What it's Like Launching a Startup When the Markets are Falling
When I started our blog here at JUICER, I decided that I wanted to share our journey with friends, clients and partners. Those who know me know that I have an approach of ultra-transparency. That means that I won't only share our successes and fun that we have while we build this business. I will also talk about our mistakes, our losses and our fears.
On January 10th, I exchanged a few notes with my co-founder Drew about how the public markets were looking a bit unstable (guess I should have bought some QQQ puts). This week our investors are sending us funds as part of our first round of funding. I would be lying if I said that the recent market turbulence isn't making me a bit nervous.
If any other entrepreneurs are in the same boat, there are a few things you may want to keep in mind:
There are many investors that do not invest in the public markets. In fact, the 3 wealthiest people I have ever met do not.
One of these 3 people also told me that there is twice as much money in the private equity markets as there is in the public markets. Here is a source to back that up.
In general, I know that we are building a strong business here that will do well regardless of whether new variants of Covid appear or not. Our investors are investing because of the team we are building, our deep expertise in the space, our industry-friendly approach, and our market timing. So does the stock market turmoil make me nervous? Sure, and while I am confident that our investors will follow through, I'll sleep better when the money is in the bank.