I work for a startup called Kynetx, among people with great vision and detirmination to realize that vision.
This past week, we’ve made the difficult but powerful decision to change our sails. Since the company was started, we’ve been running with our spinnaker out, running with the wind of private and strategic investment filling our sails. Doing this has allowed us to develop powerful technology with a crew unmatched anywhere. During the process of securing additional investment and funding to keep our spinnaker full, we've discovered that the wind of funding isn't headed where we want to go.
[picture by Mike Grace]
This last week, we changed our point of sail and are now reaching to our ultimate destination. We’ve made this change by shifting to a revenue funded model, allowing us to drive in the direction we feel most important. This change has brought about the unfortunate but necessary reduction of staff to match our revenue levels.
In large companies, it is common to end up with a portion of staff that is ‘good enough’ for the job. When times get tight, these people are the first to go, as the value they add to the company is minimal. At Kynetx, we had no staff that were simply ‘good enough’ for the job, and had to let these amazing people go. This step was a painful, but necessary part of securing our future direction.
Our direction isn’t new. Our decision to change our sails was, in fact, to secure the direction that we are heading. Our platform will continue to head in the direction we set long ago, and continue to provide a powerful, evented platform for creating experiences that expand across the web. You’ll be excited with the announcements you’ll hear about in the next few weeks, and the continued expansion of our platform.
In addition to keeping the direction we want, this move also makes the future of the c
ompany more stable. We are free to choose partners that more closely align with our goals instead of companies most willing to give us money.
This experience has been an amazing one. The Kynetx crew has been amazing to work with, and having to watch staff get let go was no exception. EVERY PERSON in the company, laid off and not, was disappointed that we had to shrink the team, but excited for the path Kynetx was taking, sure of it’s future, and grateful to be a part of the experience and the team that created it. Not one employee got angry and stormed out. This is a testament both to the quality of people in our team, and the wisdom and experience of our leaders. For more perspectives, read posts by Mike Farmer, Wade Billings, and Mike Grace.
What can you expect from Kynetx? Continued dedication to our vision, laser focus on our goals, and the advancement of the most powerful evented engine that exists today. If you have questions about Kynetx, let me know via email, twitter, or Kynetx Office Hours.