SlideShare a Scribd company logo
1 of 76
Download to read offline
Starting your Startup
Joe Stump, CTO & Cofounder of SimpleGeo
• Early employee at three startups ranging
  from bootstrapped to venture funded.
• Angel investor in three startups.
• Advisor to seven venture funded startups.
• Cofounder of two venture funded startups.
Itʼs lonely at the top.
Implementing vision
            takes time

Inception                 Your brain




      Funding v1.0
Startups are Trench Warfare
FOUNDING A
STARTUP IS REALLY
FUCKING HARD. NO
     JOKE.
“Don’t start a company unless
it’s an obsession and something
   you love. If you have an exit
 strategy, it’s not an obsession.”
             Mark Cuban
“Focus on the problem. If
you’re only excited about the
 solution, you’ll lose interest
when your solution doesn’t fix
        the problem. ”
        Adil Wali, CTO of ModCloth
FIND A MENTOR
WHO HAS FOUNDED
A STARTUP BEFORE.
Forming the Company
Choose your partner wisely
founder(s) (n): The person or people who
agree to quit their jobs after initially conceiving
and brainstorming an idea.
How many founders?

• Investors want to see more than one
  founder for redundancy reasons.
• More than three founders leads to dilution
  and control issues.
What to look for?
• Find people who have a similar work
  ethic as you.

• Find people with complimentary skill
  sets.

• Find people with a similar approach to
  product development as you.

• Find people with similar values.
BE WARY OF GIVING
    THE TITLE
 “COFOUNDER” TO
EARLY EMPLOYEES
You
Them
FIND PEOPLE
 ECONOMICALLY
ALIGNED WITH YOU.
Good




  A little friction is good.
Bad




  A lot of friction is bad.
SimpleGeo
✓ Matt Galligan is an established designer
  with expert knowledge of CSS, HTML,
  and branding.
✓ Joe Stump is an expert in building
  scalable web infrastructure, recruiting
  engineers, and programming processes.
๏ Both are extremely opinionated product
  people.
Slicing up the Pie
• All founders should be on a four year
  vesting schedule. One year cliff, 25%
  vested up front, monthly vesting after
  cliff.

• Set aside 15% for an employee option
  pool. Your investors will make you
  anyways.

• File your 83(b) election.
• First non-founding engineer should
  expect 1-3%

• Early engineering hires can expect
  0.5% to 1.5%

• Director level around 1%, VP level
  around 2-3%, CEOs between 6-9%
PLEASE FILE YOUR
  83(b) ELECTION
(PRETTY PLEASE).
48% of $1M is greater
  than 15% of $1M.
Hire a Lawyer
• Many law firms in the Bay Area will
  form the company on consignment.

• Investors in the Bay Area are used to
  dealing with a handful of lawyers.
  Speeds up process and saves
  money on closing.
Delaware C Corp
USING CHEAP
 LAWYERS IS AN
EXTREMELY DUMB
      IDEA.
Funding the Company
“Money is a renewable
resource. Time is not”
    Adil Wali, CTO of ModCloth
Starting your Startup
Bootstrap the Company
Venture funded company
Venture
                  Bootstrap
                              Backed
      Control        ✓

Fast to market                  ✓

No distractions                 ✓

   No dilution       ✓
pre-money valuation (n): 1. What
investors think your company is currently worth
sans investment. 2. Bullshit.
post-money valuation (n): 1. Company’s
pre-money valuation plus the dollar value
invested. 2. Bullshit. 3. Money in the bank.
dilution (n): 1. The action of making a liquid
more dilute. 2. The act of stock being
transferred from the people creating the
company to the investors with the money, thus
reducing the percentage of the company the
people creating the company own.
liquidation preferences (n): 1. The dollar
amount that a holder of preferred stock will
receive prior to holders of common stock. 2.
The act of investors covering their asses.
preferred stock (n): 1. Stock that entitles
the holder to a fixed dividend, whose payment
takes priority over that of common-stock
dividends. 2. The act of giving up all control over
your company.
convertible note (n): 1. A loan whose
value may be converted into common or
preferred stock. 2. Easiest, most founder friendly
form of capital on the market.
discount (n): 1. An investment discount
convertible note holders receive in subsequent
rounds. 2. If the Series A share price is $10.00/
share, and the convertible note holder has a
20% discount, they may buy at $8.00/share.
price cap (n): 1. A share price ceiling that
note holders enjoy in subsequent rounds of
financing. 2. If the convertible note’s price cap is
$5M, and a round is raised at $10M, the note
holder gets twice as much value.
priced round (n): 1. Financing the company
by selling a certain percentage for a mutually
agreed upon price at a mutually agreed upon
value of the company. 2. The most expensive,
investor friendly form of capital on the market.
3. Moment when your notes convert into
preferred stock according to their terms.
“Raise money when you can;
  not when you want to.”
A few gotchas

• Be wary of aggressive pro rate rights that
  allow investors to “buy up” in subsequent
  rounds.
• Be wary of board composition early on.
• Be wary of any one investor owning a
  majority of preferred stock.
Company Structure
• Preferred stockholders have all voting rights
  to change company charter.
• Common stockholders have no voting rights.
• Founders are at-will employees of the board.
• All transactions (fundraising & exits) must be
  approved by board and majority of preferred
  stockholders.
YOU CAN BE FIRED
 FROM YOUR OWN
    COMPANY.
“A 2x return in less than 18
months is uninteresting to us.”
LOLWTFBBQ?!
Moving the Needle
1. Invest $2m at a $4m pre-money valuation
   for 33% of the company.
2. Sell company for $12m in less than 12
   months.
3. PROFIT! $2m in profits from the sale.
4. On a $400m fund you’ve netted a 0.5%
   return for your fund’s LPs.
1. Look for investors who have founded and
   ran a startup before.
2. Look for investors with some of their own
   money in play.
3. Look for investors who understand the
   problem and are excited about your
   solution.
INVESTORS ARE
NOT YOUR FRIENDS.
Spending the Money
MONEY / EMPLOYEES = $12,000 – $15,000
74%
18%




