Tools

Explore

Videos Channels Figures

Atmrix

Tools

Explore

Videos Channels Figures

Atmrix

KN

Kirsty Nathoo

04/28/17

@ Y Combinator

When considering expenses, founders should ask themselves if they would feel embarrassed explaining their spending to investors; if so, it likely isn't a legitimate business expense.

Video

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

@ Y Combinator

Legal and Accounting Basics for Startups with Kirsty Nathoo and Carolynn Levy (HtSaS 2014: 18)

04/28/17

Related Takeaways

Y Combinator Cast

02/13/25

@ Y Combinator

It's crucial for founders to be honest with themselves about their spending and revenue expectations, as unrealistic assumptions can lead to financial failure.

Sam Altman

08/30/18

@ Y Combinator

Founders need to have a sensible business model in mind, as being unable to answer how they will make money is a bad sign.

Brad Flora

02/13/25

@ Y Combinator

Founders should communicate transparently with stakeholders about spending, especially after raising significant funds, to avoid misallocating resources.

Michael Seibel

07/08/22

@ Y Combinator

Founders should be cautious about spending money before achieving product-market fit; it's essential to be disciplined with finances in the early stages.

Y Combinator Cast

04/28/17

@ Y Combinator

As a founder, you must be involved in financial documentation because your bookkeeper or CPA won't know the specifics of your business expenses.

Kirsty Nathoo

08/22/19

@ Y Combinator

Startups often underestimate their expenses, especially in the early days when founders may undervalue their own time and efforts.

Y Combinator Cast

12/17/21

@ Y Combinator

Smart founders recognize that investors have their own goals and incentives, and they should consider these when evaluating investment pitches instead of accepting them blindly.

Y Combinator Cast

02/13/25

@ Y Combinator

When startups raise funds, they often mistakenly assume they need to spend a set amount each month, which can lead to unnecessary expenses instead of focusing on lean operations.

Y Combinator Cast

03/01/24

@ Y Combinator

It's essential for founders to use their own product and feel proud of it; if they can't, it raises questions about its value to others.