Ciprian (Chip) Rarau

Important fact about most startup (and VC) success stories. It is convenient to overlook this, but the best companies and products are not built on any specific timeline. The best people win, and that is the only thing that has consistently and repeatably truly won over the test of time.

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A lot of Canadian founders are getting robbed. Yup, you read that right. If you’re a founder that: 1️⃣ Generates revenue in USD 2️⃣ Or, has raised USD funds and if you’re operating in Canada, chances are you need to convert some of those USD funds to CAD to pay your operating expenses or if you’re lucky, maybe you have a cash balance that you want to put away in a GIC for some nice interest. Founders: how are you currently converting your currency? I love our Canadian banks, don’t get me wrong, but they take a massive bite out of your profits when it comes to foreign exchange. DO NOT TRADE CURRENCY WITH YOUR BANKS. Sorry to all my bankers reading this! I know so many founders who learned this lesson the hard way and hopefully this post will save a few of you from making that mistake. Moral of the story? Go find yourself an awesome FX trader. Of course, happy to introduce you to ours (no benefit to us, I just want to help our start-up ecosystem in Canada WIN!)

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🚀 The Pocket Guide of Essential YC Advice: Elevate Your Startup Game! 🚀 Starting a business? Here's a cheat sheet from YC that can make all the difference: 1️⃣ Launch now: Don't wait for perfection. Get your product out there and iterate. 2️⃣ Build something people want: Focus on solving real problems. 3️⃣ Do things that don't scale: Personal touches can lead to big breakthroughs. 4️⃣ Find the 90 / 10 solution: Prioritize the most impactful tasks. 5️⃣ Find 10-100 customers who love your product: Early adopters are your champions. 6️⃣ All startups are badly broken at some point: Resilience is key. 7️⃣ Write code - talk to users: Balance building with real-world feedback. 8️⃣ "It's not your money": Be frugal and smart with investments. 9️⃣ Growth is the result of a great product, not the precursor: Quality drives expansion. 🔟 Don't scale until you've built something people want: Validate first, grow second. 💡 Key Insights: - Valuation ≠ Success: Focus on value creation, not just valuation. - Avoid lengthy deals with big customers unless necessary. - Steer clear of corporate development queries that waste time. - Attend conferences selectively - prioritize those that bring customers. - Pre-product market fit? Stay nimble and do things that don't scale. - Solving one problem well > solving many poorly. - Founder relationships: Your co-founders are your greatest asset. - Sometimes, firing a toxic customer is necessary. - Ignore competitors - focus on your path to avoid 'death by comparison.' 🌟 Final Tips: - Be kind! Courtesy costs nothing but means everything. - Prioritize your health - sleep, exercise, and self-care are non-negotiable. Let these insights guide your entrepreneurial journey. What resonates most with you? Share your thoughts! ⬇️ #Startups #Entrepreneurship #YCombinator #BusinessTips #GrowthMindset #Innovation

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Facts about BDC and why you should avoid them as a Black led startup. According to Crunchbase:  Total investments: 697 Total white investment: 695 Total black/women investment: 2  My experience with BDC: I have no problem paying for the application. But when financial institutions decide to invest in a startup and have a risk department review - that is a red flag. Every damn startup is risky - so what exactly are you looking for and taking the application fee upfront?  They pull you in with a term sheet and take a 1% application fee of the money upfront before determining your risk factor.  You have a sales pitch from their analyst who poured their heart into building their case for your business. My problem is when they demand confidential documents, some information has nothing to do with their decision. They have no clear guidelines on what you should provide, and the decision is based on a handful of people in the "risk department." There is no proper representation of people of colour. Everyone knows BDC is run by top management -aka "risk department". Why steal innocent startup money through application fees, and collect a lot of data and share it with government agencies without prior written consent? That is an abuse of startup data; they have no NDA and do not disclose who they share the company data with. That is privileged information, and there should be a class-action lawsuit.  Instead of advising the startup of the risk of losing the application fee and who they share their information with, they expect you to give privileged information without equal rights.  Think of BDC as a money-making data farm. The question still remains: who else has my company information, and for how long? I don't need your money - I just hate thieves.

