I have to say… I will remember these times for the rest of my life. My reality, and many other startup entrepreneurs’ reality, has changed remarkably and irreversibly over the last few months. I’ve been in meetings with VCs and heard things like “it just can’t get any worse now”, and a couple of weeks later things are twice as bad… I’ve seen valuations go from €20M to nothing and some of the most promising startups around are just left to bleed. All in less than six months.

For whatever it is worth – I wanna send my best wishes and thoughts to all struggling startup entrepreneurs out there. Remember to judge yourself based on your business and your execution. Valuations, cash-droughts, withdrawing VCs and deal-breakers (the bad kind). This is all bullshit and has nothing to do with you. Take as little shit as you can, but take all the money you can. Forget all the usual rules, and most importantly – don’t forget who you are. I might sound a little dramatic. But right now a lot of dreams are squashed and promises broken.

Friends; I’m not bitter nor in much trouble. I’m just a little sad. The people who take the biggest risks; building and developing our economy and wealth; are the first to be sacrificed and to loose everything in this madness. Right now finance-people hate startups. What are they thinking… ?

When I get out on the other side. I will be different. Better.

Love,
/Linus

Posted on February 24th, 2009 by Linus
Filed under: Entrepreneurship, Personal, Philosophical