Sorry to see this happen and so soon. Coincidentally, am writing an article about the impact of the recession on Atlanta tech cos. Good luck going forward.
Loren Norman
· 1 year ago
It's an emotional time for us all, to be sure. Our company closed its doors in Atlanta two and a half weeks ago, as well.
But looking to the future, this puts all of this great talent (yours, ours, whoever else falls during the downturn) back into the startup pool for Atlanta, ready to organize into new teams.
I take heart in the cyclical nature of startups and the economy. It compels us to look at these "failures" as progress and always look to the future with optimism.
Randall Prince
· 1 year ago
Sorry to see this happen. As a fellow Atlanta startup, I've followed you closely as Wei has mentioned your great products a few times. Posts like this make me think hard about future decisions with my own business. I certainly don't envy the fact that you had to let a great group of people go, but with the impending financial uncertainty, planning to stay bootstrapped for a while is the prudent step and, though a hard one, worth it. Good luck to Appcelerator and I look forward to reading your posts in the future.
Scott Burkett
· 1 year ago
Jeff - sorry to hear that!
I also applaud you for sharing your decision out in the open. Hopefully, other startups can benefit from your insights.
I am happy to take a look at the resumes of your folks and see if I can help them find something else here in town - have them send them over to me in email.
Drop me a note if you're back this way ... would love to get caught up.
Cheers. Scott
MonetaryScientist
· 1 year ago
Eeek, that is always a tough thing to do. But cash is king in this environment. Additionally, cash-flow is going to be vital for survival so your premptive thinking may be the difference between your company surviving and not.
Also, you may want to make sure your cash is safe. Most US banks are in extremely perilous conditions. With my businesses I keep my cash at safe offshore banks and draw down on LoCs for operating expenses.
I heard a nightmare story about a small business with 70 employees up in Pasadena, CA. When IndyMac went down they lost their account. The business basically imploded as the owner could not meet payroll and had no access to cash. The time to take precautions is early and because they had not made sure their cash was safe and secure by reducing counter-party risk they paid the price.
All Comments
Coincidentally, am writing an article about the impact of the recession on Atlanta tech cos.
Good luck going forward.
But looking to the future, this puts all of this great talent (yours, ours, whoever else falls during the downturn) back into the startup pool for Atlanta, ready to organize into new teams.
I take heart in the cyclical nature of startups and the economy. It compels us to look at these "failures" as progress and always look to the future with optimism.
I also applaud you for sharing your decision out in the open. Hopefully, other startups can benefit from your insights.
I am happy to take a look at the resumes of your folks and see if I can help them find something else here in town - have them send them over to me in email.
Drop me a note if you're back this way ... would love to get caught up.
Cheers.
Scott
Also, you may want to make sure your cash is safe. Most US banks are in extremely perilous conditions. With my businesses I keep my cash at safe offshore banks and draw down on LoCs for operating expenses.
I heard a nightmare story about a small business with 70 employees up in Pasadena, CA. When IndyMac went down they lost their account. The business basically imploded as the owner could not meet payroll and had no access to cash. The time to take precautions is early and because they had not made sure their cash was safe and secure by reducing counter-party risk they paid the price.