  3%
       5%




            Rent     Infrastructure
            People   Other
Cloud
Physical Hardware
Physical
                Cloud
                        Hardware
Cost efficient              ✓

 On-demand       ✓
      Less to    ✓
     maintain
  Automated      ✓
Key Questions
•   Does your application have abnormal
    performance characteristics or density
    requirements?
•   How much time, money, effort, and
    management will go into building & maintaining
    multiple colocation facilities?
•   What is the opportunity cost to your product
    if you are fully staffing a network operations
    center?
“Want to increase
innovation? Lower the cost
        of failure.”
           Joi Ito
CLOUD VS.
    PHYSICAL
  HARDWARE IS A
BUSINESS DECISION.
Rails   Django   Code Igniter

Prototyping    ✓        ✓           ✓

     ORM       ✓        ✓           ✓

      MVC      ✓        ✓           ✓

Community      ✓        ✓           ✓

   Scalable    ✓        ✓           ✓
LANGUAGES DO NOT
      SCALE.
ARCHITECTURES DO.
RDBMS   NoSQL

Well known        ✓

  Ecosystem       ✓

Linear scaling            ✓

Multi-master              ✓

     Scalable     ✓       ✓
“As far as technology, go
 with what you know.”
         Mark Cuban
THE TECHNOLOGY
STACK YOU CHOOSE
       IS AN
 IMPLEMENTATION
      DETAIL.
Creating the Product
“The best products in
the world start out as
      features.”
  Kevin Systrom, CEO of Instagram
“If you’re not embarrassed
 when you ship your first
  version you waited too
           long..”
 Matt Mullenweg, CEO & Founder of WordPress
BE MILITANT IN
YOUR MINIMALLY
VIABLE PRODUCT
     (MVP).
Approaching Product
1. Focus on a single use case that addresses
   the problem.
2. Start with a minimal core set of features.
3. Release and listen to your users.
4. Question your initial assumptions based on
   feedback.
5. Rinse and repeat.
Product / Market Fit




             Enjoy the Ride
@joestump

More Related Content

What's hot

EIA2019Italy - Funding & Fundraising Options - Dario Peirone
EIA2019Italy - Funding & Fundraising Options - Dario PeironeEIA2019Italy - Funding & Fundraising Options - Dario Peirone
EIA2019Italy - Funding & Fundraising Options - Dario PeironeEuropean Innovation Academy
 
Venture talk at duke dogpatch labs juen 13 2012
Venture talk at duke dogpatch labs juen 13 2012Venture talk at duke dogpatch labs juen 13 2012
Venture talk at duke dogpatch labs juen 13 2012Jay Jamison
 
A ready to use Template for pitching your Business for funding! See updated v...
A ready to use Template for pitching your Business for funding! See updated v...A ready to use Template for pitching your Business for funding! See updated v...
A ready to use Template for pitching your Business for funding! See updated v...Alok Rodinhood Kejriwal
 
How to make an investor pitch deck that really works
How to make an investor pitch deck that really worksHow to make an investor pitch deck that really works
How to make an investor pitch deck that really worksDeck Rooster
 
The 10 Biggest Questions We Received From Tech Startups - NextView Ventures
The 10 Biggest Questions We Received From Tech Startups - NextView VenturesThe 10 Biggest Questions We Received From Tech Startups - NextView Ventures
The 10 Biggest Questions We Received From Tech Startups - NextView VenturesNextView Ventures
 
EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...
EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...
EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...European Innovation Academy
 
EIA2019HK - Problem-Solution Fit - Mike Kyriacou
EIA2019HK - Problem-Solution Fit - Mike KyriacouEIA2019HK - Problem-Solution Fit - Mike Kyriacou
EIA2019HK - Problem-Solution Fit - Mike KyriacouEuropean Innovation Academy
 
Floodgate vc fundraising primer ppt
Floodgate vc fundraising primer pptFloodgate vc fundraising primer ppt
Floodgate vc fundraising primer pptMike Maples, Jr
 
EIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenamin
EIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenaminEIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenamin
EIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenaminEuropean Innovation Academy
 
Kellogg VC CEO Summit
Kellogg VC CEO SummitKellogg VC CEO Summit
Kellogg VC CEO SummitDave Kellogg
 
How to choose an idea for your startup Dalton Caldwell Y Combinator
How to choose an idea for your startup  Dalton Caldwell Y CombinatorHow to choose an idea for your startup  Dalton Caldwell Y Combinator
How to choose an idea for your startup Dalton Caldwell Y CombinatorWebrazzi
 
Preseed pitch deck template
Preseed pitch deck templatePreseed pitch deck template
Preseed pitch deck templateKirby Winfield
 
NextView's Pitch To Founders
NextView's Pitch To FoundersNextView's Pitch To Founders
NextView's Pitch To FoundersNextView Ventures
 
Vision, hypotheses and customer discovery
Vision, hypotheses and customer discoveryVision, hypotheses and customer discovery
Vision, hypotheses and customer discoveryBlaz Kos
 
Pitching Hacks Preview
Pitching Hacks PreviewPitching Hacks Preview
Pitching Hacks PreviewVenture Hacks
 
Board Deck Templates for Startups
Board Deck Templates for StartupsBoard Deck Templates for Startups
Board Deck Templates for StartupsNextView Ventures
 
EIA2019Portugal - Product - Market Fit - Elijah Murray
EIA2019Portugal - Product - Market Fit - Elijah MurrayEIA2019Portugal - Product - Market Fit - Elijah Murray
EIA2019Portugal - Product - Market Fit - Elijah MurrayEuropean Innovation Academy
 

What's hot (20)

EIA2019Italy - Funding & Fundraising Options - Dario Peirone
EIA2019Italy - Funding & Fundraising Options - Dario PeironeEIA2019Italy - Funding & Fundraising Options - Dario Peirone
EIA2019Italy - Funding & Fundraising Options - Dario Peirone
 
Venture talk at duke dogpatch labs juen 13 2012
Venture talk at duke dogpatch labs juen 13 2012Venture talk at duke dogpatch labs juen 13 2012
Venture talk at duke dogpatch labs juen 13 2012
 
A ready to use Template for pitching your Business for funding! See updated v...
A ready to use Template for pitching your Business for funding! See updated v...A ready to use Template for pitching your Business for funding! See updated v...
A ready to use Template for pitching your Business for funding! See updated v...
 
How to make an investor pitch deck that really works
How to make an investor pitch deck that really worksHow to make an investor pitch deck that really works
How to make an investor pitch deck that really works
 
The 10 Biggest Questions We Received From Tech Startups - NextView Ventures
The 10 Biggest Questions We Received From Tech Startups - NextView VenturesThe 10 Biggest Questions We Received From Tech Startups - NextView Ventures
The 10 Biggest Questions We Received From Tech Startups - NextView Ventures
 
EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...
EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...
EIA2017Italy - Mike Lawless - VDD (Value Differentiation Durability) Test for...
 
EIA2019HK - Problem-Solution Fit - Mike Kyriacou
EIA2019HK - Problem-Solution Fit - Mike KyriacouEIA2019HK - Problem-Solution Fit - Mike Kyriacou
EIA2019HK - Problem-Solution Fit - Mike Kyriacou
 
Floodgate vc fundraising primer ppt
Floodgate vc fundraising primer pptFloodgate vc fundraising primer ppt
Floodgate vc fundraising primer ppt
 
EIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenamin
EIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenaminEIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenamin
EIA2019Portugal - Growth Mindset to Growth Hacking - Krissie McMenamin
 
EIA2016 Turin - Catherine Moonan. Pitching
EIA2016 Turin - Catherine Moonan. PitchingEIA2016 Turin - Catherine Moonan. Pitching
EIA2016 Turin - Catherine Moonan. Pitching
 
Kellogg VC CEO Summit
Kellogg VC CEO SummitKellogg VC CEO Summit
Kellogg VC CEO Summit
 
How to choose an idea for your startup Dalton Caldwell Y Combinator
How to choose an idea for your startup  Dalton Caldwell Y CombinatorHow to choose an idea for your startup  Dalton Caldwell Y Combinator
How to choose an idea for your startup Dalton Caldwell Y Combinator
 
Preseed pitch deck template
Preseed pitch deck templatePreseed pitch deck template
Preseed pitch deck template
 
EIA2019Italy - Product-Market Fit - Jeff Abbott
EIA2019Italy - Product-Market Fit - Jeff AbbottEIA2019Italy - Product-Market Fit - Jeff Abbott
EIA2019Italy - Product-Market Fit - Jeff Abbott
 
NextView's Pitch To Founders
NextView's Pitch To FoundersNextView's Pitch To Founders
NextView's Pitch To Founders
 
Vision, hypotheses and customer discovery
Vision, hypotheses and customer discoveryVision, hypotheses and customer discovery
Vision, hypotheses and customer discovery
 
Pitching Hacks Preview
Pitching Hacks PreviewPitching Hacks Preview
Pitching Hacks Preview
 
Board Deck Templates for Startups
Board Deck Templates for StartupsBoard Deck Templates for Startups
Board Deck Templates for Startups
 
EIA2016 Turin - Alberto Giusti. Crowdfunding
EIA2016 Turin - Alberto Giusti.  CrowdfundingEIA2016 Turin - Alberto Giusti.  Crowdfunding
EIA2016 Turin - Alberto Giusti. Crowdfunding
 
EIA2019Portugal - Product - Market Fit - Elijah Murray
EIA2019Portugal - Product - Market Fit - Elijah MurrayEIA2019Portugal - Product - Market Fit - Elijah Murray
EIA2019Portugal - Product - Market Fit - Elijah Murray
 

Viewers also liked

The future of incubation - presented @EBN TECH CAMP 05-12-2013
The future of incubation - presented @EBN TECH CAMP 05-12-2013The future of incubation - presented @EBN TECH CAMP 05-12-2013
The future of incubation - presented @EBN TECH CAMP 05-12-2013Pim de Bokx
 
Business Model Knowledge Fair, Amsterdam
Business Model Knowledge Fair, AmsterdamBusiness Model Knowledge Fair, Amsterdam
Business Model Knowledge Fair, AmsterdamAlexander Osterwalder
 
Blueprint for Startup Success
Blueprint for Startup SuccessBlueprint for Startup Success
Blueprint for Startup SuccessMarc Nathan
 
Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...
Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...
Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...Alex Cowan
 
