GTM 39 | Debt Is Not a Last Resort with Michael Wallace (CEO, TIMIA Capital)

Описание: This episode features Michael Wallace, CEO of TIMIA Capital.

Founders don’t think about debt when things are going well. They think about it when urgency forces the decision. By then, optionality is gone, terms worsen, and control erodes.

In this conversation, we break down why debt fails when it is reactive and why disciplined operators use capital as a GTM lever before something breaks.

This is not a fundraising tactics conversation. It’s a system-level discussion about timing, predictability, control, and how capital fits into a scalable GTM operating system.

We discuss
0:00 Intro
1:32 Why equity signaling distorts early-stage capital decisions
2:35 The first pressure signals lenders see before things break
3:34 How urgency destroys optionality and negotiating power
5:17 When debt actually makes sense as a growth lever
6:26 What strong GTM use of proceeds looks like
7:52 Why milestones beat optimism in underwriting decisions
9:36 Why false positives are existential for lenders
10:51 Structural risk vs transitional risk
13:49 The most common red flags across otherwise solid companies
15:39 Why financial hygiene kills deals faster than weak growth
19:42 The clearest signal a company is truly in control
21:18 How predictability reshapes founder-investor relationships
22:54 Why most businesses are not venture-backed businesses
24:56 The real trade-off between capital and control
27:57 Why optionality disappears faster than founders expect
31:36 Capital as part of the GTM operating system

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Follow Michael Wallace
LinkedIn:   / michael-wallace-96759a19  
TIMIA Capital: https://www.timiacapital.com/

Follow Rick Koleta
LinkedIn:   / rickkoleta