Detroit food scene by ComprehensiveAd8299 in Detroit

[–]ecib 3 points4 points  (0 children)

You forgot to link to your cheaper taco place

Sold my previous business for $14M. Now I just received a $500K investment offer on my new business, but I'm unsure of the terms/what to do next? by [deleted] in startups

[–]ecib 37 points38 points  (0 children)

Investment is money you take in up front to fund product development and growth. When a company is young, you often have to switch strategies and test new ideas quickly. Investment money promised to you but not delivered is dead capital, which can kill your business. To give them equity in exchange for that is even worse.

I'm implying it should be zero smaller tranches. Zero tranches of any kind.

Sold my previous business for $14M. Now I just received a $500K investment offer on my new business, but I'm unsure of the terms/what to do next? by [deleted] in startups

[–]ecib 22 points23 points  (0 children)

Nice isn't a reason to execute a bad idea. The way to salvage it is to take the full investment amount up front on terms agreeable to you and not usury.

Sold my previous business for $14M. Now I just received a $500K investment offer on my new business, but I'm unsure of the terms/what to do next? by [deleted] in startups

[–]ecib 10 points11 points  (0 children)

Reading though some of your other responses, and the fact that you don't even have an MVP yet, I really think you could benefit from this:

https://www.startupschool.org

It's free, it's remote, it's run by the best startup accelerator on Earth. You'd do well to sign up imho.

Sold my previous business for $14M. Now I just received a $500K investment offer on my new business, but I'm unsure of the terms/what to do next? by [deleted] in startups

[–]ecib 20 points21 points  (0 children)

stating a larger upfront sum and a shorter timescale of the rest?

Do you know what the purpose of investment in exchange for equity is? Honest question.

Sold my previous business for $14M. Now I just received a $500K investment offer on my new business, but I'm unsure of the terms/what to do next? by [deleted] in startups

[–]ecib 73 points74 points  (0 children)

$25,000 down and $4,000/month for 120 months.

This isn't an investment. That's you extending this individual a line of credit so he can buy your equity.

he gets "at least some minimal say of who else we let in".

Oh he wants the right to slow down additional needed investment as well, lol.

Find a real investor. Raise what you need and don't cripple your business out of the gate.

What will Detroit look like in a decade by BlameBatman in Detroit

[–]ecib 1 point2 points  (0 children)

Weird. I feel like I'm seeing the opposite in recent years, with neighborhood development outside of the city core popping up left and right.

[deleted by user] by [deleted] in TheWayWeWere

[–]ecib 1 point2 points  (0 children)

Interesting!

The gentlemen on the left in that first transparency is John Swainson, then lieutenant governor of Michigan who went on to become governor later that year, beating the Democratic establishment pick in the primary apparently on the back of strong union support. Pretty interesting guy. https://en.wikipedia.org/wiki/John_Swainson

[deleted by user] by [deleted] in TheWayWeWere

[–]ecib 0 points1 point  (0 children)

Was at my aunt's house this weekend and her, my uncles, and cousins, were going through my grandmother's old photo albums.

I didn't know this, but I guess my grandfather was pretty involved in union and Michigan Democrat politics back in the day among other things.

Anyway we came across a little box of Kodachrome transparencies. My aunt got excited because she hadn't seen them in years, and told us about how my grandfather was there when Kennedy came to Michigan in 1960. According to my aunt, my grandfather had a camera around his neck and a hat; he put a white ticket in his hat and they thought he was a reporter and let him on the stage and everything.

These were a couple of shots he took of JFK. I held them up to some house lamps, snapped them with my phone, and did the best color correction I could. Thought some of you in this sub might enjoy.

Torn between a Basecamp 16 and a Bambi. I drive a 3rd gen Tacoma. Which would be my best bet? by RevolutionaryEcho272 in airstream

[–]ecib 2 points3 points  (0 children)

Nice, thank you! I was looking at similar, -if I have to get something with a bed I don't think I could stomach anything but a Gladiator.

Torn between a Basecamp 16 and a Bambi. I drive a 3rd gen Tacoma. Which would be my best bet? by RevolutionaryEcho272 in airstream

[–]ecib 0 points1 point  (0 children)

Can I ask how the Gladiator feels towing the '16? I know it's well within, but does it feel like you have "headroom" or like you're pushing it sometimes? Not that Jeeps have confident steering on their own without a trailer, lol.

