{"id":9751,"date":"2017-03-18T12:16:30","date_gmt":"2017-03-18T16:16:30","guid":{"rendered":"https:\/\/www.duck9.com\/?p=9751"},"modified":"2017-03-18T12:44:57","modified_gmt":"2017-03-18T16:44:57","slug":"a-ruined-silk-blouse-is-like-a-startup-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/a-ruined-silk-blouse-is-like-a-startup-bankruptcy\/","title":{"rendered":"A Ruined Silk Blouse Is Like a Startup Bankruptcy"},"content":{"rendered":"
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By Larry Chiang<\/div>\n
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Abandonment. This is a problem in the startup community. PG speaks to this in his essay default alive or default dead. <\/div>\n
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But we do not call the problem what the #cs183abc pattern for what it is. “Assignment for Benefit of Creditors” = the pattern. <\/div>\n
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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. <\/span><\/p>\n\n\n\n\n
<\/span><\/td>\nIrina Litchfield (@IrinaLitchfield<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/15\/17, 11:58 AM<\/font><\/a><\/div>\n
@LarryChiang<\/a> saved me from horrible stain situation. Some sauce dropped on my silk blouse #duckBk<\/a> appeared with magical solution.<\/span><\/font><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/15\/17, 12:05 PM<\/font><\/a><\/div>\n
We need more than 2-steps, @IrinaLitchfield<\/a> #finTech<\/a> #duckBk<\/a> #sxsw<\/a>
\n#First17steps<\/a> pic.twitter.com\/Z34SWxqSLA<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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<\/span><\/td>\nIrina Litchfield (@IrinaLitchfield<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/15\/17, 12:16 PM<\/font><\/a><\/div>\n
1-stain on shirt 2-terror 3- @LarryChiang<\/a> rubbing something on my shirt 4-clean shirt = happy me 5-everyone is thrilled #duckBk<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nSo like many venture capitalist explained events, it is not two steps or even five. The details matter in <\/span>#duckBk<\/a>. 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”***<\/font><\/p>\n<\/div>\n


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** see <\/span>IrinaLitchfield<\/a>‘s <\/b>ab comments. Very distracting.<\/span><\/div>\n

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*** #R2D2vc<\/span><\/div>\n
* 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. <\/span><\/div>\n

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Prematurely leaving a party because your silk blouse is ruined is asinine. <\/span><\/div>\n

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HOW TO CLEAN A SILK BLOUSE <\/span><\/div>\n
-1- stay at the middle of the party. <\/span><\/div>\n
-2- do not retreat to a bathroom for sink access<\/span><\/div>\n
-3- bring water TO the silk blouse.<\/span><\/div>\n
-4- encroach the blouse but ask and confirm permission.<\/span><\/div>\n
-5- reconfirm permission as witnessed by at least 2 party attendees.<\/span><\/div>\n
-6- gather and retain witness iPhone numbers<\/span><\/div>\n
-7- read and guess the stain<\/span><\/div>\n
-8- I saw it was orange cream sauce from the chicken satay on a stick. <\/span><\/div>\n
-9- ask Courtney (waitress) for 5 dry ice cubes and a white foodservice towel<\/span><\/div>\n
-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.<\/span><\/div>\n
-11- Spoon. <\/div>\n
-12- I actually spooned Irina Litchfield<\/a> <\/b>because there was so much sauce a spoon removed 90%<\/span><\/div>\n
-13- take the ice cubes and put them in the napkin to chill the remaining 10% satay sauce. <\/span><\/div>\n
-14- have the silk blouse top owner hold 5-cube pack of ice. <\/span><\/div>\n
-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. <\/span><\/div>\n
-16- I can’t stress the witness portion enough. Stain removal requires invasive access to the entire blouse.<\/span><\/div>\n
-17- Make sure that sweeping brush strokes never linger on any area. We are getting rid of a stain that cover sensitive areas. <\/span><\/div>\n
-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. <\/span><\/div>\n
-19- take a bow. The stain is gone<\/span><\/div>\n
-20- I screamed *Ancient Chinese Secret all TemperaCHEER*<\/span><\/div>\n
-21- all the under 30 kids just heard cheer and completely missed the dry cleaning joke advertisement reference. <\/span><\/div>\n

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21-steps<\/span><\/div>\n

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\"image5.JPG\"
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Not magic two steps<\/span><\/div>\n

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Not A, B, C<\/span><\/div>\n
Not #CS183<\/span><\/div>\n
#cs183b<\/span><\/div>\n
#cs183c<\/span><\/div>\n

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21 steps. <\/span><\/div>\n
\"image4.JPG\"
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A B C and 34 steps between a to “Z”<\/div>\n
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Bankruptcy that is premature is Asse9 too!<\/div>\n
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<\/span><\/td>\nAsse9 Austin Secret (@asse9<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/14\/17, 10:23 AM<\/font><\/a><\/div>\n
Screenshots @LarryChiang<\/a>. BK’s are #asse9<\/a>. #duckBk<\/a> #sxsw<\/a>
\nSketch of two (2) owls credit @iamdevloper<\/a> 
\n34 #cs183s<\/a>‘ = #cs183a34z<\/a> @StanfordEng<\/a> pic.twitter.com\/OGDQjnorad<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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Does this oversimplification seem familiar?!?<\/span><\/div>\n
\"image1.JPG\"
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<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/17\/17, 1:04 PM<\/font><\/a><\/div>\n
VC’s drop #logicBomb<\/a>, a “scrap of code that triggers a malevolent event when certain events take place.” #duckBk<\/a> rollingstone.com\/tv\/recaps\/mr-r\u2026<\/a> pic.twitter.com\/S5DvkLBaCt<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


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<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/18\/17, 8:27 AM<\/font><\/a><\/div>\n
Countermeasures to the accidental VC #logicBomb<\/a> (that directly causes “BK”)
\n#duckBK<\/a>
\nPlease #duck9<\/a>‘s
\nYes @duck9<\/a> 🐥🐳🐼
\n🐥🐳🐼 twitter.com\/larrychiang\/st\u2026<\/a><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nDownload<\/a> the countermeasure<\/span><\/p>\n\n\n\n\n
<\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
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3\/18\/17, 8:31 AM<\/a><\/div>\n
😎
\nA $2-6mm line of credit (insurance policy) should 1st Republic \/ SVB \/ Square “call the debt” 👌[thus, forcing Bkdissolution] #Vdebt<\/a>
\n🐳 twitter.com\/larrychiang\/st\u2026<\/span><\/a><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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https:\/\/www.youtube.com\/watch?v=eudADPfTWiE&sns=em<\/a><\/span><\/div>\n

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https:\/\/www.youtube.com\/watch?v=WVKHwYJzVVc&sns=em<\/a><\/span><\/div>\n

\n<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-9751","post","type-post","status-publish","format-standard","hentry","category-duck-chapter-9-startup-bankruptcy"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/9751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=9751"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/9751\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=9751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=9751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=9751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}