Silicon Valley: VCs, startups and venture spirit
Silicon Valley: VCs, startups and venture spiritSilicon Valley: VCs, startups and venture spirit
Silicon Valley: VCs, startups and venture spiritAllan Martinson
 
Small Business Start Up Success Kit Preview
Small Business Start Up Success Kit PreviewSmall Business Start Up Success Kit Preview
Small Business Start Up Success Kit PreviewDon Osborne
 
Why creating a start-up makes sense? TAIEX Moldova - June 2013
Why creating a start-up makes sense? TAIEX Moldova - June 2013Why creating a start-up makes sense? TAIEX Moldova - June 2013
Why creating a start-up makes sense? TAIEX Moldova - June 2013Pim de Bokx
 
Effective Marketing for the Public Practitioner - Presentation by Michael Ca...
Effective Marketing for the Public Practitioner  - Presentation by Michael Ca...Effective Marketing for the Public Practitioner  - Presentation by Michael Ca...
Effective Marketing for the Public Practitioner - Presentation by Michael Ca...Practice Paradox
 
Presentation Global Innovation Forum London Nov 2014
Presentation Global Innovation Forum London Nov 2014Presentation Global Innovation Forum London Nov 2014
Presentation Global Innovation Forum London Nov 2014Business Models Inc.
 
Day in-the-life-for-bob-the-baby-boomer
Day in-the-life-for-bob-the-baby-boomerDay in-the-life-for-bob-the-baby-boomer
Day in-the-life-for-bob-the-baby-boomerAlex Cowan
 
Encouraging knowledge transfer - TAIEX Moldova - June 2013
Encouraging knowledge transfer - TAIEX Moldova - June 2013Encouraging knowledge transfer - TAIEX Moldova - June 2013
Encouraging knowledge transfer - TAIEX Moldova - June 2013Pim de Bokx
 
Business Model Example Series : Issue 2 / iPod
Business Model Example Series : Issue 2 / iPodBusiness Model Example Series : Issue 2 / iPod
Business Model Example Series : Issue 2 / iPodAlexander Osterwalder
 
Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...
Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...
Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...Pim de Bokx
 
6 startup lessons learned
6 startup lessons learned 6 startup lessons learned
6 startup lessons learned Allan Martinson
 
Effective Marketing for the Public Practitioner - Presentation by Michael 'M...
Effective Marketing for the Public Practitioner  - Presentation by Michael 'M...Effective Marketing for the Public Practitioner  - Presentation by Michael 'M...
Effective Marketing for the Public Practitioner - Presentation by Michael 'M...Practice Paradox
 
Follow the content
Follow the contentFollow the content
Follow the contentDataSift
 
Business Models and Access to Funds at Top Incubators
Business Models and Access to Funds at Top IncubatorsBusiness Models and Access to Funds at Top Incubators
Business Models and Access to Funds at Top IncubatorsPim de Bokx
 
Marketers, Rev Your Engines: Facebook Topic Data is Available Now
Marketers, Rev Your Engines: Facebook Topic Data is Available Now Marketers, Rev Your Engines: Facebook Topic Data is Available Now
Marketers, Rev Your Engines: Facebook Topic Data is Available Now DataSift
 

Viewers also liked (20)

The future of incubation - presented @EBN TECH CAMP 05-12-2013
The future of incubation - presented @EBN TECH CAMP 05-12-2013The future of incubation - presented @EBN TECH CAMP 05-12-2013
The future of incubation - presented @EBN TECH CAMP 05-12-2013
 
Business Model Knowledge Fair, Amsterdam
Business Model Knowledge Fair, AmsterdamBusiness Model Knowledge Fair, Amsterdam
Business Model Knowledge Fair, Amsterdam
 
Blueprint for Startup Success
Blueprint for Startup SuccessBlueprint for Startup Success
Blueprint for Startup Success
 
Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...
Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...
Software Design Class (Session 6): Mapping the Coast- Creating Quality Develo...
 
Silicon Valley: VCs, startups and venture spirit
Silicon Valley: VCs, startups and venture spiritSilicon Valley: VCs, startups and venture spirit
Silicon Valley: VCs, startups and venture spirit
 
Great Value Proposition Design
Great Value Proposition DesignGreat Value Proposition Design
Great Value Proposition Design
 
Small Business Start Up Success Kit Preview
Small Business Start Up Success Kit PreviewSmall Business Start Up Success Kit Preview
Small Business Start Up Success Kit Preview
 
Why creating a start-up makes sense? TAIEX Moldova - June 2013
Why creating a start-up makes sense? TAIEX Moldova - June 2013Why creating a start-up makes sense? TAIEX Moldova - June 2013
Why creating a start-up makes sense? TAIEX Moldova - June 2013
 
Effective Marketing for the Public Practitioner - Presentation by Michael Ca...
Effective Marketing for the Public Practitioner  - Presentation by Michael Ca...Effective Marketing for the Public Practitioner  - Presentation by Michael Ca...
Effective Marketing for the Public Practitioner - Presentation by Michael Ca...
 
