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That's very interesting, thanks. That makes sense, you want to make your startup look as good as possible, and it's up to you to sell yourself to an investor.
by nathan_f77 10y ago
That's very interesting, thanks.
That makes sense, you want to make your startup look as good as possible, and it's up to you to sell yourself to an investor.
At the same time, I wouldn't want to do something that might appear deceptive. During my time with startups and meeting lots of people, I've noticed a certain "spin" culture, which some might be confusing with "hustle". It's not hustle if you're trying to deceive an investor to get them to give you money, with the knowledge that your KPIs are about to drop and they're going to be disappointed in 2 months. I'd rather just be honest and straightforward.
- lpolovets 10y agoI agree with you -- I am very much against deception, too. In this case, I think it's more like Schrödinger's box. If someone is pitching me in December, they can make a case that their current uptick in revenue is sustainable. Without the option to wait a few months, I have to decide if I believe those claims. The claims might be spin, but usually they're honest beliefs backed by a small amount of data. But once Jan and Feb KPIs come in, the data shows if the uptick will actually be sustainable. It's like opening Schrödinger's box and finding out whether the cat is alive. Now it doesn't matter what the founder believes or hopes because I'll be looking at the data -- and often the data isn't perfect, which hurts the ability to fundraise.