If you are an early stage startup with a shaky business model and are still pivoting rapidly you just shot yourself in the foot by internationalizing. You know that quick feature you just hacked together in an afternoon? Now you need to design it first with localized text in mind, then have it translated, then run it through QA because you don't speak the language, finally deploy it where you have new caching and scalability aspects to consider. It's not far off to consider an order of magnitude slower, especially if your translators are across the pond and turnaround is now a 12-hour minimum.
Consider the startup that has users and is starting to gain some traction. Suppose your team is <10 and revenue is covering 50% of your costs, you feel like you are about to break out. If you decide to i18n to 7 European languages at that point what can you expect? Well, I don't think it's unreasonable to expect double your revenue, but you should also expect your costs to double as well, between all the translating work, multilingual support costs, increased code complexity, legal costs, and all the nitty gritty details that are going to bite you. Plus now you are slower, so you've just pushed yourself further from profitability.
If you are small, it's much cheaper to double your revenue in your local market rather than expanding. Once you get big and your code fits the business model, then suddenly i18n becomes much more of a fixed cost, and a smaller percentage of your overall cost as well.