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Andy Dunn: What did you learn from your last business “near death” experience?

“So death for a human is running out of heartbeats. For a company it’s running out of cashflow. What happened to Bonobos is we got down to about $150,000 of cash in the bank in July 2008 which was 2-3 months of runway. What I learned is that the next time people are lining up to give you capital, take it. You’ll raise a much large second round. And what I’ve learned from that experience is you can’t plan for what you don’t know is coming. So always estimate that something is going to take twice as long as you think can cost three times as much.” — Andy Dunn

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