On: I have never read a business plan or balance sheet

[ganeshkrishnan]

why do you think its bullshit? for startup companies that are looking for seed investments who writes business plans?

[themanmaran → ganeshkrishnan]

The YC application is effectively a business plan.

[timcederman → themanmaran]

I can assure you it is not anything like an actual business plan.

[raverbashing → themanmaran]

Oh is it?

Give it to an MBA to evaluate and they will come right back complaining about it. Guaranteed. And asking for a formal business plan with a detailed financial planning.

So, yes, in practice for someone who are familiar with startups it is a business plan. For everybody else it's just a generic description.

[mhh__ → ganeshkrishnan]

I think it's pretty unlikely he never done either, let's be real.