@serapath @bananas That particular definition doesn't seem very workable to me, because then you end up in endless debate about whether something "has a business model" or not, and the distinction as defined there only really matters to VCs anyway.
Because a startup finding a business model doesn't actually make it any less toxic or unsustainable, it's always trying to achieve impossible ROIs either way.
@joepie91 @bananas
hm...i mean.yeah.
Steve Blank, an entrepreneur who started the "lean startup movement" defines it like that.
once you manage to sell stuff repeatedly and consistently to a target audience and can now pour in money into marketing to scale, then it stops being a startup ...until you are still pivoting... developing and finding "product market fit" ... he considers it a startup.
anyway, i wish there was a specific term for bootstrapping sustainable open source software 🙂
@joepie91 @bananas
fair enough.
some popular definition is also: startup is when there is no eorking business model yet and ppl pivot and pivot and pivot until they found the business model, which is when its stops being a startup.
i guess under this definition, startups is also what is covered by bootstrapped companies.
I'd love to have a new term for anything that is bootstrapped and is open source too.
imho bitcoin is that. web3 isnt.
...but thats just a random unrelated thought 😅