Presentation Global Innovation Forum London Nov 2014
Presentation Global Innovation Forum London Nov 2014Presentation Global Innovation Forum London Nov 2014
Presentation Global Innovation Forum London Nov 2014
 
Day in-the-life-for-bob-the-baby-boomer
Day in-the-life-for-bob-the-baby-boomerDay in-the-life-for-bob-the-baby-boomer
Day in-the-life-for-bob-the-baby-boomer
 
ANAHIT Initiative
ANAHIT InitiativeANAHIT Initiative
ANAHIT Initiative
 
Encouraging knowledge transfer - TAIEX Moldova - June 2013
Encouraging knowledge transfer - TAIEX Moldova - June 2013Encouraging knowledge transfer - TAIEX Moldova - June 2013
Encouraging knowledge transfer - TAIEX Moldova - June 2013
 
Business Model Example Series : Issue 2 / iPod
Business Model Example Series : Issue 2 / iPodBusiness Model Example Series : Issue 2 / iPod
Business Model Example Series : Issue 2 / iPod
 
Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...
Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...
Nederland Incubatieland 28-10-2014: Pleidooi voor intensievere samenwerking C...
 
6 startup lessons learned
6 startup lessons learned 6 startup lessons learned
6 startup lessons learned
 
Effective Marketing for the Public Practitioner - Presentation by Michael 'M...
Effective Marketing for the Public Practitioner  - Presentation by Michael 'M...Effective Marketing for the Public Practitioner  - Presentation by Michael 'M...
Effective Marketing for the Public Practitioner - Presentation by Michael 'M...
 
Follow the content
Follow the contentFollow the content
Follow the content
 
Business Models and Access to Funds at Top Incubators
Business Models and Access to Funds at Top IncubatorsBusiness Models and Access to Funds at Top Incubators
Business Models and Access to Funds at Top Incubators
 
Marketers, Rev Your Engines: Facebook Topic Data is Available Now
Marketers, Rev Your Engines: Facebook Topic Data is Available Now Marketers, Rev Your Engines: Facebook Topic Data is Available Now
Marketers, Rev Your Engines: Facebook Topic Data is Available Now
 

Similar to Starting your Startup

Now is the best time to start a company… Now what?
Now is the best time to start a company… Now what?Now is the best time to start a company… Now what?
Now is the best time to start a company… Now what?Brian Kelly
 
Entrepreneur boot camp starting a business - november 1 2012 - dave litwiller
Entrepreneur boot camp   starting a business - november 1 2012 - dave litwillerEntrepreneur boot camp   starting a business - november 1 2012 - dave litwiller
Entrepreneur boot camp starting a business - november 1 2012 - dave litwillerDave Litwiller
 
Four Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich MironovFour Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich MironovProductCampPortland
 
Lean startupworkshop
Lean startupworkshopLean startupworkshop
Lean startupworkshopPedro Santos
 
Rich Mironov - Product Management Auckland Talk Slides
Rich Mironov - Product Management Auckland Talk SlidesRich Mironov - Product Management Auckland Talk Slides
Rich Mironov - Product Management Auckland Talk SlidesAnthony Marter
 
Non traditional product financing
Non traditional product financingNon traditional product financing
Non traditional product financingTom4820
 
2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...
2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...
2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...Keith Goode
 
2010 10 19 the lean startup workshop for i_gap ireland
2010 10 19 the lean startup workshop for i_gap ireland2010 10 19 the lean startup workshop for i_gap ireland
2010 10 19 the lean startup workshop for i_gap irelandEric Ries
 
How to scale your Startup
How to scale your Startup How to scale your Startup
How to scale your Startup Asif Ali
 
2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute
2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute
2010 04 28 The Lean Startup webinar for the Lean Enterprise InstituteEric Ries
 
2010 03 09 the lean startup - gdc
2010 03 09 the lean startup - gdc2010 03 09 the lean startup - gdc
2010 03 09 the lean startup - gdcEric Ries
 
TechMoney: Prepping for Diligence The Technical Side of Raising Capital
TechMoney: Prepping for Diligence The Technical Side of Raising CapitalTechMoney: Prepping for Diligence The Technical Side of Raising Capital
TechMoney: Prepping for Diligence The Technical Side of Raising CapitalCachette Capital Management
 
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...The incumbent’s playbook for launching a vertical SaaS product (Directions EM...
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...Martin Karlowitsch
 
Startup Terms, A Breakdown For Everyone
Startup Terms, A Breakdown For EveryoneStartup Terms, A Breakdown For Everyone
Startup Terms, A Breakdown For EveryoneLuke Fitzpatrick
 
Ericriesleanstartuppresentationforweb2
Ericriesleanstartuppresentationforweb2Ericriesleanstartuppresentationforweb2
Ericriesleanstartuppresentationforweb2Edmund FOng
 

Similar to Starting your Startup (20)

Now is the best time to start a company… Now what?
Now is the best time to start a company… Now what?Now is the best time to start a company… Now what?
Now is the best time to start a company… Now what?
 
Entrepreneur boot camp starting a business - november 1 2012 - dave litwiller
Entrepreneur boot camp   starting a business - november 1 2012 - dave litwillerEntrepreneur boot camp   starting a business - november 1 2012 - dave litwiller
Entrepreneur boot camp starting a business - november 1 2012 - dave litwiller
 
Four Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich MironovFour Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich Mironov
 
Lean startupworkshop
Lean startupworkshopLean startupworkshop
Lean startupworkshop
 
Rich Mironov - Product Management Auckland Talk Slides
Rich Mironov - Product Management Auckland Talk SlidesRich Mironov - Product Management Auckland Talk Slides
Rich Mironov - Product Management Auckland Talk Slides
 
Non traditional product financing
Non traditional product financingNon traditional product financing
Non traditional product financing
 
2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...
2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...
2023-Pubcon Pro Austin - Navigating Egos Red Tape and Conflicting Priorities ...
 
