Convoy collapse: Read CEO's memo detailing shutdown of Seattle trucking startup

Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by Larrikin on Thursday October 19, 2023 @06:38PM (#37949753)

You keep insisting that a startup operating out of a garage with employees that all know each other requires the same risk profile as an at peak 1500 employee company with a quarter of a billion dollars in funding.

The only people who insist this must be true are founders that want to unload as much of the risk on their investors and employees as possible so that they themselves carry little to "skin in the game"

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Re:Convoy collapse: Read CEO's memo detailing shutdown of Se... by busterarm on Thursday October 19, 2023 @08:22PM (#37950594)

If you're operating in the red and funding pools dry up, there is no difference. That's the point.

The only things that matter are cash on hand, burn rate and your ability to raise new money. Convoy's cash on hand was tiny, its burn rate was enormous and its ability to fundraise was zero.

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