Real Businesses Bleed Black

Real Businesses Bleed Black



Real businesses make products and sell them for a profit. They focus on customers, revenue and profitability not investors, valuations and the next fundable milestone. Real businesses prioritize their customer’s needs over their customer’s eyeballs. They have a functioning business model, not a believable financial model. Real businesses want to stay in business, not run for the exit. They create their own source of funding and don’t have to ask anyone for permission to exist. We believe real businesses make really great investments.


The founding DNA of a company is critical to its success. Early patterns and behavior shape everything that comes after. We believe that companies with a focus on making a product customers love and selling it at a profit from the very beginning have a distinct long term advantage over those who don’t. We’ll trade slower, thoughtful, compounding growth over scaling fast and failing fast every time. Scaling a business through happy customers and revenue is no harder than breaking the addiction of spending other people’s money. The freedom and benefits of that focus are manifest in every aspect of a company’s culture. Startups bleed red, real businesses bleed black.

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– Well said Bryce Roberts.   Content source: