1min chapter

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#1121 Mike Salguero | The Founder Who Bootstrapped To $500 Million In Revenue

The Pomp Podcast

CHAPTER

Venture Capital Firms Are Playing a Long Term Game, Right?

"We kept burning money. And so at the very end, we had taken a small venture debt line as part of the 18 million," he says. "And that bank was like, your bank balances below what you owe us and none of your investors are willing to pony up anymore." He adds: "So they basically did a foreclosure. Friendly, they just throw that in for just to make you like, you know, smile while they do it"

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