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Ep 364: Funding as an Accelerator of Success with Meng Chen
Let's discuss funding as a potent accelerator of success. Elzie dives into the topic of funding for Portfolio Bay, prompting Meng Chen to share his perspective. He enlightens us on how funding can serve as an amplifier, capable of magnifying both the success and failure of a startup.
Meng unveils his current focus, which is firmly centered on product development and fostering gradual growth. At this juncture, Portfolio Bay isn't actively in pursuit of funding. Instead, Meng's strategy hinges on nurturing the product and its expansion. When momentous growth is achieved and demands additional resources, that's when the idea of seeking funding will come to the forefront.
Tune in to discover more about the pivotal role of funding in the journey of Portfolio Bay's success.
Episode Highlights:
01:07 - From my point of view, funding is kind of an amplifier on the success and the failure of a startup. So, if your startup is working and are in the right trajectory, having the funding really amplifies your success and it can make your success much bigger and it can make you go faster. But if you don't have the right idea or like there's some flaws in the business model, having the funding, it just amplifies the failure because you're going to spend the money but not getting enough traction to the next stage and get the next round of funding. And that's why startups die.
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