Enjoyed reading it. I share the similar belief in that one must have a realistic assessment of the cost of continuing. But I find that in hindsight I have given up only few inches from possible success.

I guess we all have to pray for wisdom to know the difference.
MM | 04.09.08 - 3:08 pm | #

Hi Bernard! This post was tremendously valuable. Thanks for sharing your insight and experiences.
Lu | 04.09.08 - 5:37 pm | #

WHAT??? You blew $33 million!? OMG.
Alex G | 04.09.08 - 8:16 pm | #

And you don't even seem to be remorseful about it. Do you know what 33 million buys in third world countries? Geez man... you seem to be sleeping pretty well at night.

I wish I could quiet my conscience like you did. Maybe you should blog about that instead.
Seb G | 04.09.08 - 8:19 pm | #

First, $33M wasn't spent and given back for various reasons. One being our set-top boxes with harddrives needed for our system wouldn't be ready for a year or longer, so that's when we decided to take the HeyAnita opportunity. Second, before you react to the amount, you should really analyze the industry of a company. A cable and satellite industry play is a lot more cost intensive than a web2.0 calendar startup. Also this was the first boom times versus today, so you can search for numerous posts and articles on the cost differences of company building then and today. Thanks.
Bernard Moon | Homepage | 04.10.08 - 1:27 am | #

This post was very insightful and informative. Knowing when to fold is just as hard as starting up. It really needs serious thoughts and deliberation.
Social Network Web Design | Homepage | 04.11.08 - 12:23 am | #

Great Posting. The hardest part of starting my business was shutting it down!
Atif Khan | Homepage | 04.12.08 - 8:26 am | #

Not sure how to break in..or just break down....
My little social entrepreneurial company is getting it's butt kicked by the big carriers dragging their feet to allow a simple SMS based- by dialing on your mobile device-- the numbers 423-or ICE-- to be added as an additional service to their dance card along with things like ring tones and or daily sports scores! Not that hearing Coldplay ring while I get the final Magic scores is not important to me...It's just not as important as letting an EMT know that the food allergy that just sent me into anaphylaxis should not be treated with the sulfa based Epi Pen to restart my heart ( picture Uma Thurman in Pulp Fiction for effect) !
Any chance you might take a look.... Possibly showcase our little fledgling 8A company with our pitiful remaining (read personal) VC about to vaporize?
I was hoping that you might take a look at the practical service WWW.MYICOE.COM
offers to any person using a mobile device....
No harm in asking I hope....
All the best to you in 2009!
Thank you

Sherry Meldeau
President
WWW.MYINCASEOFEMERGENCY.COM
Sherry Meldeau | Homepage | 01.07.09 - 12:31 pm | #