By Larry Chiang
Abandonment. This is a problem in the startup community. PG speaks to this in his essay default alive or default dead.
But we do not call the problem what the #cs183abc pattern for what it is. “Assignment for Benefit of Creditors” = the pattern.
I’ll save you from the reams of legal paper work, #cs183abc takes to read. So, let us attack understanding startup bankruptcy like it’s a ruined silk blouse at a sxsw VIP reception.
 |
Irina Litchfield (@IrinaLitchfield) |
|
@LarryChiang saved me from horrible stain situation. Some sauce dropped on my silk blouse #duckBk appeared with magical solution.
|
|
 |
Larry Chiang (@LarryChiang) |
|
We need more than 2-steps, @IrinaLitchfield #finTech #duckBk #sxsw
#First17steps pic.twitter.com/Z34SWxqSLA |
|
|
Irina Litchfield (@IrinaLitchfield) |
|
1-stain on shirt 2-terror 3- @LarryChiang rubbing something on my shirt 4-clean shirt = happy me 5-everyone is thrilled #duckBk
|
|
So like many venture capitalist explained events, it is not two steps or even five. The details matter in #duckBk. Like many VC’s who act a lot like #C3PO*, we like to add sexy details**. Let us parse out the genius board member maneuvers via “company saving protocols”***
*** #R2D2vc
* C3PO sucks. He’s tall pretty and shiny. But, utterly useless. And he is a manners protocol droid who shows up to meetings 15 minutes late, guaranteed.
Prematurely leaving a party because your silk blouse is ruined is asinine.
HOW TO CLEAN A SILK BLOUSE
-1- stay at the middle of the party.
-2- do not retreat to a bathroom for sink access
-3- bring water TO the silk blouse.
-4- encroach the blouse but ask and confirm permission.
-5- reconfirm permission as witnessed by at least 2 party attendees.
-6- gather and retain witness iPhone numbers
-7- read and guess the stain
-8- I saw it was orange cream sauce from the chicken satay on a stick.
-9- ask Courtney (waitress) for 5 dry ice cubes and a white foodservice towel
-10- DONT USE THE BLACK COCKTAIL NAPKINS because like a newbie MBA VC associate with board observer right, the black cocktail napkin will actually do more blouse damage than it will help.
-11- Spoon.
-12- I actually spooned Irina Litchfield because there was so much sauce a spoon removed 90%
-13- take the ice cubes and put them in the napkin to chill the remaining 10% satay sauce.
-14- have the silk blouse top owner hold 5-cube pack of ice.
-15- Make sure you have witnesses, because it’s about to get intimate, emotional and climactic. It’s a roller coaster ride when you’re ducking blouse loss & chargeoff because it was and is such a nice blouse.
-16- I can’t stress the witness portion enough. Stain removal requires invasive access to the entire blouse.
-17- Make sure that sweeping brush strokes never linger on any area. We are getting rid of a stain that cover sensitive areas.
-18-locate silk to wash the cold area silk on silk. I could not locate a tie (silk ties are perfect stain removers) so I just used dri-fit. I was wearing dry-fit at a fin Tech event.
-19- take a bow. The stain is gone
-20- I screamed *Ancient Chinese Secret all TemperaCHEER*
-21- all the under 30 kids just heard cheer and completely missed the dry cleaning joke advertisement reference.
21-steps
Not magic two steps
Not A, B, C
Not #CS183
#cs183b
#cs183c
21 steps.
A B C and 34 steps between a to “Z”
Bankruptcy that is premature is Asse9 too!
 |
Asse9 Austin Secret (@asse9) |
|
Screenshots @LarryChiang. BK’s are #asse9. #duckBk #sxsw
Sketch of two (2) owls credit @iamdevloper 34 #cs183s‘ = #cs183a34z @StanfordEng pic.twitter.com/OGDQjnorad |
|
Does this oversimplification seem familiar?!?
|
Larry Chiang (@LarryChiang) |
|
VC’s drop #logicBomb, a “scrap of code that triggers a malevolent event when certain events take place.” #duckBk rollingstone.com/tv/recaps/mr-r… pic.twitter.com/S5DvkLBaCt
|
|
|
Larry Chiang (@LarryChiang) |
|
Countermeasures to the accidental VC #logicBomb (that directly causes “BK”)
#duckBK Please #duck9‘s Yes @duck9 🐥🐳🐼 🐥🐳🐼 twitter.com/larrychiang/st… |
|
Download the countermeasure
|
Larry Chiang (@LarryChiang) |
|
😎
A $2-6mm line of credit (insurance policy) should 1st Republic / SVB / Square “call the debt” 👌[thus, forcing Bkdissolution] #Vdebt 🐳 twitter.com/larrychiang/st… |
|
Duck9 is a credit score prep program that is like a Kaplan or Princeton Review test preparation service. We don't teach beating the SAT, but we do get you to a higher credit FICO score using secret methods that have gotten us on TV, Congress and newspaper articles. Say hi or check out some of our free resources before you pay for a thing. You can also text the CEO:
