[kmontrose]

At Stack Overflow we ran on Bizpark til sometime in 2012, it really is a very nice program (everyone seems to forget that you keep the licenses you get, it's not like you have to re-buy everything when you graduate).

While I suppose in theory Joel could have thrown a lot of money away just because it didn't happen that way. Stack Overflow was running on it's own income until the first round of funding ( http://blog.stackoverflow.com/2010/05/announcing-our-series-... ), excepting the pre-launch period (everyone might have just taken equity then, I don't know I wasn't around until just before the series A). I think it was mostly ad income, though Careers ( http://careers.stackoverflow.com/ ) was around fairly early too.

Disclaimer: Stack Exchange employee

[cookiecaper]

No matter how disciplined Spolsky was with the funds, nothing's ever the same if you know that you have the option to just inject a bunch of money into one of your projects should the need arise (and of course, SO had another non-cash leg up: the blogs of Jeff Atwood and Joel Spolsky as major marketing avenues, i.e., the instant attention of large swaths of the developer workforce). If you don't have that option, regardless of if it's used or not, you play by different rules.

Stack Exchange is cool and everything, but it didn't have the same difficulties that face most bootstrapped startups.