In early October, I found in my mailbox two emails from investors who told me, in the uniquely American art of communication, that they were Tunisia Phone Number List interested in my project but needed to extend their investment decision indefinitely. Subsequently, the third investment institution located in Asia also recovered its investment commitment Tunisia Phone Number List by compensating for liquidated damages. We quickly convened a board meeting and invited a well-known investor at the time to brief us on Silicon Valley. Who knows what the first sentence thrown out by this investor is: "Who is your Dad"? The second page says, "Cash is your Dad!" He said, how much cash do you have in your pocket now? Only cash can save you.
If you want to survive, you can only rely on yourself. How much money do we have in our pockets? I rushed back to ask our CFO. He said: "Bill, if we look optimistically, we have about four months to live. Pessimistically, if we burn at the rate Tunisia Phone Number List we are burning today, we can only burn more than two months." My heart hit rock bottom all of a sudden, I really felt as if everything was bleak, and I started to feel hesitant and Tunisia Phone Number List nervous. Going back to three or four years ago, we were still crowned as heaven's favorites, and we were flying high, but the market changed our situation in an instant. Before that, investors said that as long as the user scale is enlarged, it is enough to maintain the market leadership.
But since that day, investors have turned, first of all, they have stopped investing, and then their views on the company have also changed. We Tunisia Phone Number List held meetings overnight and made decisions one by one. I suspended my salary and hoped that the management team would take the initiative to reduce salary. We even had to make some layoffs. Investors and the board told me at the time that it was time to be a good CEO. Because Tunisia Phone Number List there is a saying: a CEO who has not laid off employees is not a good CEO. This business decision is easier said than done . I was hesitant at first. Instead of one step, I made two layoffs in two months. As a result, the morale of the company became worse, and employees were questioning: Are you a successful leader?