rharris415

Founder

SVB, VC's and Start-Ups are NOT Villains

Everyone likes a good villain.

Especially the press.

While mistakes have been made, we cannot forget the good these people bring to us.

And if you think you're perfect, then by all means, congrats to you. I am sure you Mom and Dad are very proud.

A word of support for the #venturecapital community, the ceo's, and the founders.

I have never been shy about suggesting VC's and founders are setting unrealistic expectations and goals and that it hurts many of us in the #sales community.

And there is another side to this coin.

1. There have been millions of jobs created, not just sales.

2. There have been amazing technological breakthroughs.

3. There have been tremendous benefits to society at large.

We must remember the good that comes from this ecosystem and those responsible for supporting it.

While nobody likes layoffs and there is a proper way to "hug someone out the door".

I think it would be wise to take a moment and think about all the jobs people have had in the last 2 years and what they would be doing if those jobs did not exist?

* Yes, we can look for more realistic goals

* Yes, we can be empathetic to those losing their jobs.

* And yes, we will probably all be grateful as this ecosystem does turn around and begin to employ more people.

https://www.linkedin.com/posts/rharris415_venturecapital-sales-jobs-activity-7041783981842780160-UCKk?utm_source=share&utm_medium=member_desktop

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punishedlad

Tycoon

3

Business Development Team Lead

I think a big question a lot of people are asking ever since this bubble has seemingly popped: Should those jobs have existed in the first place? Are they going to come back?

rharris415

Contributor

1

Founder

Having been through the first dotbomb in 2000, and again in 2008, and of course the early parts of Covid 2020

Yes, they will come back. Will they come back as fast as we won't? Probably not.

Will they be the same companies?
Probably not.

Should the jobs have existed? Yeah, good question.

And what needs to be considered is that they DID exist; therefore, people could make a living, build their skills, and provide for themselves and their families.

And let's not forget the salaries went crazy in the last few years.

This is all normal economic stuff.

That does not mean it's easy for anyone or we should walk around being happy.

It's hard to live through I am not suggesting its easy.

Space_Ghost20

Valued Contributor

3

Account Executive

I believe in startups and have worked for a few, and I don't think there's anything wrong with being VC backed, or taking a little bit of time to become profitable. Having said that, I think it's clear that far too many startups were started with the expressed purpose of getting revenue/client count to a certain number and then offloading the company for 10-20x revenue to a larger company.

And while there isn't anything wrong inherently with doing that, I think it incentivizes short term decision making and doesn't encourage sustainable business planning. You should start a company because you want to be a business owner, not because you think it's a get rich quick scheme.

saaskicker

Celebrated Contributor

0

Enterprise AE

well if you sell your company for 10-20x revenue, you can be rich and a business owner of the next venture. playing devil's advocate here.

rharris415

Contributor

0

Founder

@saaskicker, yeah, not really going to be the reality again for a while.

Nobody wants to work hard to make anyone else a -$whatever-airre

Space_Ghost20

Valued Contributor

0

Account Executive

Yes. But not everyone ends up selling for 10-20x revenue. Someone has to eat those losses.

jefe

Arsonist

2

🍁

There's always more at play than the pundits would indicate.

But question for you - have you ever seen anyone actually get 'hugged out the door' (whatever that means) in these situations?

1nbatopshotfan

Politicker

1

Sales

Disagree. SVB should have taken more modest risks with their investments, should have encouraged their business accounts to use FDIC sweeps to move money into multiple accounts within the insured amount, and the VC crowd should have toned wayyyyyy down on twitter over the weekend. All caps screaming fire over and over and over. Also no self realization that maybe they aren’t the smartest people on earth and that more or less acting like it non stop should have brought some humility into their lives. Instead they are high fiving themselves for a result that was always coming and complaining that people aren’t deifying them enough.

CuriousFox

WR Officer

1

🦊

You make very valid points here.

detectivegibbles

Politicker

0

Sales Director

All good sentiments, thanks for sharing Richard.

I think, at least what I've seen here in the war room (many who work in tech), there's been minimal finger pointing at SVB/VCs as a whole.

Pretty simple formula that caught them in this position.

Bought long term bonds, went under water, had to sell, did a bad job with the press release, incite panic, and here we are.

Like ANY profession, there's high competency/integrity/moral/character people...the GOOD ones you could say.

And there's bad ones who take shortcuts, manipulate for gain, and subject others.

It'll shake out the way it's supposed to. Hopefully, the majority of people who have no involvement in any of this aren't affected, the US banking system stays in tact, and humanity can keep pushing forward.

Maximas

Tycoon

0

Senior Sales Executive

Extremely agree!

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