We’ve recently spent a lot of time on the blog examining 2016 in Southern startups – both highlights and some deeper dives into emerging ecosystems. However, we’re several weeks into 2017, and it’s time to talk about what the future holds for Southeastern tech.
Focusing on what matters for your users
Opportunity cost is the inevitable truth that no matter what you do, you’re foregoing your ability to do the next best thing. Software development follows that truth in a big way; if you have two issues in your software but only have the resources to address one, the other is going to get put in the backlog.
Limited Pixels, Endless Decisions
Think about the mobile apps you use the most - those little buttons that you find yourself pressing the moment you unlock your phone. Odds are that you can tell me exactly, down to the accent colors, what their icons look like.
“If Wall Street is the best money can buy, we’re the best money can’t buy.” – Jason Wu, 2015 Venture for America Fellow
Gather 'round and let's talk talent.
Growing a team is simultaneously very difficult and very important. Hiring the right employees can chart a company’s course to future success or doom it to early implosion. Complicating this factor is the fact that very few entrepreneurs have an extensive background in human resources. The result: panicked absorption of industry wisdom, endless coffee-shop interviews, and probably a decent amount of cold sweat.
The Southeast is Starting Up. And Specializing.
Founders in the Southeast can be forgiven for occasionally feeling like the forgotten children of the tech world. After all, they’re hustling, they’re innovating, but their startup grind is taking place in ecosystems that fly well under the radar of media, investors, and other entrepreneurs.
We'll always remember 2016 as the year of Pokemon Go, the Cubs World Series, and the wackiest ever presidential election. But how did the Southern startup community fare in 2016? We've put together a quick recap of the highs and lows from the past year.
Previously we walked through dilution with a simple cap table. Simple in this case means that every round on the table is an up round, and it ignores ESOPs, discounts, warrants, valuations, and multiple terms that can be set in an investment.
Every piece of software needs maintenance. Plain and simple.
The more complex the software, the more maintenance it will likely need to ensure continued use. The obvious questions are why and how much. This varies and is a bit of a loaded question because every software product is different. It's possible to minimize maintenance costs through intelligent planning and execution, but it's also possible to wind up paying more to maintain your product than it did to develop it if you’re not careful.
Let’s talk dilution – financial, not chemical. In finance, dilution is the decrease in percent equity held by investors’ shares by the addition of a new investment.
For each round of funding a startup takes on, the available number of shares increases. Therefore, while the number of shares held by a given person or party remains the same, the total number of shares outstanding increases, which shifts the percentage of equity held.
As a young girl, Ada Lovelace dreamt of flying.
While her physical ailments at the time kept her largely indoors, her agile mind gave her the freedom to go “about the project methodically, thoughtfully, with imagination and passion.” She proceeded to put together plans for a steam-powered flying machine fifteen years before one would be patented. Already an innovator at age twelve, Ada Lovelace would go on to become widely recognized as the world's first computer programmer.