Ask HN: Should I give up trying to be a founder?
Hi HN! Throwaway account for obvious reasons. I left my high-paying FAANG job 10 years ago to become a founder. I've started 2 companies since then. I have yet to have an exit. The first one was VC backed. The company wasn't doing great after raising our series A, so the investors replaced me with a "professional" CEO. A year later they invested more money into the company at a $1 valuation and erased all my equity. I went several years with no salary, and then lost all my stock. The second one is a bootstrapped, tech-enabled services company. We've been barely profitable since we started almost 5 years ago. The economic slowdown hit my company hard. Revenue is down 40% this year. We've been running at a loss for a few months. I now have $200K in debt on the business. We've been trying hard to turn things around, and things have improved, but I'm n
Why it failed
Hi HN! Throwaway account for obvious reasons. I left my high-paying FAANG job 10 years ago to become a founder. I've started 2 companies since then. I have yet to have an exit. The first one was VC backed. The company wasn't doing great after raising our series A, so th
- Kind
- startup
- Status
- Shut down
- Inventor
- throwawayU4ueMC
- Ended
- 2023
- Source
- hackernews