Andrew Wilkinson

Andrew Wilkinson quotes on venture capital

Co-founder of Tiny. Owners of Dribbble, MetaLab, and many others. Buying, starting and investing in wonderful internet businesses since 2007.

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1

I love how VCs criticize founders who derisk by giving themselves a market salary or taking secondary, yet none of them are willing to give up their 2% management fee.

2

We never had venture funding, or even access to bank debt, in the early days. Because of this, Chris and I were maniacal about keeping costs down. We'd negotiate EVERYTHING. Furniture. Credit card fees. Software. Leases. Coffee beans. Paper. You name it, we negotiated it.

3

Most companies aren’t venture scale and are ill suited to raise venture (can’t grow at 100%+ per year). Yet most people starting tech companies think they need to raise venture.

4

You should be nervous right now if your business: - Relies on a platform (FB/Google) - Relies on advertising revenue - Is burning money/venture backed - Has low gross margins or hasn’t figured out monetization

5

Venture: Roulette Private equity: Blackjack Bootstrapping: Poker

6

Way too many non-venture scale businesses raise venture and put themselves in a binary outcome: 1. Grow at all costs 2. Die trying You wouldn’t mortgage your house using credit cards. Why think of your business any differently? For most, it’s your entire net worth.

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