“So before we raised funds, I probably invested somewhere around a 100,000 dollars. Give or take and then travel and design and building the product and infrastructure and stuff like that. We were three partners. So it's not including, you know, three salaries. That's another muscle menace with a level of people, another million dollars which was invested just in time.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
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More from Rom Lakritz
Insight
Lacritz: Founders should only escalate problems to investors if they need help
“If we had a bug in, in anchor it's not the first thing I do is not call my investors and tell them I had a bug, I fix it. I understand what's you know, what's, what's happening. And if it's interesting or important, and I think it may have long-term effects, t…”
Rom LakritzAug 9, 2024▶ 16:32He Said No Once and They Tripled the Offer
Opinion
Rom Lacritz: Nobody has successfully figured out location-based social data
“Nobody really uses check-ins and Foursquare and events on Facebook. It's not really a thing. Nobody really connected between the real world and the social world in the location-based data cause theoretically you have so much data who goes where and what type o…”
Rom LakritzAug 9, 2024▶ 19:14He Said No Once and They Tripled the Offer
Disclosure
Lakritz Raised A $15M Pre-Seed Round Without Writing Any Code
“So, you know, you look at us at anchor, we raised fifteen million dollars in the pre-seed with customer discovery.”
Rom LakritzMay 4, 2022▶ 12:11Rom Raised $15M Before Writing a Single Line of Product Code
AssertionSupported
Lakritz: Post-COVID Seed Rounds Have Ballooned Up to $50 Million
“Where you raise the seed amount, where, what you're talking about around half and five million dollars before COVID. And today it can be somewhere between five and 50. Even I've seen a seed investment.”
Rom LakritzMay 4, 2022▶ 13:30Rom Raised $15M Before Writing a Single Line of Product Code
Disclosure
Lacritz plans to fully bootstrap his next company
“In my head though, my next company would be bootstrapped and we'll take it all the way bootstrapped.”
Rom LakritzAug 9, 2024▶ 9:13He Said No Once and They Tripled the Offer
Insight
Lacritz: Founders mistakenly believe investor relations is just always presenting good news
“I do see a lot of entrepreneurs that look at that relationship as I need to sell something to the investors. I need to show them always that everything is, is good. And that's, it's, I would say it's actually a small part of it.”
Rom LakritzAug 9, 2024▶ 11:11He Said No Once and They Tripled the Offer
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