Jason Fried

Jason Fried quotes on investment

Founder & CEO at Basecamp. Non-serial entrepreneur. Co-author of Getting Real, REWORK, Remote, and “It Doesn’t Have to Be Crazy at Work”.

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1

I’ve never met a deck that tells a better story than a well written page of text. Write it up, don’t deck it out.

2

I’ve never used the term “burn rate” in our business. Terrible phrase. They’re called “costs”. Beware fancy financial terms, they’re commonly used to create unhealthy abstractions. Further, you don’t burn money - you spend money, you pay rent, you invest in people, etc.

3

Whenever a company raises money *again* the first responsible question from the biz press should be: “WTF happened to the other money?”

4

Raising money is not news. Turning that money into something newsworthy is news.

5

Don’t call it a burn rate. Call it a spend rate. The money isn’t burning, it’s being spent. Burning suggests it’s a fire that’s roaring out of your control. “We’ve decided to spend $4MM/month on…” is coming to terms with your decisions.

6

Why do VC-backed companies seem to spend so much money? 1. They’re forced to. 2. The easiest money to spend is other people’s money.

7

When companies talk about burn rates, know two things are burning: Money & people. One you’re burning up, one you’re burning out.

8

When someone says “Think of all the things you could do if you raised a ton of money”, I instead think of all the things I couldn’t do. I value independence more than any check anyone could ever write me.

9

“Runway”, “Accelerator”, “Burn rate”… What’s with the obsession with BURNING in the startup world? How about earning instead?

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