That time my cousin asked me to fund his 'startup' and I almost said yes
4 months ago
My younger cousin called me last week. Said he has this brilliant app idea that will change how people buy secondhand clothes in Nigeria. He needs 2 million naira to start. I listened to his pitch for 45 minutes, nodding like a supportive older brother.
Then I remembered my own startup story. The one where I convinced my best friend from Akure to put his savings into a fintech for farmers. Six months later, the developer we trusted vanished with the codebase and our money. My friend doesn't call me anymore. I still owe him 800k that I'm paying in bits.
I told my cousin I can give him 50k for market research. If he can show me real data from real people, we can talk more. He hasn't called back since. Shey experience na teacher wey no dey give warning?
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