DevOps Year One
DevOps Year OneDevOps Year One
DevOps Year One
 
The Startup Lifecycle (Presented by CEI and friends)
The Startup Lifecycle (Presented by CEI and friends)The Startup Lifecycle (Presented by CEI and friends)
The Startup Lifecycle (Presented by CEI and friends)
 
2010 10 19 the lean startup workshop for i_gap ireland
2010 10 19 the lean startup workshop for i_gap ireland2010 10 19 the lean startup workshop for i_gap ireland
2010 10 19 the lean startup workshop for i_gap ireland
 
Lean startup
Lean startup Lean startup
Lean startup
 
How to scale your Startup
How to scale your Startup How to scale your Startup
How to scale your Startup
 
2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute
2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute
2010 04 28 The Lean Startup webinar for the Lean Enterprise Institute
 
2010 03 09 the lean startup - gdc
2010 03 09 the lean startup - gdc2010 03 09 the lean startup - gdc
2010 03 09 the lean startup - gdc
 
TechMoney: Prepping for Diligence The Technical Side of Raising Capital
TechMoney: Prepping for Diligence The Technical Side of Raising CapitalTechMoney: Prepping for Diligence The Technical Side of Raising Capital
TechMoney: Prepping for Diligence The Technical Side of Raising Capital
 
Foresight Ventures
Foresight VenturesForesight Ventures
Foresight Ventures
 
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...The incumbent’s playbook for launching a vertical SaaS product (Directions EM...
The incumbent’s playbook for launching a vertical SaaS product (Directions EM...
 
Startup Terms, A Breakdown For Everyone
Startup Terms, A Breakdown For EveryoneStartup Terms, A Breakdown For Everyone
Startup Terms, A Breakdown For Everyone
 
Pitching in Silicon Valley
Pitching in Silicon ValleyPitching in Silicon Valley
Pitching in Silicon Valley
 
Ericriesleanstartuppresentationforweb2
Ericriesleanstartuppresentationforweb2Ericriesleanstartuppresentationforweb2
Ericriesleanstartuppresentationforweb2
 

Recently uploaded

Empowering Africa's Next Generation: The AI Leadership Blueprint
Empowering Africa's Next Generation: The AI Leadership BlueprintEmpowering Africa's Next Generation: The AI Leadership Blueprint
Empowering Africa's Next Generation: The AI Leadership BlueprintMahmoud Rabie
 
Computer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and HazardsComputer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and HazardsSeth Reyes
 
Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024D Cloud Solutions
 
COMPUTER 10: Lesson 7 - File Storage and Online Collaboration
COMPUTER 10: Lesson 7 - File Storage and Online CollaborationCOMPUTER 10: Lesson 7 - File Storage and Online Collaboration
COMPUTER 10: Lesson 7 - File Storage and Online Collaborationbruanjhuli
 
UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8DianaGray10
 
UiPath Studio Web workshop series - Day 7
UiPath Studio Web workshop series - Day 7UiPath Studio Web workshop series - Day 7
UiPath Studio Web workshop series - Day 7DianaGray10
 
Igniting Next Level Productivity with AI-Infused Data Integration Workflows
Igniting Next Level Productivity with AI-Infused Data Integration WorkflowsIgniting Next Level Productivity with AI-Infused Data Integration Workflows
Igniting Next Level Productivity with AI-Infused Data Integration WorkflowsSafe Software
 
The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...
The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...
The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...Aggregage
 
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve DecarbonizationUsing IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve DecarbonizationIES VE
 
Nanopower In Semiconductor Industry.pdf
Nanopower  In Semiconductor Industry.pdfNanopower  In Semiconductor Industry.pdf
Nanopower In Semiconductor Industry.pdfPedro Manuel
 
UiPath Community: AI for UiPath Automation Developers
UiPath Community: AI for UiPath Automation DevelopersUiPath Community: AI for UiPath Automation Developers
UiPath Community: AI for UiPath Automation DevelopersUiPathCommunity
 
20230202 - Introduction to tis-py
20230202 - Introduction to tis-py20230202 - Introduction to tis-py
20230202 - Introduction to tis-pyJamie (Taka) Wang
 
IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019
IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019
IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019IES VE
 
VoIP Service and Marketing using Odoo and Asterisk PBX
VoIP Service and Marketing using Odoo and Asterisk PBXVoIP Service and Marketing using Odoo and Asterisk PBX
VoIP Service and Marketing using Odoo and Asterisk PBXTarek Kalaji
 
UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"
UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"
UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"DianaGray10
 
UiPath Studio Web workshop series - Day 5
UiPath Studio Web workshop series - Day 5UiPath Studio Web workshop series - Day 5
UiPath Studio Web workshop series - Day 5DianaGray10
 
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCostKubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCostMatt Ray
 
Videogame localization & technology_ how to enhance the power of translation.pdf
Videogame localization & technology_ how to enhance the power of translation.pdfVideogame localization & technology_ how to enhance the power of translation.pdf
Videogame localization & technology_ how to enhance the power of translation.pdfinfogdgmi
 
activity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdf
activity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdf
activity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdfJamie (Taka) Wang
 
Anypoint Code Builder , Google Pub sub connector and MuleSoft RPA
Anypoint Code Builder , Google Pub sub connector and MuleSoft RPAAnypoint Code Builder , Google Pub sub connector and MuleSoft RPA
Anypoint Code Builder , Google Pub sub connector and MuleSoft RPAshyamraj55
 

Recently uploaded (20)

Empowering Africa's Next Generation: The AI Leadership Blueprint
Empowering Africa's Next Generation: The AI Leadership BlueprintEmpowering Africa's Next Generation: The AI Leadership Blueprint
Empowering Africa's Next Generation: The AI Leadership Blueprint
 
