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Investors frequently look to others for votes of confidence in a potential deal, whether it's PG wanting multiple-person teams or VCs who close when other VCs t
by ndl 16y ago
Investors frequently look to others for votes of confidence in a potential deal, whether it's PG wanting multiple-person teams or VCs who close when other VCs take an interest. The "vote of no confidence" argument is for why having multiple founders is an indicator of success but does not directly imply causality.
There are plenty of actual reasons why multiple founders would be a cause of success, but they rest entirely on having the right cofounder:
* Having a cofounder keeps you committed, if your cofounder is committed.
* A startup is a ton of work. Make sure your cofounder understands this from the beginning. Especially watch out for the chicken/pig situation.
* A startup is an emotional roller coaster, so make sure you surround yourself with people who will hold you up. Actively avoid anyone who creates excess negativity or drama.
This all seems obvious now, but I made the mistake of being too careless/lax with all three of these points. The temptation is to assume that you will work things out. Trust, but verify, preferably before you put in time and money.
Now I'm a single founder. I'm looking for a cofounder but am rather picky. If I miss my chance at YC funding due to lack of partner, I have other options. If I were to rush the process and take on a bad relationship, it would probably doom the venture.