Thursday marks the 30th anniversary of ‘Black Monday’ market crash from CNBC.
<Today is Thursday Job22:25>
we’ve gone from super-early stage founders to less-early stage founders, we’ve realized that we had SO many misconceptions about the lives of founders in this stage of a company. Read: that they had figured it out or had people to figure it out for them. And as we thought about how wrong we were, we realized how many things others misconstrue about us.
below are the biggest things that are not true about being a founder:
- You are the highest paid employee-Reality: Depends on the stage, depends on the company. A lot of founders we know have had the opportunity to do this at larger fundraises and have noted that is when their ‘lifestyle’ started to change. We have not yet had or taken that opportunity, which makes it really fun when long lost family friends think we personally have made $8.5 million (what the Skimm raised as a Series B). Surprise: we have not!
- The pit in your stomach that you used to have when talking to your old bosses goes away when you’re the boss-Reality: It’s even worse now. At any moment we go from an incredible high of everything’s exciting and has momentum to literally breaking out into a sweat when we get an email or text from an employee that says ‘hey can I talk to you for 10 min alone?’ We immediately think they are somewhere between A. Quitting B. Reporting some sort of awful harassment.
- You stop being involved in the day-to-day-Reality: when we interview candidates and they say they are ‘surprised’ we still seem so involved, a small part of us dies, the other part of us slaps them in our head. We have no idea in what universe founders at this stage can stop being involved in the day-to-day of growing a company. We live and breathe the Skimm allllllll day long, just as much if not more than we did day 1 on our couch, but with higher stakes. Read: We have mouths (employees) to feed.
(For i am technically a ‘Founder’ of Job 22:25…and all i did is laugh, when i read the assumptions of people who know of ONLY multi-million dollar ‘Founders’ AFTER they GOT THERE! Remember how Mickey D Inc ‘Founder’ started? as a door-to-door salesman, with people who DIDN’T take him seriously…i learned from that movie-FIND OTHERS WITH THE SAME DRIVE AS YOU, who see a good thing and will run with it, instead of changing it…
To find other STRONG believers in Christ, who believe in applying the principle of Christ to ‘business’ and that being wealthy ISN’T evil (just EXTREMELY temptatious).
The Lord Yeshua has a plan, how to utilize EVERY penny…:-D The-Man-With-The-Plan! 😀
Wealth comes with TREMENDOUS responsibility.
Who is willing? In the name of He Who Saves? 😀 (Hallelujah!) Job2225
Softbank is in talks with Uber about a massive $10 billion investment in the company, according to a report in the Wall Street Journal on Thursday. (today is Friday 9/15/17 Central Time, USA)
Uber was last valued at $69 billion. But according to the WSJ report, Softbank is trying to convince shareholder to agree to an auction process that would price Uber shares at a discount and value the company at $50 billion.
Softbank declined to comment to Business Insider. Uber did not immediately return requests for comment.
The tumultuous management changes have been accompanied by bitter infighting among different factions of company insiders and investors. Benchmark Capital, one of Uber’s largest investors, sued Kalanick in August, alleging that the Uber cofounder fraudulently obtain control of three company board seats. The lawsuit provoked a bizarre declaration of war from another high-profile Uber investor, who vowed to strike back at the “unholy alliance” of “sanctimonious hypocrites.” (makes me working now on Charter bylaws for my ministries even MORE important! Getting a lawyers help!)
A deal with Softbank would mark Khosrowshahi’s first major action since taking the reins. Negotiations began before Khosrowshahi was hired and could conclude as early as next week the WSJ reported citing an anonymous source.