Find XO: 290 Million Units Sold Without VC: Lessons from PopSocket (techcrunch.com)

- PopSocket started its business using a fire insurance payout as initial capital. - Although it grew without external investment, the key lesson lies not in the source of funds but in how demand was verified while managing inventory and margins. - It's important to first assess whether producing a small batch of the first product can still yield profit. If that condition isn't met, trying to protect equity could leave the founder solely burdened with inventory risk.