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I worked in VC, and since then started two startups. After my last company, I had the opportunity to join VC again at a partner level, but I actually think bein
by propter_hoc 7y ago
I worked in VC, and since then started two startups. After my last company, I had the opportunity to join VC again at a partner level, but I actually think being a VC partner is a fairly awful job. You are basically a deals guy: you need to be networking constantly, trying to stay on top of the latest trends, cozying up to founders that seem to be doing well and building your own brand obsessively. It's like being an A&R man for a record label, or a real estate promoter.
Success is largely luck-based and the job has very few technical requirements.
Just personally, I much prefer developing technology and running technology businesses.
I've observed that a lot of VCs want to be founders (was guilty of that myself before I started my first startup) and a lot of founders want to be VCs, but I think that's largely just a grass-is-greener mindset. Personally I'm much more temperamentally suited to be planning and executing a long development plan than trying to find hot deals.
- xiaolingxiao 7y agoFrom your experience what does "trying to stay on top of the latest trends" entails? I assume it's not just reading the news/twitter correct? How does one get primary resources (as in talking to people in the know). And how do you get in contacts with these people? Even if you come in with a big network, why would they want to divulge sensitive information?
- propter_hoc 7y agoNews, Twitter, conferences, VC advisory board members, independent consultants, university professors. Everyone likes talking to VCs and telling them what the hot tech trends are. There's also public funding sources and scientific conferences or publications that will identify upcoming technologies a couple years before they are VC-ready. Finally, "what's new and hot" is not really sensitive information. You have to get pretty deep into a company's business before you run into something that's confidential.
- acct1771 7y ago> Everyone likes talking to VCs and telling them what the hot tech trends are. Which, like every other human, means VCs need to develop "who's full of shit" skills in a big hurry.
- deleted 7y ago[deleted]
- simonebrunozzi 7y agoThis is a great insight, and I think the "grass-is-greener" effect is at play often :) Curious if your experience depends more on the specifics of the firm you were working for, or you think it applies in general.
- propter_hoc 7y agoThanks! Well, I have a lot of VC friends, and it seems to apply to them as well.
- ganeshkrishnan 7y ago>I've observed that a lot of VCs want to be founders (was guilty of that myself before I started my first startup) and a lot of founders want to be VCs, Is this a silicon valley thing? Most of the VCs I have met are as far removed from tech as possible.