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Sorry for the terse reply. I only have time for a short reply. There are two ways of thinking about a problem. And they both are important: 1) Why wouldn't th
by dlo 10y ago
Sorry for the terse reply. I only have time for a short reply.
There are two ways of thinking about a problem. And they both are important:
1) Why wouldn't this work?
2) How can we make it work?
When you get funding, it's mostly about 1 and not so much about 2.
I am not sure that Instagram would have survived receiving funding.
https://backchannel.com/why-instagram-worked-45dbfeaa37c8#.1yzo3ceql https://backchannel.com/why-instagram-worked-45dbfeaa37c8#.1...
Another aspect of it that I don't really want to go into right now... when an outsider looks at your company, they don't really understand what's going on. But they do have a bunch of rules of thumb that they like. They may or may not apply to your company. But in their minds, you're a bad company if you do not adhere to them.
VCs admit to thinking this way. They call it "pattern matching."
- dlo 10y agoActually, it is not true that Instagram had not received funding at the time the story took place. I am referring more to typical pressures, some of which founders place on themselves.
- the_watcher 10y agoInstagram was VC-backed, raising nearly $60M. https://www.crunchbase.com/organization/instagram#/entity https://www.crunchbase.com/organization/instagram#/entity
- dlo 10y agoYeah. Agreed. In case you missed it, I retracted my statement in a follow-up reply. Some modification to my earlier statement is accurate. :-) Unfortunately, I don't have time right now to iterate on it. If you're interested, you'll have to discover it yourself.