they were spending $450,000 a month on coders and they didn't even know what they were coding.

Guess what happened to that company? They raised 15 million and they sold it.

They tried to sell it to my buddy for 500 grand.

What did you learn raising capital? You raised 6 million for your company. Somebody listening

because one of the most common questions is how do I get investors? How do I raise money?

Can you speak to that and help people understand the whole process like what's your advice to

somebody who has an idea, who has a company they want to raise some money? Absolutely. Okay.

Raising money is very difficult but very necessary. I've had three companies, three tech companies

and the first one I raised no capital for and it took a long time to get to profitability.

I sold that company and used the capital to bootstrap my second company which I then

immediately spent all of my capital for and realized that I could leverage other people's money

better than using just my own. You can scale faster, you can build a team faster.

It's a lot easier when you do have capital so that's why everybody wants to raise.

When I went towards the traditional VC route, I had a lot of institutional investors that I

approached and I learned really quickly that you'll take 100 meetings and many of them will

result in more meetings and it's a very long drawn out process. It's something where you go

into it with a product or with at least a prototype. When I went in with a pitch deck,

it was one conversation. When I came in with a working prototype, it was another conversation

and it was a lot friendlier. When I had a prototype, what I learned then too is it's actually

easier to get customers and you start to go the route of really proving out your business and

you learn that you need less money than you think. Originally, I thought I might need $10

million actually only needed six and that was just an infrastructure thing. We were scaling so

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