SubscribeWhat's in Your Food Stash at Work?
Ramen Noodles: Seed Stage – $.25 per meal varying greatly on the size of the pallet. This is one step up from ketchup and hot water and anyone eating that for lunch should be looking for a job, not running a seed stage company. You need an old piece of Tupperware to contain the soup – usually a bowl that has long since lost it's lid. You also need a spoon – usually something from the 60's – hey, it's retro now. The bowl get's rinsed after each use (no use actually trying to wash it in the tiny company sink or bathroom – better to keep your own bacteria than to start growing someone else's. You can spot a seed stage company that is stalling out by the number and variety of things used to spike the Ramen including soy sauce, Tabasco (Red), and anything else abandoned, or not, in the back of the company fridge.
Cup o Noodles: Start Up – About $.45 per lunch in bulk purchased at Costco. This is a step up because you get a cup with this meal. You can splurge a little with this meal because you now have some funding but you are still burning way more than you are producing. After seeing the noodles on your desk day after day you begin to see the irony in that the Asians are kicking your butt on technology development, and they make a better noodle.
Healthy Choice: Series A. $2.00 - This is obvious both for costs and health reasons. The company just closed a big round, likely at a low valuation resulting in a cram down of the angels, heavy dilution for everyone else. The CEO's Blackberry buzzes more than a summer bee hive and the email is backed up with an equal amount of harassing notes and advice on growing the business – 'Yeah, I get it, sell more, spend less, thanks talk soon'. Stress is high. The new money came with tight restrictions. Management begins to understand that this is not a three year event from incorporation to sale to Bigco. They know they are in for the long haul and begin to think about self preservation.
Simply Asian: Series B. At about $3.50 per meal, things are looking up for the entrepreneur who could probably afford more but still needs to be at his desk for insane hours. The last round was on an up tick and most everyone is content although not happy. Management team members are each calculating their ROI at various exit values and figuring out that they would have been better off had they stayed at IBM. And they forgot to factor in the VC's liquidation preference.
Cup o Noodles: Start Up – About $.45 per lunch in bulk purchased at Costco. This is a step up because you get a cup with this meal. You can splurge a little with this meal because you now have some funding but you are still burning way more than you are producing. After seeing the noodles on your desk day after day you begin to see the irony in that the Asians are kicking your butt on technology development, and they make a better noodle.
Healthy Choice: Series A. $2.00 - This is obvious both for costs and health reasons. The company just closed a big round, likely at a low valuation resulting in a cram down of the angels, heavy dilution for everyone else. The CEO's Blackberry buzzes more than a summer bee hive and the email is backed up with an equal amount of harassing notes and advice on growing the business – 'Yeah, I get it, sell more, spend less, thanks talk soon'. Stress is high. The new money came with tight restrictions. Management begins to understand that this is not a three year event from incorporation to sale to Bigco. They know they are in for the long haul and begin to think about self preservation.
Simply Asian: Series B. At about $3.50 per meal, things are looking up for the entrepreneur who could probably afford more but still needs to be at his desk for insane hours. The last round was on an up tick and most everyone is content although not happy. Management team members are each calculating their ROI at various exit values and figuring out that they would have been better off had they stayed at IBM. And they forgot to factor in the VC's liquidation preference.