It’s more than simply astonishing, it’s mind-blowingly bonkers how much money they have to burn to see ANY amount of return
See, that’s the trick, and it’s used by LOADS of startups:
You don’t actually have to see a return… You just have to have a good story showing there MAY be a GIANT return. The founders collect enormous salaries (Funded by VC dollars, not their own), they burn through the money to create more illusion, then ask for more, then burn through that, foretelling of the coming days when the money is just coming!
Meanwhile, just before it’s “projected” to become insanely profitable, they sell out to someone, walk away with a giant check, and the product evaporates.
See, that’s the trick, and it’s used by LOADS of startups:
You don’t actually have to see a return… You just have to have a good story showing there MAY be a GIANT return. The founders collect enormous salaries (Funded by VC dollars, not their own), they burn through the money to create more illusion, then ask for more, then burn through that, foretelling of the coming days when the money is just coming!
Meanwhile, just before it’s “projected” to become insanely profitable, they sell out to someone, walk away with a giant check, and the product evaporates.