bootstrap = on your own. That's it.
You had some seed funding.
You had some seed funding.
On your own can mean many things. I also burnt through my personal savings for the first year.
So. On your own is just “VC’ed yourself”
Taking money from TinySeed is very different than taking money from VC.
Precisely. If TinySeed has provided funds, it's no longer "VC'ed yourself", it's "VC'ed yourself + tiny seed from TinySeed".
> Taking money from TinySeed is very different than taking money from VC.
No one is arguing that TinySeed is just like any other VC. But instead that by accepting VC, you could no longer claim the business to be bootstrapped.
If family (with fuzzy conditions) ponied up $250k, is it bootstrapped?
$250k from immediate family, if said fuzzy conditions don't confer any ownership or repayment? I'd say just barely yes (it's basically a gift to you at that point, which is then your money)
$250k from a third cousin in return for equity? No.
Being bootstrapped isn't an ungameable category, but it is a fairly unambiguous one IMO.
You either take money from someone else or you bootstrap it yourself.
What if you borrow money from family in order to start your business? Are you no longer "bootstrapping"?
What is Bezos decides he's bored, and wants to start something new. Really looking forward to seeing the "most successful bootstrapper of 2030" be Jeff Bezos with his self-funded $5B "startup".
Well, yes. You're assuming the risk, not an external firm that in exchange demands a chunk of the company.
In a truly bootstrapped company the risk is yours alone as is the potential reward.