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The big question is whether the 10% that are bad and the 15% that are good are consistently bad and good. If for some companies the bad are good, and vice versa
by vannevar 8y ago
The big question is whether the 10% that are bad and the 15% that are good are consistently bad and good. If for some companies the bad are good, and vice versa, then it pretty much boils down to speed and terms. The rest is a crapshoot.
- WalterSear 8y agoI was part of a YC company that died due to our CEO following well meaning, but bad advice from VCs and advisors - it was a consumer technology play, but all the advisors had made their money opening online shopfronts. So, we burnt time trying to find consumers, and the product and service languished.
- ScottBurson 8y agoI suspect it's mostly not a matter of some VC/advisors being good and others being harmful across the board, but rather the appropriateness of a particular VC/advisor for a particular business. The Dunning-Kruger effect is probably very much in play: someone who has been successful with one kind of business may tend to overgeneralize the applicability of what they learned.
- rb808 8y agoNot only that but for large VC firms the service and advice provided will not be consistent, depends on which people you interact with and which year you're getting support.
- joewee 8y agothere are too many variables to say a vc’s advice is consistently good or bad, but I imagine those that are helpful with valuable advice will consistently be in the orbit of successful companies and entrepreneurs.