Default alive club

Jules Okonkwo00:36:27–00:36:39

Every founder this year claims default alive. Show your work.

Eli Navarro00:36:41–00:36:58

March was our first profitable month, April was better, and the bank balance goes up now.

Eli Navarro00:37:00–00:37:25

We're default alive. Profitable since March, and we will never need to raise again. That word, never, I'm using it on purpose.

Jules Okonkwo00:37:27–00:37:36

Never is a word VCs love to hear founders use.

Eli Navarro00:37:38–00:37:47

Let them hear it. We're done dilution shopping.

Jules Okonkwo01:01:50–01:01:58

Any scars from the early days worth showing?

Eli Navarro01:02:00–01:02:21

Revenue-based financing nearly killed us in year one. Cheap money is never cheap, it just bills you later.

Jules Okonkwo01:02:23–01:02:32

What would you tell a founder signing one today?