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I 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 th
by WalterSear 8y ago
I 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.