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First of all, thank you for stopping by to reply to me. >On the other hand, when VCs leave at the first sign of trouble, why is that so terrible? I think givin
by kemonocode 9y ago
First of all, thank you for stopping by to reply to me.
>On the other hand, when VCs leave at the first sign of trouble, why is that so terrible? I think giving bad advice -- advice that a lot of founders will listen to because they often assume a VC knows what they're talking about -- is much more dangerous.
I should probably have amended that statement to "Leaving at the first sign of trouble after screwing up with your business model" instead. If it was just them walking away... well, hey, it's not so bad. A warning sign for sure, but not so bad. The problem is bad VCs are also the ones that tend not to go quietly into that good night. They make concessions, they make you commit to compromises and pretend to be one-person boards of directors.
I can understand wanting to give advice in that one field(s) they actually have experience with, but when you have someone on board who only ever had experience in banking, barking orders and attempting to change your entire workflow as a game development company, there's something that went horribly wrong, and you're in the uncomfortable decision of either rejecting that money and probably having to can your project, the very same project that might just be 6 months away to completion, or suck it up, take a deep breath and hope it won't be so bad. (Again, speaking from experience)
- lpolovets 9y agoThanks for the reply. Sorry about your experiences with VCs; they sound very painful. If you ever go the VC route again, I hope it works out better next time.