Computer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and HazardsComputer 10: Lesson 10 - Online Crimes and Hazards
Computer 10: Lesson 10 - Online Crimes and Hazards
 
Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024Artificial Intelligence & SEO Trends for 2024
Artificial Intelligence & SEO Trends for 2024
 
COMPUTER 10: Lesson 7 - File Storage and Online Collaboration
COMPUTER 10: Lesson 7 - File Storage and Online CollaborationCOMPUTER 10: Lesson 7 - File Storage and Online Collaboration
COMPUTER 10: Lesson 7 - File Storage and Online Collaboration
 
UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8UiPath Studio Web workshop series - Day 8
UiPath Studio Web workshop series - Day 8
 
UiPath Studio Web workshop series - Day 7
UiPath Studio Web workshop series - Day 7UiPath Studio Web workshop series - Day 7
UiPath Studio Web workshop series - Day 7
 
Igniting Next Level Productivity with AI-Infused Data Integration Workflows
Igniting Next Level Productivity with AI-Infused Data Integration WorkflowsIgniting Next Level Productivity with AI-Infused Data Integration Workflows
Igniting Next Level Productivity with AI-Infused Data Integration Workflows
 
The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...
The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...
The Data Metaverse: Unpacking the Roles, Use Cases, and Tech Trends in Data a...
 
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve DecarbonizationUsing IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
Using IESVE for Loads, Sizing and Heat Pump Modeling to Achieve Decarbonization
 
Nanopower In Semiconductor Industry.pdf
Nanopower  In Semiconductor Industry.pdfNanopower  In Semiconductor Industry.pdf
Nanopower In Semiconductor Industry.pdf
 
UiPath Community: AI for UiPath Automation Developers
UiPath Community: AI for UiPath Automation DevelopersUiPath Community: AI for UiPath Automation Developers
UiPath Community: AI for UiPath Automation Developers
 
20230202 - Introduction to tis-py
20230202 - Introduction to tis-py20230202 - Introduction to tis-py
20230202 - Introduction to tis-py
 
IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019
IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019
IESVE Software for Florida Code Compliance Using ASHRAE 90.1-2019
 
VoIP Service and Marketing using Odoo and Asterisk PBX
VoIP Service and Marketing using Odoo and Asterisk PBXVoIP Service and Marketing using Odoo and Asterisk PBX
VoIP Service and Marketing using Odoo and Asterisk PBX
 
UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"
UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"
UiPath Clipboard AI: "A TIME Magazine Best Invention of 2023 Unveiled"
 
UiPath Studio Web workshop series - Day 5
UiPath Studio Web workshop series - Day 5UiPath Studio Web workshop series - Day 5
UiPath Studio Web workshop series - Day 5
 
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCostKubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
KubeConEU24-Monitoring Kubernetes and Cloud Spend with OpenCost
 
Videogame localization & technology_ how to enhance the power of translation.pdf
Videogame localization & technology_ how to enhance the power of translation.pdfVideogame localization & technology_ how to enhance the power of translation.pdf
Videogame localization & technology_ how to enhance the power of translation.pdf
 
activity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdf
activity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdf
activity_diagram_combine_v4_20190827.pdfactivity_diagram_combine_v4_20190827.pdf
 
Anypoint Code Builder , Google Pub sub connector and MuleSoft RPA
Anypoint Code Builder , Google Pub sub connector and MuleSoft RPAAnypoint Code Builder , Google Pub sub connector and MuleSoft RPA
Anypoint Code Builder , Google Pub sub connector and MuleSoft RPA
 

