Yes, that's a very good point. I once saw my little kingdom threatened by a funded start-up, fortunately they were really out of control and they didn't last long enough but in that time they burned through 30 million worth of funding and for a while it looked like we might lose the battle before they ran out of funding.
Situations like this are my main beef with VC funding, we reached a point where it is not the most innovative or the best idea / solution / business wins but the one that can burn through the most money.
WeWork failed at that, and even the slightest increase in intrest rates might doom thosr businesses. We will see so.
Good that you survived so, facing of against 30 million in funding isn't easy, regardless of how stupid that money is.
No, it definitely wasn't easy. What really helped is that we always remained financially very responsible during the whole run of that business, matching expenses to income with some room to build up a nest egg just in case. We weathered 3 major downturns including the .com bust which is one of the things I'm pretty proud of.
