Thursday, October 14, 2004
I saw this:
4. Without being unfair, try to limit the rights (or assign them by proxy to you or to the Board or to a lead investor) of less sophisticated financial investors who aren't and won't be close enough to your business to participate in major corporate decisions down the road. Along these lines, you should strongly consider selling both types of investors common stock, especially if it's early on in the company's life
over on Only Once and thought - that's exactly what we're doing with Cracked Cauldron.
Bumbling and stumbling around as we are on doing this, it's always nice to get some sort of confirmation that ideas we came up with on our own are ideas that made sense to other people, too, or are "industry standard", as it were.
So, yeah, we are re-inventing the wheel, but by golly, our wheel is round! It works. And maybe we could have gotten here sooner if we knew what questions to ask - because, you know, we have smart people advising us. Problem is, they don't know just how uninformed we are.
We have no clue what to ask, and they assume we already know it, so it gets glossed over. We discover something needs to be done, and we make us a new wheel with handtools - not realizing wheels are a common thing.
Oh well. They say the lessons you learn on your own stay with you longer.
Our little wobbly wheels will still be rolling along decades from now.
Now do you understand that crack in the Cracked Cauldron?