Season reports
The Founder Runway blog is a short decision terminal explaining which move burns what in runway, PMF, growth, and exit moments.
Featured decision
Read the 7 early-stage decisions that look harmless but drain cash, team focus, and investor trust at the same time.
Decision Room
Season signal
Risk is risingDecision rooms
Tycoon and simulation games for founders — and how to actually learn from them.
10 posts
Cash, burn, and survival reflexes.
9 posts
Customer signals and product focus.
4 posts
Equity, fundraising, and founder control decisions.
8 posts
Energy, focus, and resilience under hard decisions.
1 posts
Reading options early and staying at the table.
2 posts
Sales cycles and runway in vertical markets.
1 posts
Regulation and hospital sales cycles.
1 posts
Seasonality and institutional sales decisions.
1 posts
Trust, compliance, and financial product growth.
1 posts
Notes from the market
What did this move burn?
Acquisition, acquihire, IPO, and secondary sale get treated like synonyms for the same event, but each one pays out differently, arrives at a different stage, and rewards a different kind of company — here's what actually separates the main startup exit types.
What did this move burn?
EdTech startup runway doesn't burn in a straight line — academic-year seasonality and single-window school procurement cycles create cash gaps a flat burn model can't see.
What did this move burn?
"Business sim" is a shelf, not a genre: management sims, economy sims, founder sims and idle games all live there. Here's what each one actually models, how to spot a sim that teaches you something, and which free browser options are worth a session.
What did this move burn?
A turn-by-turn strategy guide for founder tycoon runs: how to read your opening position, what to spend the first five turns on, when to raise, and the five mistakes that end most runs before turn twelve.
What did this move burn?
A practical guide for teachers and workshop leads: what makes a business simulation classroom-ready, a 45-minute run of show, the debrief questions that turn a game into a lesson, and how to run it with teams.
What did this move burn?
Idle and incremental business games simulate the feeling of growth. Decision-based startup games simulate its cost. Both are legitimate — here's how they differ, what each one gives you, and how to pick by mood.
What did this move burn?
PMF is the point where your product meets real, repeating market demand. The definition, four measurable signals, the Sean Ellis test, and the false positives that fool founders.
What did this move burn?
Churn rate, retention curves, and NRR: the formulas, B2B SaaS benchmarks, and exactly how churn shortens your runway — with worked numbers.
What did this move burn?
Founder tycoon, business tycoon, multiplayer tycoon, and vibe-coding tycoon are four different games hiding under one word. Here's what separates them — and which one actually teaches you to build a company.
What did this move burn?
Vibe coding made shipping software almost free — so the founder's job moved from building to deciding. Here's the 'vibe-coding tycoon' mindset, and why runway, focus, and PMF still decide who survives.
What did this move burn?
A plain-language startup glossary: runway, burn rate, burn multiple, SAFE, dilution, PMF, ARR, CAC and 35+ terms defined in one or two citable sentences each.
What did this move burn?
Burn multiple explained: the formula (net burn ÷ net new ARR), David Sacks' benchmark scale, worked examples, and practical ways to improve capital efficiency.
What did this move burn?
Seed vs Series A compared: round sizes, what each round proves, the metrics A investors expect, dilution math, and a readiness checklist for the jump.
What did this move burn?
The best startup and business simulation games in 2026 — free browser games, Steam classics, and educational picks — compared by what they actually teach founders.
What did this move burn?
You can run your own company in a game today, free, in the browser. Here's how to pick the right one and make your first decisions like a founder instead of a tourist.
What did this move burn?
How to calculate cash burn straight from your bank balance: the period formula, 3-month averages, handling one-off expenses, and how cash burn drives runway.
What did this move burn?
The short answer is 18–24 months after a round — but the right number depends on stage, market, and your next milestone. Benchmarks and alarm thresholds explained.
What did this move burn?
What a startup founder simulation is, which decisions it lets you practice — fundraising, hiring, runway, PMF — and why simulated reps beat theory alone.
What did this move burn?
Learn how to calculate runway step by step: the formula, worked examples, healthy benchmarks, and a free runway calculator.
What did this move burn?
How to calculate burn rate step by step: the gross vs net burn formula, worked examples, and the benchmarks that show whether your burn is healthy.
What did this move burn?
Pre-seed vs seed funding compared: typical round sizes, valuations, investor expectations, SAFE vs priced rounds, and a checklist to know which round you're ready for.
What did this move burn?
Which founder skills entrepreneurship games actually teach, where simulations fall short, and how to use them the right way.
What did this move burn?
Read the 7 early-stage decisions that look harmless but drain cash, team focus, and investor trust at the same time.
What did this move burn?
Avoid false PMF signals by reading retention, repeat usage, and willingness to pay together.
What did this move burn?
Weigh bootstrap against seed funding by reading speed, control, and the cost of learning in one table.
What did this move burn?
Read how early investment terms affect founder motivation, control, and investor trust in the next round.
What did this move burn?
Read the discounts that a scattered roadmap, weak metrics, and the wrong customer mix create at the acquisition table.
What did this move burn?
Manage founder energy like a metric to produce better decision quality, not just more work.
What did this move burn?
Plan the impact of pilots, trust, decision timelines, and collection periods on your runway in public-sector sales with simulation logic.
What did this move burn?
Startup dilution explained with the formula, a three-round worked example, and the option pool trap that costs founders more than they expect.
What did this move burn?
50/50 or not? The factors that decide a co-founder equity split, why vesting and a cliff are non-negotiable, and how the split compounds with dilution across rounds.
What did this move burn?
How a SAFE works: valuation cap, discount, the post-money vs pre-money difference, and the dilution surprise SAFEs create when they convert at a priced round.
What did this move burn?
Pre-money vs. post-money valuation explained with the formula, a worked example, and how investors actually price a Pre-Seed or Seed funding round.
What did this move burn?
Default alive means your current growth and burn reach profitability before cash runs out. Learn the formula, sector nuances, and the mistake founders make.
What did this move burn?
The LTV:CAC ratio in plain formulas: how to calculate CAC and LTV, healthy benchmarks by stage, and why payback period matters more than the ratio.
What did this move burn?
The option pool shuffle quietly cuts your real valuation before a term sheet is even signed. Here's the math, a worked example, and how to negotiate it.
What did this move burn?
Fintech startups burn runway faster than a standard SaaS model predicts — KYC, licensing, and chargeback reserves are the costs nobody forecasts.
What did this move burn?
Health-Tech runway burns faster than SaaS models predict — FDA/CE clearance, HIPAA compliance, and payer reimbursement delays eat months nobody budgets for.