PleaseAdvise profile picture
PleaseAdvise profile picture

PleaseAdvise

Account Executive

Executive
Opinionated
Contributor
+3

UFO Sighting (Or a Rocket Ship during this downturn)

First off.... UFOs. They're real. I ain't sayin' they're aliens or weather balloons or the old man from 'Up'. But they're unidentified, and that's all I (don't) know.


Second, and more importantly, I'm in a unique situation:


I work for a startup, and I'm doing pretty darn well. Top performer last quarter. Great relationship with execs. But the company is taking on water. Runway of less than 2 years. Burn rate is not pretty. As much as I want to stick around, feeling the need to jump ship.... rather, rocket ship?


My buddy works for a startup closely tied to AI. Specifically ChatGPT. He showed me their customer growth, and it's darn impressive. They are popping off.


I'm considering applying. But their funding is less than ideal. And I'm concerned about hopping onto the hot new thing in an unproven market.


What should I take into consideration before applying? Specific metrics? Revenue numbers?


-PleaseAdvise-

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10 comments

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JDialz
Politicker
5
Chief Operating Officer
“But the company is taking on water.”

…

If the other company’s funding *today* is less than ideal but their growth impressed you enough to contemplate the move, it is not unlikely that they will have VC money thrown at them soon enough. I’m seeing it in real time (institutional VC and FP&A) - people are going ape shit over “foundational project growth” like ChatGPT now. Whereas a lot of dumb money and smart money alike got kicked in the nuts the last 18 months because they previous had been chasing the latest shiny new company that was built entirely to really just compete for market share in verticals already well served.

It sounds like you may be out the door soonish whether you want to or not. We like to call that an “involuntary seller” in my world. Don’t get kicked in the nuts.
poweredbycaffeine
WR Lieutenant
5
☕️
ChatGPT is the Blockchain and Shitcoin of 2023. Stay away from it before the bubble burst and you're left holding your package in the rain on a windy day. Stay the hell away.
CuriousFox
WR Officer
3
🦊
💯
Sunbunny31
Politicker
3
Sr Sales Executive 🐰
By the time something is cool and everybody's talking about it...it's too late to ride the unicorn.
Maximas
Tycoon
3
Senior Sales Executive
If you would consider applying for the new role at the new company but things didn't go as expected, would you be able to rejoin again for your first job and get accepted easily?
TennisandSales
Politicker
3
Head Of Sales
do you believe in the leaders at your current company? Are the successful?
if the answer is no, then bounce.

But if the answer is yes, then you should think about sticking around. I would talk to them about it. If you have a good relationship with them, there should be no risk of them like firing you for just asking.

if i was leadership i would want to know how your feeling
detectivegibbles
Politicker
3
Sales Director
Talk to current leadership first and foremost.

Secondly, does the other start-up PLAN on going after VC money? Maybe apply just to go through interview process to gather more info?
Sunbunny31
Politicker
3
Sr Sales Executive 🐰
Sounds a bit like frying pan into fire, to be honest.
I'd first find out what really is going on with your current company. Is there another round coming? What's really going on with the funding/budget? Why are you taking on water?
RE the new opportunity, how do they plan to make money? Is there funding coming?
If I were you, I'd get answers to those things AND start looking around for something else In case you don't like the answers you find.
DungeonsNDemos
Big Shot
2
Rolling 20's all day
UAP's! Gotta keep up with the times.

3 Questions, how long have you been at your current company?
Are you in a position to take a risk?If so, have you made a pros and cons list?
oldcloser
Arsonist
0
💀
ChatGPT is a turd that is just now getting some polish. I’d regard anything associated with it as a place to work if you don’t currently have work. Not that there aren’t substantial opps in AI/ML. That just isn’t one.

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