4B IPO to a New $42M Bet on Robotics
Eliot Horowitz is on his third startup. His first, ShopWiki, sold. His second, MongoDB, grew into a
4B public company. Now he's raised $42M for Viam, a new robotics venture. Most founders would kill for one of those outcomes.
When you're on your third major venture, the "startup" part gets easier. Not the core challenge of building something people want, but the mechanics of running the business. You've already built the playbooks for hiring, running meetings, and setting goals. These tasks, which consume a first-time founder's every waking hour, become second nature. You don't waste time reinventing the wheel; you focus your energy on your unique problem.
Horowitz's journey offers a masterclass in building a generational company. Let's deconstruct the non-obvious lessons you can apply to your own startup.
The Myth of the Bad Time to Start: Launching MongoDB in 2008
MongoDB launched version 0.8 just as the 2008 Great Recession was hitting. Conventional wisdom says this is the worst possible time to start a company. The reality is more nuanced. While capital was tight, everything else was easier.
Your New Hiring Playbook
During a boom, you’re competing with Google’s salary offers and lavish perks. In a downturn, the talent market shifts dramatically in your favor.
- Access to senior talent: Layoffs at larger companies mean experienced engineers, product managers, and sales leaders suddenly become available. These are people you likely couldn't afford or attract otherwise.
- Lower salary expectations: Cash is king for a startup. In a recession, market-rate salaries drop, and candidates are often more willing to trade a portion of cash compensation for a larger equity stake. A senior engineer who might cost
50k in a hot market could be a hire at
90k plus equity.
Mission-driven filtering: When jobs are plentiful, candidates optimize for compensation. When they are scarce, the people joining your risky, unknown venture are the true believers who are passionate about the problem you're solving. The Recession Sales Pitch
MongoDB wasn't selling a "nice-to-have" growth tool; it was selling efficiency and cost savings. Their customers—developers—were hungry for ways to build faster and cheaper. This is the single most powerful sales angle in a recession.
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