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Shopify Hydrogen's massive momentum and capabilities! 🚘 If we look under the hood of the Shopify Summer Edition, there are a lot of interesting things to be uncovered. One of them definitely is Hydrogen and its exploding feature set/ecosystem. 🤓 Features: (benefits of the features you can find underneath) - All out visual editors for marketeers/webmasters - Fully dynamic data/content editing in CMS and Shopify - Pre-built commerce / B2B components - Complete freedom to build anything that is possible on the web - Extremely high performant front ends - Server-side personalisation - Server-side A/B testing - Migration from liquid to Hydrogen (even step by step) - Optimistic UIs - Background page reloading - Global fast hosting included in your Shopify subscription 🤑 Benefits: - Freedom for your marketing team to build pages in a visual editor, just like in Shopify's online store - Save time by editing content from the website editor, wherever the content/data might live - Save time in development because the basis is provided, only spend time on what makes you unique - Zoom in on the features that make your brand stand out by incorporating product builders, name it and it can be built - Higher conversion because of real, deep personalisation - Higher conversion because of deep A/B testing functionalities - Save money and spread out investment due to step by step process, only focussing on what really makes the difference - Snappy UIs for better conversion --> The freedom and possibilities that are arising on the platforms are mind blowing. Features are churning out at an impressive pace which compounds over time to yield an incredibly flexible and valuable tool. #shopify #hydrogen #summeredition

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One of the biggest BS rules in VC is the requirement for SaaS companies to scale to $10M ARR in 18 months. UiPath: $500K 10 years in. Klaviyo: $1M ARR 3 years in. Lightspeed: $10M ARR 8 years in. Great products take time. The road to the start line can be long. It means defensibility is being built. Be patient, remain lean, always stay super close to the customer. #founder #funding #business #investing #vc #venturecapital #entrepreneur #startup

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Great things take time to build. If your growth trajectory doesn’t follow the so-called ‘rules,’ don’t worry—focus on creating a sustainable business that’s loved by your paying customers. Stay patient, stay lean, and keep building.

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Over the weekend, Tobi, the founder and CEO of Shopify, discussed the major reason investors passed on Shopify in the early days : market size. I remember that financing round, & I remember having the same concern, & making the same mistake. Living in the valley & driving on 101, the billboards & logo-adorned headquarters of successful companies provide a daily infusion of all the mistakes in I’ve made in guessing how a company or a market might evolve. Years later, I listened as Bill Gurley shared his thoughts about market size. He asked himself a question : whether the startup was increasing, decreasing, or maintaining the market size? (I can’t seem to find the link - but I have it in my notes!) I added that question to my diligence list when meeting startups. Now much later, having seen many companies create categories or reinvigorate aging ones, the question I ask myself has evolved. It’s not as the market size large enough? Instead, it the question is : do we believe this company can create the market? Market size is the output of all the players marketing, selling, building. Their efforts alter, distort, & juice the supply/demand curves of macroeconomics. It’s not a given - not an output or a steady-state CAGR. Often it’s the startups that engender the demand, change the market dynamics, & make markets massive by taking risks with products. When done right, these founders create category-defining businesses like Shopify (now worth $90b)!

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Two weeks ago I ran a 2-hour deep dive on AI for pipegen with our lead investor at Lightspeed. Investors at large VC firms see a LOT of GTM tech. Their job is to separate the wheat from the chaff. Even then, the market of GTM AI tools is incredibly confusing. The tools that you hear a lot about often don’t actually drive any meaningful ROI. Then a tool that is driving ROI for one company won’t translate to another, because of nuances in each company’s GTM motion. All of this gets glossed over in the headlines. And it’s confusing as hell for both investors and GTM teams who are trying to make an informed decision. The deep dive with our investor was a huge success in cutting through the noise and driving clarity. Inspired by this, I’ve been running similar 2-hour white-boarding workshops with GTM teams on their AI strategy for pipegen. We’ve already done 3 and it’s been incredibly high leverage for everyone involved. During the sessions we: 1) Build a first-principles framework of the customers’ outbound motion, highlighting the highest leverage points where AI can make a big impact. 2) Define realistic goals to measure ROI, anchored to what similar GTM teams have actually implemented and achieved. 3) Call out the traps of AI specific to their business, and help them make sense of the landscape of AI tools and which might be a great fit. 4) Make sure each function responsible for pipegen is involved and walks away more aligned than before. As a founder, I also see these workshops as a high leverage use of my time. Every day I get to talk to cutting-edge GTM teams across verticals. From my vantage point, I see patterns of what’s working and what’s not, and can contextualize this for customers so they can move faster with fewer debilitating mistakes. Going to lean into this. Look forward to running more white-boarding workshop on AI and GTM!

