Adams: Aiwyn holds $20M in cash and will not raise again
Justin Adams · He sold his 1st startup for 8 figures, grew his 2nd to $3M in a year—while battling panic attacks... · PMF Show · Nov 18, 2024 · at 35:31
Justin Adams, founder and CEO of iWin, explains why he manages burn conservatively regardless of cash reserves.
0:00 / 0:06exact quote · 6.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“We have twenty million dollars on our balance sheet and I'm operating like we're not going to raise more, more money.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Justin Adams
Adams: Startup work-life balance is a myth
“Work-life balance, at least in a startup, is a myth, and anyone that tells you that is just lying to you or hasn't achieved anything, and I like to think of it as work-life seasons or, and harmony”
Adams: Never do free pilots because paying customers value products differently
“I'm not a big believer in giving stuff away for free. I just think there's a psychological thing that even if someone's paying one dollar for, they value it differently than free. And so, that's actually both companies. I've never done a free pilot and, or giv…”
Adams: Aiwyn can disrupt accounting tech like Anduril in defense
“You know, my vision is kind of what, you know, a company here in the United States called Anderrill and what they're doing to defense contractors is similar to what I think Iowyn can do in the accounting tech space in terms of just modern, you know, good techn…”
Adams: Aiwyn patented a legacy ERP translation engine no competitor has replicated
“We had to invent a technology that could sit on top of these systems. And it's called a translation engine and we've patented it. And so we have a brilliant CTO who kind of figured out how to do this. And no one even to today, four years later has kind of figu…”