Financial Planning for Startup Survival

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Discussing the importance of having 12 months of cash in the bank for a startup, the speaker highlights the necessity of calculating the amount of money required for survival without funding for six to nine months. The plan also includes allowing an additional three to four months to find a job if the startup idea doesn't take off. Successfully raising money in the first few months spared the speaker from burning through their savings, thanks to a series of fortunate events.

When the iPhone 4 was released in 2010, Manish Chandra was dazzled by its picture quality, and saw an opportunity for a new type of mobile marketplace. A year later, he and three co-founders launched Poshmark, a shopping app for second-hand clothes and accessories, meant to capture the feel of going thrifting with your friends. The online community grew quickly and vocally—when Poshmark raised shipping fees, users lobbied furiously to lower them, and won. The company faced many more growing pains before being acquired by the Naver Corporation for $1.2 billion in 2023. It now has over 100 million registered users around the world.

This episode was produced by Sam Paulson with music composed by Ramtin Arablouei.

It was edited by Neva Grant with research help from Katherine Sypher.

Our engineers were Robert Rodriguez and Josh Newell.

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