Added Funding Risk

docs/risks/Dependency-Risks/Scarcity-Risks/Funding-Risk.md

@@ -18,12 +18,52 @@ part_of: Scarcity Risk
 
 <RiskIntro fm={frontMatter} />
 
-![Funding Risk](/img/generated/risks/scarcity/funding-risk.svg)
+Funding risk is the chance that a person or firm won’t be get access to the money it needs when it needs it.   This could lead to cash flow problems or trouble paying its bills.
 
-On a lot of software projects you are "handed down" deadlines from above and told to deliver by a certain date or face the consequences. <!-- tweet-end --> But sometimes you're given a budget instead, which really just adds another layer of abstraction to the [Schedule Risk](/tags/Schedule-Risk).  That is, do I have enough funds to cover the team for as long as I need them?
+## Worked Example
+
+![Funding Risk](/img/generated/risks/posters/funding-risk.svg)
+
+On a lot of software projects you are "handed down" deadlines from above and told to deliver by a certain date or face the consequences.  But sometimes you're given a budget instead, which really just adds another layer of abstraction to the [Schedule Risk](/tags/Schedule-Risk).  That is, do I have enough funds to cover the team for as long as I need them?
 
 This grants you some leeway as now you have two variables to play with: the _size_ of the team, and _how long_ you can run it for.  The larger the team, the shorter the time you can afford to pay for it.
 
-In startup circles, this "amount of time you can afford it" is called the ["Runway"](https://en.wiktionary.org/wiki/runway):  you have to get the product to "take-off" (become profitable) before the runway ends. 
+In startup circles, this "amount of time you can afford it" is called the ["Runway"](https://en.wiktionary.org/wiki/runway):  you have to get the product to "take-off" (become profitable) before the runway ends.
+
+In the above diagram, your startup is constrained in this way and wants to maximise its available runway.  Startups often spend a lot of time courting investors in order to get funding and mitigate this type of [Funding Risk](/tags/Funding-Risk). The problem with this is that when the founders' focus changes to raising funds, they can no longer be focused on _building the right product_ (i.e. [Feature Fit Risk](tags/Feature-Fit-Risk)) building it quickly ([Schedule Risk](/tags/Schedule-Risk)) and doing so before the market for the product changes ([Market Risk](/tags/Market-Risk)).
+
+## Example Threats
+
+### 1. Threat From the Funder
+
+**Threat**: The entity supplying the funds changes their mind, creating a funding gap.
+
+**Threat**: The entity supplying the funds can't afford to continue funding, perhaps due to liquidity issues or bankruptcy.  
+
+**See** [Credit Risk](https://en.wikipedia.org/wiki/Credit_risk)
+
+### 2.  Threats From The Capital Markets
+
+**Threat**:  The market changes in some way (perhaps interest rates, a stock crash, exchange rates) which affect the source of funding.
+
+**See** [Market Risk](tags/Market-Risk)
+
+### 3.  Threats From Demand
+
+**Threat**:  The reason for giving the funding changes - perhaps the sector is less attractive to investors or there is new, stiff competition.
+
+### 4.  Global Issues
+
+**Threat**: Regulatory, legal or geo-political changes make it impossible for funding to continue.
+
+:::tip Anecdote Corner
+
+Boo.com was launched in 1999 as an online fashion brand, hoping to revolutionise the experience of online, interactive shopping.  It arrived in a blaze of glory, spending $135 million dollars on marketing - made available to it because at the time the dot-com bubble was in full swing.  
+
+Although there were both technology issues and operational problems, the overall approach of the company had been to spend lavishly from their enormous initial funding budget: getting a global fashion brand to market quickly (in order to capture the emerging online fashion sales market) was seen to be the biggest risk.
+
+However, by April of 2000, the dot.com bubble had popped, leaving investors questioning why they had invested so much into boo.com in the first place and refusing to invest further.  
+
+On May 18th 2000, boo.com filed for bankruptcy, unable to pay its marketing, wage and technology bills, well before the site was profitable.  
 
-Startups often spend a lot of time courting investors in order to get funding and mitigate this type of [Schedule Risk](/tags/Schedule-Risk).<!-- tweet-end -->  But, as shown in the diagram above, this activity usually comes at the expense of [Feature Risk](/tags/Feature-Risk), as usually the same people are diverted into raise funds instead of building the project itself.  
+:::

src/images/generated/risks/posters/funding-risk.adl

@@ -0,0 +1,35 @@
+<diagram
+	xslt:template="/public/templates/risk-first/risk-first-template.xsl"
+	xmlns="http://www.kite9.org/schema/adl"
+	xmlns:xslt="http://www.kite9.org/schema/xslt" id="dia"
+    style="--kite9-min-width: 900pt; ">
+      <container bordered="true"
+               id="c"
+               style="--kite9-layout: right; --kite9-horizontal-align: center; --kite9-sizing: minimize; ">
+         <mitigated>
+            <risk class="funding" style="--kite9-vertical-align: top; "/>
+         </mitigated>
+         <label id="id_16">
+            Your startup has a limited runway and looks like
+            it might not achieve profitability with the 
+            funds it has available.
+            <symbols/>
+         </label>
+      </container>
+      <group style="--kite9-layout: down; --kite9-horizontal-align: left; ">
+         <action>Raise Funds</action>
+      </group>
+      <container bordered="true"
+               id="c-kg"
+               style="--kite9-layout: right; --kite9-horizontal-align: center; --kite9-sizing: minimize; ">
+         <risk class="schedule"/>
+         <risk class="market"/>
+         <risk class="feature-fit"/>
+         <label id="id_16-km">
+           But raising funds diverts attention away
+           from the important business of getting the
+           right product to market on time.
+            <symbols/>
+         </label>
+      </container>
+   </diagram>