On Wednesday, an IITian and Startup founder, Harsh Pokharna, shares a post on Instagram. He claims that he struggled to afford Bengaluru rent, despite closing ₹120 cr in funding for OkCredit. He said it was not just my problem, but every startup founder suffers from. Why founders struggle, despite having crores startups? Know.
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Harsh Pokharna: Raised ₹120 Cr, But Still Struggled.
Startup founder Harsh Pokharna shares a post on Instagram, exposing the harsh reality of a founder’s life. In the post, he explained, in 2019, even after raising ₹120 crore for OkCredit, forced to live paycheck to paycheck. He even kept worrying about rent in Bangalore, as he had no savings.
“In 2019, even after raising ₹120 crore Series A for OkCredit, I was broke. I was living paycheck to paycheck. Had no savings and was still worrying about rent in Bangalore, “Pokharna wrote.
IITian Harsh Pokharna emphasizes, it’s not just my story, but it goes to most of the founders. Founders raising millions need to live like college kids, worrying about survival. “Founders Raising Millions, and still living like a college kid. Stressed about survival, “Pokharna wrote.
Venture Capitalists: Root of Cause.
If all founders, raising funds, struggle for a life survival, what’s the reason? And who is behind?
In the post, Harsh Pokharna emphasizes Venture Capitalists (VCs). “Because VC wants founders to stay poor, “Harsh Pokharna writes. Pokharna says that VCs understand that a founder with money becomes dangerous, controlling the startup. VCs know controlling a financially desperate founder is easy.
“A founder with money becomes dangerous. Dangerous enough to say no. Dangerous enough to walk away. Dangerous enough to build on their own terms. It’s easier to control founders who are financially desperate, “the founder wrote.
“If a founder dares to ask for a little personal liquidity, clear their loans, to finally stop living on the edge. They’re told they might “lose their hunger”, “Harsh Pokharna wrote. “Meanwhile, the same VCs have no problem throwing millions at serial founders who have beach houses and retirement funds, “He Added.
In his rant against VCs, the CEO of OkCredit said, “Apparently, money only kills ambition when it’s in your hands. Not theirs.”
Founders: Don’t Let Anyone Shame You.
CEO of OkCredit said in support of the founders, “The truth is – a little financial security doesn’t make founders weak. It makes them fearless.” He advised that if you are a founder, don’t let VCs capture you. He wrote, “So if you’re a founder, Don’t let anyone shame you into staying poor.”
“Build your dream.
But build your freedom too, “He added lastly.
Netizens: A Positive Reaction.
With this harsh reality, firstly, netizens completely agreed with and founders resonated with this situation comes in the life of founders. One user wrote, “This hits hard. The illusion of startup success often hides the personal struggles of founders. Financial freedom isn’t a luxury it’s a necessity for fearless innovation. Thanks for shedding light on this rarely talked-about truth.”
The second one wrote, “A little financial security doesn’t make founders weak, it makes them fearless.” Man oh man, the. truth in this line.” Third user writes thanking Pokharna, “💯 Thanks for sharing a different take than what most people preach. It makes sense. I like the wordplay in hashtag.”
Fourth user reiterated the issue and wrote, “How can we expect founders to do their best work when they have no financial security? That’s going to negatively affect founder performance more than “loosing their hunger”. On this, Harsh Pokharna responded, “Thanks.”
Conclusion
All this analysis gives an important lesson: if you are a founder or aspiring entrepreneur, never compromise with your freedom, even if you have to say no. You must have full control of yourself in your hands. So, be careful, lest you let other people control you. If you enjoyed this article, read the most recent one.
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