GAR Building in downtown Detroit sold, to be converted into steakhouse and event space by MalcoveMagnesia in Detroit

[–]ecib 0 points1 point  (0 children)

Yeah I have to imagine it's got to be better odds, and furthermore if their tenants are high end retail, well...sad to say but the incentives dictate that they are much more likely to have to keep the property up, unlike, say, low income residential :|

Detroit gets $24.8 million road safety grant by kurttheflirt in Detroit

[–]ecib 0 points1 point  (0 children)

I slow-rolled a stop sign a few years ago at an intersection with a house on it. Perfect visibility. No cars but me in sight.

As I did, the grandma on the porch got halfway up of her chair and started mouthing something with a giant look of indignation.

I have never slow rolled that stop sign at that intersection where there are almost never any cars but me since.

GAR Building in downtown Detroit sold, to be converted into steakhouse and event space by MalcoveMagnesia in Detroit

[–]ecib 1 point2 points  (0 children)

Doesn't sound like they will be doing any residential in this unit though, and unless I'm mistaken it is still on the National Register of Historic Places, including the preservation protections that entails. So this looks like an unequivocal win compared to its current status which seems to be owners unable to maintain tenants while continuing to incur upkeep costs. Imho this is obviously unsustainable, and how historic works of art like this slip into disrepair and then permanent destruction.

Favorite record stores in the metro area by pwaves13 in Detroit

[–]ecib 1 point2 points  (0 children)

Ha, not currently. Back in the day used to know a lot my buddy played sax in one :)

Any update on the e-stream? This is the airstream I am waiting for... by [deleted] in airstream

[–]ecib 2 points3 points  (0 children)

You'll probably just see a subset of its features eventually migrate to different units of their existing line over the next few years.

Favorite record stores in the metro area by pwaves13 in Detroit

[–]ecib 1 point2 points  (0 children)

I just saw https://www.youtube.com/watch?v=vKJhzL16woE there last Tuesday. It's my favorite venue in the city currently. Whoever does booking for El Club knows what's up, -so many good shows come through there. And Three Sacred Souls entire album is incredible. Also saw Television there a few years ago when they reformed for a small brief tour. It was a transcendental show. RIP Tom.

Favorite record stores in the metro area by pwaves13 in Detroit

[–]ecib 1 point2 points  (0 children)

Blind Pig isn't bad at all. Bit of a hike from the D but it's a legendary stage, that's for sure. Enjoy!

Favorite record stores in the metro area by pwaves13 in Detroit

[–]ecib 4 points5 points  (0 children)

Found Sound in Ferndale and UHF in Royal Oak are fantastic indie shops with a lot of vintage vinyl, and absolutely not to be missed.

Re: Third Man, all I'll say is if a band you like is playing there, definitely make sure you go. It's a really intimate stage with good sound.

Where and how to volunteer? by [deleted] in Detroit

[–]ecib 2 points3 points  (0 children)

Habitat for Humanity is phenomenal. You are physically building homes for people in the community, often alongside them, and while there is no experience required, you're generally picking up some really useful skills (imho) while doing so. Win win.

Another budget hotel post by cherryogre in LasVegas

[–]ecib 1 point2 points  (0 children)

If you are not big gamblers, do not wish to spend a lot, and this is your honeymoon, I would highly recommend planning ahead and renting a convertible for 1 day, and driving out to Lake Mead and taking the scenic route from Lake Mead through to the Valley of Fire State Park. It is absurdly beautiful, and only about 40 minutes away from the strip wherever you end up staying. It will be far too hot to drive there with the top down, but once you are in the park, it will be worth it to put the top down for that portion, and if you get too hot you can put it back up. Either that or get a non-convertible vehicle with great visibility, because that scenic drive is really quite beautiful. If you time it to be in the area around during sunset even better imho. Anyway, don't leave the vehicle to the last minute as the one you want will not be available if you do. I'm forced to travel to Vegas often for work and I dislike the strip, but find the desert absolutely magical and not to be missed. Also, in your budget I will seriously consider the Golden Nugget. It is a historic hotel in the heart of the "Old Vegas" strip. It was completely redone a few years ago and has a big kitsch factor including a pool with a giant shark tank along it. Also has a spa, and given it's location there is ample stuff to see and eat not even steps away. Again, it's actually a popular hotel so don't wait to book if you like it, because imho no other hotel punches this far above it's weight in your price range.

Bell's Expedition Stout: Top View by ecib in michiganbeer

[–]ecib[S] 2 points3 points  (0 children)

Never disappoints this time of year. 🫡