Chris Buttenham
๐ค SpeakerAppearances Over Time
Podcast Appearances
And we hung on, we bootstrapped, we got really creative with the expenses.
So this isn't something that's foreign to us.
So me and my co-founder made the decision to not cut our employees' salaries, just our own.
So that conversation becomes a little easier to have.
But we did set the expectation with the team that if things took a turn for the worst, that that's where it would end up.
So just setting the expectations early is what we decided to do.
It's not exactly like that.
The cap table is a little messy from the early days.
Yep.
Yeah.
So, I mean, this is something, again, is like you live and you learn.
But early on, one of the reasons that we were able to sustain being alive and being scrappy was we brought people on for equity.
And for tax purposes, we brought those people on for actual founder stock, which, again, you live and you learn.
But it makes the cap table a little bit messy.
Having said that, me and my co-founder still own most of the company.
We've raised all of our money on notes to date, so we still retain control.
But I actually, I don't know if I would do it necessarily differently in terms of
sweat equity because we wouldn't have gotten here without those amazing people's help.
And we didn't have any money to pay them.
So we came from a rural place in Canada where VC isn't all that prominent and we weren't successful founders that have had big