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> If you need to meet with 100 investors to raise money you are promoting a shitty deal and you shouldn't be investing your personal time in it. Where do you g
by morgante 10y ago
> If you need to meet with 100 investors to raise money you are promoting a shitty deal and you shouldn't be investing your personal time in it.
Where do you get that from?
Many very successful companies had a very hard time raising money at some point. That certainly didn't make them into a "shitty deal."
In fact, Fred Wilson just wrote an article about how hard it was for them to raise their first fund at USV—and that fund ended up doing spectacularly well. [0]
[0] http://avc.com/2016/10/the-hard-raise/ http://avc.com/2016/10/the-hard-raise/
- paulsutter 10y agoWell its right there in Fred's article: > we have seen founders and CEOs get rejected by more than fifty investors during that process. He mentions 50 rejections as an outlier. He's not saying that's the norm, he's saying thats how bad it can get for companies in his portfolio that do raise money. Nor is he saying those are his best performers. In fact, he's saying they need to change their company to raise money. Which is to say, that they started out pitching a shitty deal and had to improve it: > As these expansion stage companies struggle to raise capital, they are forced into a cathartic (and at times painful) process of self reflection... And as a result, these companies are coming out of these hard raises with better businesses, better operating models (lower burn rates!!), and bigger visions to go execute against