Starting your Startup

  • 1. Starting your Startup Joe Stump, CTO & Cofounder of SimpleGeo
  • 2. • Early employee at three startups ranging from bootstrapped to venture funded. • Angel investor in three startups. • Advisor to seven venture funded startups. • Cofounder of two venture funded startups.
  • 3. Itʼs lonely at the top.
  • 4. Implementing vision takes time Inception Your brain Funding v1.0
  • 6. FOUNDING A STARTUP IS REALLY FUCKING HARD. NO JOKE.
  • 7. “Don’t start a company unless it’s an obsession and something you love. If you have an exit strategy, it’s not an obsession.” Mark Cuban
  • 8. “Focus on the problem. If you’re only excited about the solution, you’ll lose interest when your solution doesn’t fix the problem. ” Adil Wali, CTO of ModCloth
  • 9. FIND A MENTOR WHO HAS FOUNDED A STARTUP BEFORE.
  • 12. founder(s) (n): The person or people who agree to quit their jobs after initially conceiving and brainstorming an idea.
  • 13. How many founders? • Investors want to see more than one founder for redundancy reasons. • More than three founders leads to dilution and control issues.
  • 14. What to look for? • Find people who have a similar work ethic as you. • Find people with complimentary skill sets. • Find people with a similar approach to product development as you. • Find people with similar values.
  • 15. BE WARY OF GIVING THE TITLE “COFOUNDER” TO EARLY EMPLOYEES
  • 16. You
  • 17. Them
  • 19. Good A little friction is good.
  • 20. Bad A lot of friction is bad.
  • 21. SimpleGeo ✓ Matt Galligan is an established designer with expert knowledge of CSS, HTML, and branding. ✓ Joe Stump is an expert in building scalable web infrastructure, recruiting engineers, and programming processes. ๏ Both are extremely opinionated product people.
  • 23. • All founders should be on a four year vesting schedule. One year cliff, 25% vested up front, monthly vesting after cliff. • Set aside 15% for an employee option pool. Your investors will make you anyways. • File your 83(b) election.
  • 24. • First non-founding engineer should expect 1-3% • Early engineering hires can expect 0.5% to 1.5% • Director level around 1%, VP level around 2-3%, CEOs between 6-9%
  • 25. PLEASE FILE YOUR 83(b) ELECTION (PRETTY PLEASE).
  • 26. 48% of $1M is greater than 15% of $1M.
  • 28. • Many law firms in the Bay Area will form the company on consignment. • Investors in the Bay Area are used to dealing with a handful of lawyers. Speeds up process and saves money on closing.
  • 30. USING CHEAP LAWYERS IS AN EXTREMELY DUMB IDEA.
  • 32. “Money is a renewable resource. Time is not” Adil Wali, CTO of ModCloth
  • 36. Venture Bootstrap Backed Control ✓ Fast to market ✓ No distractions ✓ No dilution ✓
  • 37. pre-money valuation (n): 1. What investors think your company is currently worth sans investment. 2. Bullshit.
  • 38. post-money valuation (n): 1. Company’s pre-money valuation plus the dollar value invested. 2. Bullshit. 3. Money in the bank.
  • 39. dilution (n): 1. The action of making a liquid more dilute. 2. The act of stock being transferred from the people creating the company to the investors with the money, thus reducing the percentage of the company the people creating the company own.
  • 40. liquidation preferences (n): 1. The dollar amount that a holder of preferred stock will receive prior to holders of common stock. 2. The act of investors covering their asses.
  • 41. preferred stock (n): 1. Stock that entitles the holder to a fixed dividend, whose payment takes priority over that of common-stock dividends. 2. The act of giving up all control over your company.
  • 42. convertible note (n): 1. A loan whose value may be converted into common or preferred stock. 2. Easiest, most founder friendly form of capital on the market.
  • 43. discount (n): 1. An investment discount convertible note holders receive in subsequent rounds. 2. If the Series A share price is $10.00/ share, and the convertible note holder has a 20% discount, they may buy at $8.00/share.
  • 44. price cap (n): 1. A share price ceiling that note holders enjoy in subsequent rounds of financing. 2. If the convertible note’s price cap is $5M, and a round is raised at $10M, the note holder gets twice as much value.
  • 45. priced round (n): 1. Financing the company by selling a certain percentage for a mutually agreed upon price at a mutually agreed upon value of the company. 2. The most expensive, investor friendly form of capital on the market. 3. Moment when your notes convert into preferred stock according to their terms.
  • 46. “Raise money when you can; not when you want to.”
  • 47. A few gotchas • Be wary of aggressive pro rate rights that allow investors to “buy up” in subsequent rounds. • Be wary of board composition early on. • Be wary of any one investor owning a majority of preferred stock.
  • 48. Company Structure • Preferred stockholders have all voting rights to change company charter. • Common stockholders have no voting rights. • Founders are at-will employees of the board. • All transactions (fundraising & exits) must be approved by board and majority of preferred stockholders.
  • 49. YOU CAN BE FIRED FROM YOUR OWN COMPANY.
  • 50. “A 2x return in less than 18 months is uninteresting to us.”
  • 53. 1. Invest $2m at a $4m pre-money valuation for 33% of the company. 2. Sell company for $12m in less than 12 months. 3. PROFIT! $2m in profits from the sale. 4. On a $400m fund you’ve netted a 0.5% return for your fund’s LPs.
  • 54. 1. Look for investors who have founded and ran a startup before. 2. Look for investors with some of their own money in play. 3. Look for investors who understand the problem and are excited about your solution.
  • 57. MONEY / EMPLOYEES = $12,000 – $15,000
  • 58. 74% 18% 3% 5% Rent Infrastructure People Other
  • 59. Cloud
  • 61. Physical Cloud Hardware Cost efficient ✓ On-demand ✓ Less to ✓ maintain Automated ✓
  • 62. Key Questions • Does your application have abnormal performance characteristics or density requirements? • How much time, money, effort, and management will go into building & maintaining multiple colocation facilities? • What is the opportunity cost to your product if you are fully staffing a network operations center?
  • 63. “Want to increase innovation? Lower the cost of failure.” Joi Ito
  • 64. CLOUD VS. PHYSICAL HARDWARE IS A BUSINESS DECISION.
  • 65. Rails Django Code Igniter Prototyping ✓ ✓ ✓ ORM ✓ ✓ ✓ MVC ✓ ✓ ✓ Community ✓ ✓ ✓ Scalable ✓ ✓ ✓
  • 66. LANGUAGES DO NOT SCALE. ARCHITECTURES DO.
  • 67. RDBMS NoSQL Well known ✓ Ecosystem ✓ Linear scaling ✓ Multi-master ✓ Scalable ✓ ✓
  • 68. “As far as technology, go with what you know.” Mark Cuban
  • 69. THE TECHNOLOGY STACK YOU CHOOSE IS AN IMPLEMENTATION DETAIL.
  • 71. “The best products in the world start out as features.” Kevin Systrom, CEO of Instagram
  • 72. “If you’re not embarrassed when you ship your first version you waited too long..” Matt Mullenweg, CEO & Founder of WordPress
  • 73. BE MILITANT IN YOUR MINIMALLY VIABLE PRODUCT (MVP).
  • 74. Approaching Product 1. Focus on a single use case that addresses the problem. 2. Start with a minimal core set of features. 3. Release and listen to your users. 4. Question your initial assumptions based on feedback. 5. Rinse and repeat.
  • 75. Product / Market Fit Enjoy the Ride