Burn Rate

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In the 1990s, launching an Internet business was a thrilling path to rapid wealth for risk-takers. The fast-paced economy allowed ideas to transform overnight into significant market value, but for entrepreneurs, the pressure was immense as cash dwindled and the odds of success diminished. Michael Wolff, a pioneer in new media, experienced this firsthand while building his own company. His journey captures the essence of entrepreneurship during a transformative era, marked by the founding of Wired magazine, the launch of Time Warner's Pathfinder, and the rivalry between East Coast content and West Coast technology. As the Internet landscape evolved, the financial viability of new ventures fluctuated dramatically, exemplified when Wired failed to launch its stock, triggering a crisis for many startups. Wolff found himself in a precarious position with his company’s future hanging by a thread. With a ticking clock and dwindling resources, he had to secure a crucial deal. Through sharp wit, Wolff illustrates the harsh realities of capitalism, where venture capitalists, while offering support, often prioritize their own profits over the entrepreneur's interests. Along his journey, he encounters a colorful cast of characters, from visionaries to investors, revealing the complexities of building and sustaining a business in an unpredictable environment. Ultimately, he learns that his creativity and hard work may only grant him a sma