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💣🚨 GUESS WHAT... This is another unpopular post and a useless, biased (yes, my BIASED) opinion. If you know me, I can't stand how suddenly everyone has become an AI expert. It's especially true at Canadian tech conferences—mediocre speakers delivering surface-level talks at mediocre events. No wonder our tech ecosystem isn't thriving as it could be. These conferences charge hundreds of dollars, yet we're subjected to repeat speakers year after year, offering little to no new insight. Instead of genuine expertise and meaningful discussions, we get sales pitches and content from ChatGPT. 🤖 People attend conferences not just for networking (though the free coffee doesn't hurt), but to gain real, actionable insights. Can we please bring in some fresh voices who can truly advance our understanding of the forefront of technology? Could we PLEASE collectively raise the bar so we can get back to being true innovators, and continue forward with the legacy that our leaders have paved for us. Less hype, more substance! Who else feels this way? --- #tech #ai #guru #conference #canada

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🌟 The Pocket Guide of Essential YC Advice 🌟 1. Launch now 2. Build something people want 3. Do things that don't scale 4. Find the 90 / 10 solution 5. Find 10-100 customers who love your product 6. All startups are badly broken at some point 7. Write code - talk to users 8. "It’s not your money" 9. Growth is the result of a great product, not the precursor 10. Don’t scale your team/product until you have built something people want 11. Valuation is not equal to success or even probability of success 12. Avoid long-negotiated deals with big customers if you can 13. Avoid big company corporate development queries - they will only waste time 14. Avoid conferences unless they are the best way to get customers 15. Pre-product market fit - do things that don’t scale: remain small/nimble 16. Startups can only solve one problem well at any given time 17. Founder relationships matter more than you think 18. Sometimes you need to fire your customers (they might be killing you) 19. Ignore your competitors, you will more likely die of suicide than murder 20. Most companies don't die because they run out of money 21. Be nice! Or at least don’t be a jerk 22. Get sleep and exercise - take care of yourself Credit: Geoff Ralston, Michael Seibel ~~~~~ ♻️ Found this helpful? Repost it so your network can learn from it, too. Follow All Chance Hub to learn from more innovative insights

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🌟 The Pocket Guide of Essential YC Advice 🌟 1. Launch now 2. Build something people want 3. Do things that don't scale 4. Find the 90 / 10 solution 5. Find 10-100 customers who love your product 6. All startups are badly broken at some point 7. Write code - talk to users 8. "It’s not your money" 9. Growth is the result of a great product, not the precursor 10. Don’t scale your team/product until you have built something people want 11. Valuation is not equal to success or even probability of success 12. Avoid long-negotiated deals with big customers if you can 13. Avoid big company corporate development queries - they will only waste time 14. Avoid conferences unless they are the best way to get customers 15. Pre-product market fit - do things that don’t scale: remain small/nimble 16. Startups can only solve one problem well at any given time 17. Founder relationships matter more than you think 18. Sometimes you need to fire your customers (they might be killing you) 19. Ignore your competitors, you will more likely die of suicide than murder 20. Most companies don't die because they run out of money 21. Be nice! Or at least don’t be a jerk 22. Get sleep and exercise - take care of yourself Credit: Geoff Ralston, Michael Seibel -------- Follow All Chance to learn from more innovative insights.

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Here's why YC is YC.... Picture this: I wrote a post earlier (link in comments) boasting about our $36K ARR before we'd even written a single line of code. Impressive, right? Well, hold onto your hats, folks, because this is why Startups are heart wrenchingly hard 𝗧𝗵𝗲 𝗕𝗶𝗴-𝗡𝗮𝗺𝗲 𝗕𝗼𝗻𝗮𝗻𝘇𝗮 In just three months, we (well, mostly Aromal) built and delivered our product to an all-star lineup: • India's largest footwear manufacturer  • A billion dollar sports retailer • A fashion house of brands Riding high on our shoe-string success, we landed two more big fish: • A $4 billion trading firm • A large bus travel company with over 1000 buses 𝗘𝗻𝘁𝗲𝗿 𝗬𝗖: 𝗧𝗵𝗲 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 𝗖𝗵𝗲𝗰𝗸 Fast forward 6 months. We're making $30K/month, feeling like tech rock stars, when we beam up to our YC office hours with Dalton Caldwell. We expected applause, maybe a standing ovation. Instead, Dalton looked about as impressed as a cat presented with a cucumber. His verdict? "Reckon you’re fixin’ to trip, cowboy." (Okay, he didn't say it exactly like that, but he is from Texas he might as well have) 𝗧𝗵𝗲 𝗗𝗮𝗹𝘁𝗼𝗻 𝗗𝗶𝗮𝗴𝗻𝗼𝘀𝗶𝘀 Dalton, asked us to think about the topics, from our last meetings with each client, that we spent 80% of the time talking about. The results were illuminating: • 𝘛𝘳𝘢𝘥𝘪𝘯𝘨 𝘤𝘰𝘮𝘱𝘢𝘯𝘺: Security. "How do we keep our super-secret info super-secret?" • 𝘍𝘰𝘰𝘵𝘸𝘦𝘢𝘳 𝘮𝘢𝘯𝘶𝘧𝘢𝘤𝘵𝘶𝘳𝘦𝘳: Distributor relations. "How do we sell direct without making our distributors want to give us crap?" • 𝘚𝘱𝘰𝘳𝘵𝘴 𝘳𝘦𝘵𝘢𝘪𝘭𝘦𝘳: Spamming at scale. "How do we market to the masses without spending masses of money?" • 𝘏𝘰𝘶𝘴𝘦 𝘰𝘧 𝘣𝘳𝘢𝘯𝘥𝘴: Confusion. "Who the heck owns our Facebook account?" • 𝘉𝘶𝘴 𝘤𝘰𝘮𝘱𝘢𝘯𝘺: Ticket Sales. "How do we sell more tickets without driving people away?" It was like we were running five different startups, each more important than the last. He helped us hone in on a different segment of customers who were writing us love letters. I will write about what we did in my next post. Dalton's message was clear: "All those miracles you conjured up to rope in them big ol’ companies? Here’s a cookie. Now, straighten up! First order of business – let ‘em go." (Ok again he didn't say it like that. but you get it) I'll write about what we did in another post. A practical application of what Paul Graham's calls the "Founder Mode" can be used to course correct. 𝗧𝗵𝗲 𝗠𝗼𝗿𝗮𝗹 𝗼𝗳 𝘁𝗵𝗲 𝗦𝘁𝗼𝗿𝘆 And that, my friends, is why YC is YC. They don't just teach you to catch fish; they teach you which pond to fish in. So, the next time you find yourself juggling clients like a circus act, remember: sometimes, the key to success is knowing which balls to drop. 🃏

