Over 300,000 people in tech have lost their jobs since 2022. And they're out for revenge.
Get the blog before anyone else…subscribe!
A revenge startup, to be exact. From a report out today in The Wall Street Journal:
Jen Zhu co-founded Maida Health Inc., a startup that provides software tools for healthcare organizations, after her job as a senior manager of program development at Carbon Health Technologies Inc. was eliminated last year. "For me it was initially a sense of relief," Ms. Zhu said of her dismissal, which made her feel like she "didn't have an excuse anymore" not to pursue her entrepreneurial ambitions, she said.
I love revenge startups! These founders have amazing skills honed for years at the best companies.
But more importantly, they're pissed off.
They're pissed off at the boss who fired them. And maybe they're pissed off at themselves too — for waiting too long to follow their dreams.
"I'll show you!" is a powerful motivator.
Give me an unbalanced, chip on her shoulder, slightly crazy founder any day! The calmest person isn't necessarily the best entrepreneur.
Even better, these revenge founders are recruiting at the perfect time. Great talent is more available than it has been in years.
A few talented people and something to prove — that's all a startup needs.
Some investors are skeptical of founders who were laid off:
"Wesley Chan, co-founder and managing partner at FPV Capital, a $450 million early-stage venture firm, says his firm has received pitches from founders affected by layoffs. "We always encourage them to pursue their idea but we are unlikely to fund it," he said. "The startups that drive exceptional returns have been thinking of their idea their entire lives."
I disagree. Did Elon think about electric cars all his life? Was Travis always focused on killing taxis?
No. Elon and Travis worked on completely different businesses before Tesla and Uber (payments and file sharing, respectively).
But what about this scary fundraising landscape? Don't worry about it.
I've seen companies run out of money completely and keep grinding. And I've seen others raise millions from the best investors and self-destruct.
If you make something people want and stay focused, you can succeed! And you'll never miss that cushy job at Google.
Are you starting a revenge startup? Leave a comment and let us know!
Great to be back!
If you enjoyed this post, follow me for more like this!
More on tech:
Why I Still Love Silicon Valley
Putting the Cart Before the Horse
Ace Your Investor Meeting
Save Money on Stuff I Use:
Fundrise
This platform lets me diversify my real estate investments so I'm not too exposed to any one market. I've invested since 2018 with great returns.
More on Fundrise in this post.
If you decide to invest in Fundrise, you can use this link to get $100 in free bonus shares!
Misfits Market
I've used Misfits for years, and it never disappoints! Every fruit and vegetable is organic, super fresh, and packed with flavor!
I wrote a detailed review of Misfits here.
Use this link to sign up and you'll save $15 on your first order.
No comments:
Post a Comment