> That’s sad to hear given as I’m looking to raise funds but also hoping to build a distributed team given the abundance of worldwide talent.
Are you looking for VC funding or angel funding?
If you have the ability to use foreign teams, you are probably better off taking angel funding and bootstrapping.
Remember, VC's want "up or out". "Cheap remote workers" isn't really relevant to that to a first approximation.
In fact, some VC's will look at it as a detriment. They wanted you to spend that couple million and succeed or go up in smoke. With cheap remote workers, you look at that couple million as 3+ years of runway for really solid organic growth.
"cheap remote workers" isn't quite the point, it's more access to talent that's not geographically next to you. I know it's not your main point but I just wanted to add this note. :) Most companies who do remote and are successful at it, don't pay a discount on employees. In fact in many cases the pay is very competitive with SF/NY standards.
Exactly why we want to do remote. I find our concept is hard to parse amongst the talent in our geographic area whereas I’ve found folks across the world who completely get it and would like to help.
At the moment, embedded myself into an incubator. Haven’t really found any angel investors who would be willing to give us some runway as I don’t think many here get what we do. But it is a good thought and something to consider if things don’t pan out.
Are you looking for VC funding or angel funding?
If you have the ability to use foreign teams, you are probably better off taking angel funding and bootstrapping.
Remember, VC's want "up or out". "Cheap remote workers" isn't really relevant to that to a first approximation.
In fact, some VC's will look at it as a detriment. They wanted you to spend that couple million and succeed or go up in smoke. With cheap remote workers, you look at that couple million as 3+ years of runway for really solid organic growth.