According to ChainCatcher, Solana co-founder Anatoly Yakovenko shared the key points for startup survival on the X platform. 💡

He emphasized that the only reason for a startup to fail is running out of money, and avoiding running out of money can ensure the survival of the company. Yakovenko warned entrepreneurs to be highly vigilant about long-term contracts, such as long-term leases of offices or data centers, which are equivalent to debt. He suggested keeping contract expenses below 20% of total expenses, otherwise it would be very dangerous.

Yakovenko also pointed out that large teams consume funds quickly. He suggested that every employee should prove their value through profit or income. If the company has 18 months of funds in reserve, it will need to achieve profitability or refinance within 6-12 months. If it is still not profitable after 6 months, it may need to cut 33% of its expenses; after 9 months, it will need to cut 50%. Considering that contract expenses cannot be cut, this may lead to layoffs of 50% or even 70%. 🚀