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I don't mean this as an attack on the author, it's clear he is smart and trying to be helpful, thoughtful and kind in writing this advice. But I see this type
by qwrusz 10y ago
I don't mean this as an attack on the author, it's clear he is smart and trying to be helpful, thoughtful and kind in writing this advice.
But I see this type of sweet/safe/simple advice post so often on many sites. The tone reads like how one would talk to a child while trying to be careful not to hurt their feelings or confuse them.
I realize many founders are young with limited experience, maybe even still in school. And there's no reason to be rude about things. But who is the audience for these types of advice posts with this level of handholding?...
Are there would-be founders out there pretty much ready to be in charge of millions of dollars of other people's money, ready to hire strangers, ready to figure out finding/keeping customers, ready to stave off ruthless competitors, but don't yet know that many things in life and in business can be complex and are not predictable and they need this explained??
Also I am quite sure one can explain life and business are complex and not predictable - and so obviously a single metric like $1mm ARR doesn't guarantee funding or anything - without having to borrow (the much more confusing topic) of parametric insurance as part of the explanation...
For a VC screening, if a founder needs such simple, obvious advice and handholding, doesn't that speak to bigger issues?
Again, really really appreciate when VCs share their knowledge and experience, just sometimes when I see the advice they do give I wonder who/how many founders are they meeting who lack such basic knowledge and common sense and need things explained like this.
- qwrusz 10y agoSide note, reply to myself, whatever this is called. I see the author was at bwater prior to YC. Bridgewater and Y Combinator appear to have very different approaches to how they train young, ambitious people doing something new, and maybe also in how they teach ppl to be able to later on teach themselves. A startup is very different from a hedge fund, but new founders and new HF employees tend to have a lot in common and there are a lot of similarities in what's asked of them. e.g. rethinking how they understand and solve problems If the author reads this I would love to read and learn more about what you've seen as pros and cons of the different approaches to training you have had experience with. Or at least the pros ;) Thanks again for all your insights.
- akharris 10y agoIn a word: yes. Creating a product, starting a company, and finding users/customers doesn't actually prepare you for raising money. That's a whole other set of skills, and it's one in which founders are at an inherent disadvantage to investors. This isn't a good/bad thing, it's just a function of investors being experts at fundraising conversations, and founders being inexperienced. Which is all to say that it wouldn't be fair be so hard on people for not knowing certain things. It isn't a reflection on overall quality and intelligence.
- deleted 10y ago[deleted]