a 3-4 month break after resigning from my company to study, develop side projects, develop a portfolio etc Has anyone else been in this boat ? How did you come out strong?

Kya dikat hai bhai, udane do paisa. Tumhare thodi hai. Good firms genuinely perform well and return money. The ecosystem is not forgiving -- you don't survive very long if you don't create any big wins. It's an extremely high stress job with very little WLB. You do make money but it comes at a cost. Layoffs are sad but at least those jobs existed in the first place? They wouldn't without VC money. India's VC scene is extremely young and it'll take time before we produce a Google. Entrepreneurs are not always right, they are not always nice either; but they definitely are courageous.

What an absolute shit show https://www.moneycontrol.com/news/technology/fraud-threats-sexual-harassment-zilingos-ankiti-bose-files-fir-against-co-founder-ex-coo-12706929.html

Been long since I wrote here. A casual post to discuss anything startup/VC related. Which startups are doing good, which ones not too good. Especially if you're a founder - how is the market feeling? My pov: despite the excess capital with VCs, funding is still very much dry. For a bit during the last year, there was a flurry of investments in SaaS and AI. Even that has dried up now. Slowest I have seen. Why: I think there's no push factor to invest, there's a lack of people starting up (vs. previous years). Awaiting some inflection point, so that things kickstart again.

It's gonna be long thread. I have been working as lead engineer in a early stage startup since last one year. Founder (20 years exp in Product Management) raised some money from friends & family to start it and but company was running negative from February and he put his money to pay employees salary for March & April and We were hoping for some investment in April but that didn't happen. During May & June, he was looking for funding more aggressively and even after having a good background in academics & top tech work experience in product management, no investor got convinced to invest in it. Our salary for March & April was delayed from actual payroll date by 7 days and 21 days respectively and We were expecting our May salary to be delayed by same period and our company was about to complete one year in first week of July so we had some one year benefits associated as well. But Boom, he invited everyone on call and tells that company will shutting it's operation from next day itself. And he will help us find our new jobs and he doesn't any clarity on pending salary. Although we knew, our company is not in good shape so salary cut or something might be happening soon but didn't expect this. Now, we have to find other jobs and also be unemployed while searching for job and also get exploited by other companies because we will be desperate to find jobs to pay our bills. I think, he did this just before 5-6 days of our one year anniversary just because he doesn't get legally bound to pay our one year benefits. I for sure, not gonna join any early stage in future who doesn't have enough funding. Just wanted to put this story out of my mind. Open for any suggestions you have for me Thank you

I have a remote job with 250k USD/2CR base salary and get to travel for free internationally 6 times a year to beautiful places in Europe. My manager is a saint and I don’t think I will ever find someone as good as him. I am considering leaving this job to startup. I would love to hear everyone’s unfiltered thoughts on this please 🙏🏼 Firstly, this is not a fake post - Luckily I have been one of the few people who were early in AI to train very large LMs, so I have an edge and get paid crazy money for it. Why am I leaving? Over the last one month I had time off from work to build a new AI capability for coding assistants. It’s a technological breakthrough and my AI is 10X cheaper and has 100% codebase coverage for automatic feature development, bug fixing and automating 3rd party integrations into your very large codebases. Others are working on it as well, but I have achieved higher results on public coding assistants benchmarks(SWE-bench). I believe in this breakthrough and technology, and this is the absolute right time to build it, not 6 months ago, not 6 months later - too early and too late. This could potentially be my next moonshot or I could also fail, but learn a lot in the process and not have regrets 5 years down the line in not pursuing a breakthrough in AI that someone down the line is going to monopolise. My financial situation is good and bad - I have NW of 3.2 Cr, but they are tied in 2 real estate properties - I am aware that this is stupid to not have anything liquid. I have a running home loan of 1Cr to the bank and 30 lakhs to be paid to my Dad, these two are my biggest mental blockers. My wife(married early this year) earns really well as well and I have some ~20L liquid, so day to day runway is of easily 1 year. Finally, I don’t believe that it I leave my current job, I will ever get another international offer that pays this well in cash and has remote work given how to market has changed recently. I am trying to disassociate from a greed mindset and looking into a potentially very high exponential growth/learnings. Please provide your suggestions frens, I am planning to speaking to my manager on Monday 🌻🌻

So I interviewed for a SaaS company serving US clients. I got selected after three rounds (basic email chat, built a project, technical coding round at last) and got selected. Finally, it was time to discuss salary and joining date with the CEO. He was impressed by the about section on my portfolio, where I mentioned that I like to go on treks, hikes, read books, lift weights, go on a run, etc. During our call he mentioned that everyone at the startup works 6-7days a week, 12hrs a day and asked if I'd be fine with it as I have a "happening life". I said that I'm not used to it but I'll manage and work in appropriate working hours. He seemed to agree on it. But he ghosted me after that, and when I pinged him in the email thread; he said he's not moving ahead with me because my other properties won't allow me to "work as much as other employees". How am I supposed to react to this lol