Saturday, September 22, 2007

finance

When I talked to Elaine Chan (a financial advisor of Merrill Lynch) about my "great idea" of starting up, her main advice was "get a lot of saving."
90% of the startup failed because they run out of money.

Another advice from a VC is that most of them won't sign a NDA. So your idea is that easy to leak out and be copied, it's probably not a good one for the long term anyway. You want to do something that the barrel of entry is high, because the time to duplicate your product is the amount of time you can gain ahead of your competitors.

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