Letter to Myself in Late 2008

[I originally wrote and distributed this post to Y Combinator founders and have been encouraged to share it publicly, so here it is.]For context: in 2008 I was the founder/CEO of a company called imeem, which at the time had ~90 employees, good metrics, but high burn. I don’t think the 2020 crisis happening now…

Letter to Myself in Late 2008

[I originally wrote and distributed this post to Y Combinator founders and have been encouraged to share it publicly, so here it is.]For context: in 2008 I was the founder/CEO of a company called imeem, which at the time had ~90 employees, good metrics, but high burn. I don’t think the 2020 crisis happening now is the same as what happened in 2008. But maybe the advice I wish I would have listened to in 2008 can help someone today.Dear Dalton in 2008,Hi, it’s me, your future self in 2020. I remember exactly what it felt like to be you. You have a brand new baby at home and things are seeming crazy out in the world. This is a hard time for you… the sleep deprivation sure doesn’t help. The things you are hearing and seeing in the news seem almost unreal. But they are real. And it’s up to you to be a leader. Unfortunately I am writing you this letter because you are about to make a bunch of mistakes. The following is the truth you need to hear: You have a fair amount of cash in the bank. You were counting on a fundraise soon, and so it doesn’t feel like you have that much cash on hand. You are wrong. You have plenty of cash. Get this new reality into y
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