Furniture or Booze? How Startups Spend Their Money

Photograph courtesy Fracture

Alex Theodore, co-founder of Fracture, a photo-printing startup based in Gainesville, Fla., once dreamed of furnishing his new headquarters with the kind of chic décor that fills gleaming Silicon Valley offices such as those of Google and Facebook. After glancing at his books, he went dumpster diving. “I don’t like spending money, and if it was between [research and development] and having nice, fancy desks, it was R&D,” says Theodore. He opted to prop his desk on cinder blocks. One colleague began using a plastic lawn chair.

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