The Moxie Sessions: Faust-stage funding: is the devil in the dollars?
It’s almost 6pm but it’s hot in the upstairs kitchen at Auckland innovation hub GridAKL. Condensation beads on our beer bottles and sweat stains the t-shirts of the dozen or so tech types around the Moxie Sessions table. Outside, the monkeys scream and squabble, and as the ceiling fan strains to stir the syrupy air a bright green gecko stalks a spider in the highest corner of the room.
OK, I started lying from the monkeys onwards but it sure was hot.
Despite the warmth, we’d gathered in the fashionably-free-of-air-conditioning venue to point the Moxie ponder-gun in the direction of something equally hot – tech startup companies – and ask what happens when one first takes on funding. What are the downsides to the dollars? And is one dollar (or million) as good as any other?