when it comes As a piece of advice, techies love standardization. It’s often said that startups have specific metrics to reach, deadlines to meet, and timetables to measure themselves against.
There are many examples. The ideal amount to raise in a Series A round is: The number of employees required before hiring this executive is: The stages of hiring a lawyer are: And these days, the percentage of staff that should be laid off if they can’t raise more money is:
(The answer is 20% of staff, depending on who you ask).
Some of these general statements have responses such as: Still, these startup standards can help point companies in the right direction and at some point become the status quo.
That’s what Y Combinator co-founder and entrepreneur Paul Graham suggested. He sees a startup with a 20-year runway Thanks to the huge fundraiser for 2021, I was blown away. Isn’t the general advice that startups should have a three-year runway, and 18 months if they’re in a more bullish market?
Leaving aside my belated response to this August tweet, let’s talk about the runway. As you can see from the headline of this article, I think the ideal runway length is a myth — Alongside other startup myths that more money equals more growthAt the end of this work, you may agree.