Who Owns The Company?

Image via WikipediaI have been meaning to write this blog post for a while now, months, possibly over a year. Finally I am getting around to it. It has become urgent. I have a pre-launch startup.

For conventional wisdom I am going to refer to this, but later.

Mark Peter Davis: Entrepreneur's Guide To Raising Venture Capital

I do know Mark, but that is not why. And this might or might not be the best guide out there to venture capital. But I expect it to be sufficiently good to provide me with the framework of the venture capital business as it stands today. But I have made a point not to read through his posts. I want to express my thoughts before I get corrupted by conventional wisdom.

So who owns the company? Just like I have a bias for Founder CEOs, I have a bias for startups that will go IPO. And it is those two scenarios that I have in mind. So my thoughts might not resonate with startups with other kinds of exits, which ends up being most startups.

You Have To Be A Little Wild

Image via WikipediaYou have to be a little wild to be doing the tech entrepreneur thing.

For one, the risks are high. All else equal you will more likely fail than succeed. The success stories make it to the press. The sob stories? There's not enough newsprint on the planet. And it is not one risk, one hump you get over. There are risks after risks after risks. Every step of the way. It is roller coaster. If you are not going to enjoy the ride, the solace of some day reaching the destination might be false. You might never get there. The journey is where it is at. The journey itself is the reward. If you don't think so, get into another line of work.

You have to be able to look at the establishment and look the other way. You have to be able to look at the status quo and sneer. You have to jolt. You have to give them the finger.