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This is a great question. We take companies at all different stages, from ideas through those who are already in market with customers. The "right stage" is mo
by akharris 10y ago
This is a great question. We take companies at all different stages, from ideas through those who are already in market with customers.
The "right stage" is more a question of how long you've been working than an absolute state. The more you can get done in a given amount of time, the better.
- Alex3917 10y ago> The more you can get done in a given amount of time, the better. Time meaning calendar days or person hours? E.g. if you're comparing a two cofounder startup with a three cofounder startup, where they've each been working full time for a year, do you care more about absolute progress after a year or about progress normalized to the number of person hours? Obviously after you invest the main metric that matters is progress per calendar day, since that's what affects your IRR. But if a startup hasn't taken external funding then there is a more interesting discussion to be had about the relative meaningfulness of each, how their importance might be shifting over time, etc.
- akharris 10y agoWe don't have an exact formula. When I look at an application, I try to figure out how much time is being spent on the co and work off of that. Obviously it's different for full time vs. part time and many vs. few. However, if an idea has been sitting around in halfway space for years, I'm going to want to know why.
- ikeboy 10y agoIs running another profitable business, plus college a good reason for not actively working on the idea?