This Week in Startups How to deal with failing startups + Team Wildfire CEO Steve Wolf on "Hurricane-as-a-Service" | E1563
Sep 18, 2022
Join Steve Wolf, CEO of Team Wildfire and former Hollywood stuntman, as he champions groundbreaking wildfire suppression technology using jet engine-powered devices. He dives into innovative concepts like "Hurricane-as-a-Service," exploring the ecological impact of wildfires and emphasizing the importance of forest management. The conversation also touches on the complexities of startup failures, discussing investor dynamics and the emotional toll on entrepreneurs, making for a riveting blend of environmental activism and startup insight.
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Founder's Funding Responsibility
- Founders are responsible for securing funding and pricing their companies.
- VCs advise and ensure proper governance, but are not obligated to fund indefinitely.
Startup End-of-Life
- Failing startups face three outcomes: M&A, shutdown, or "cockroach mode".
- "Cockroach mode" involves minimal operations, hoping for a turnaround.
Twitter's Near-Death Experience
- Ev Williams offered investors their money back before Twitter took off; most accepted, missing out on huge returns.
- This highlights the risk of giving up on seemingly failing startups too early.