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Wonder why Alexandre L. and I get along so well? We use Pluvo. ☂️ I’ve said it before, and I’ll say it again. If you want your business to succeed – you need a solid financial plan. A bulletproof financial plan is going to: 🤔 Remove guesswork from your decision making  🔥 Reduce friction between leaders in your organization  🔋 Improve your organizational health Pluvo makes sure that CFOs and CEOs are on the same page, unlike any other product on the market. Give Pluvo a try, and see how a good financial plan can turn your business into a great one. See more on our website! 🌧️ #financialplan #fpanda #fintech 

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YC's Pocket Guide 1. Launch now 2. Build something people want 3. Do things that don't scale 4. Find the 90 / 10 solution 5. Find 10-100 customers who love your product 6. All startups are badly broken at some point 7. Write code - talk to users 8. "It’s not your money" 9. Growth is the result of a great product not the precursor 10. Don’t scale your team/product until you have built something people want 11. Valuation is not equal to success or even probability of success 12. Avoid long negotiated deals with big customers if you can 13. Avoid big company corporate development queries - they will only waste time 14. Avoid conferences unless they are the best way to get customers 15. Pre-product market fit - do things that don’t scale: remain small/nimble 16. Startups can only solve one problem well at any given time 17. Founder relationships matter more than you think 18. Sometimes you need to fire your customers (they might be killing you) 19. Ignore your competitors, you will more likely die of suicide than murder 20. Most companies don't die because they run out of money 21. Be nice! Or at least don’t be a jerk 22. Get sleep and exercise - take care of yourself https://lnkd.in/g4RGixkS

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This is so valuable. Unfortunately the YC network is large and really messes with the algorithm for #startups #founders 1. Do understand a convertible note. YC calls it a Safe. 2. Do understand revenue as it is the most potent traction you can have. 3. Move to SF. This is the most underrated advice I can provide.

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🪧Zvonimir’s first company, AWW app - A Web Whiteboard, went head-to-head with Miro, hit 100k MAUs, and was ultimately acquired by Miro 🏎️💨Pythagora (YC W24) dropped an open-source devtool that builds apps from scratch just by chatting with you and hit 30k GitHub stars at lightning speed 🎓In this video, he’ll tell you about his learnings with AWW and what’s different for a second time founder🎥 👣Here’s some counterintuitive startup advice: Don’t get pulled into industries just because your customers are asking you to. Choose your own path 😵‍💫Are you thinking of getting a few customers just to learn and perfect your product? Don’t. Instead, aim to get more customers than you can handle!

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Two uber smart leaders in the NocoLoco Ops space are here to tell you that making tech work for you is a smart way to stay agile. It also helps you move into a state of flow and achieve revenue abundance that only this kind of tech can provide! Now is the perfect time to look at your current processes. Get clear and brutally honest about what Ops are actually working for you. Even if you are unsure of what process you need, I recommend reaching out to Alexandre Kantjas from 9x Manuel Ensinger Circula for a conversation. #NocoLocoOps #SystemsThatFlow

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