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This is such an objectionable attitude and more or less nakedly entrenches existing privilege and social structure. For all those founders out there, just keep
by threedots 7y ago
This is such an objectionable attitude and more or less nakedly entrenches existing privilege and social structure.
For all those founders out there, just keep grinding and ignore self serving VC nonsense: good businesses are a heck of a lot rarer than people with money and if you've got one they'll swarm to you like rats to a sewer and then you can pick whichever one you like or none.
- rriepe 7y agoThe post was asking how to find investors, not how you would do it in some ideal world. If you don't want to be disappointed by the wizard, don't look behind the curtain.
- threedots 7y agoDon't believe the hype. VCs pretend you need to work and angle your way into meeting them and it's just a lie in my experience. I (founder of pretty modest start up) get unsolicited emails from VCs literally almost every day - many of whom unironically insist on warm intros themselves. VCs want you to believe this narrative because it means you start from a much weaker negotiating position and it restricts deal flow to entrenched firms.
- eaenki 7y agoThis hasn’t been the case in my experience. I previously started a company in crypto in early 2017(so as hot as it gets), gained traction, and received literally just one organic VC inquiry. Ditto with my current insurtech company. I’m curious, how do they find you? I would imagine something like that would happen if some other prestigious firm invested previously and it shows up on crunchbase
- threedots 7y agoI don't have a great answer for you. Usually they just hear about us or (less often) read about us. We do have a bit of previous so it's possible people know about us from things we've done before (though to be clear it's nothing super crazy). And while we don't spend much time with VCs, if we can possibly help it, we do spend a bunch of time with other founders, many of whom are VC funded.
- badcede 7y agoWhich VCs? Likely not very good ones.
- cle 7y agoThere's nothing wrong with looking reality square in the face. It's as unobjectionable a thing as I could imagine. There were no value judgments made, just observations. If you want to improve things (and there is much to improve), seeing things as they are is the best first step.
- kjksf 7y agoYou complain about his advice but ended up just repeating his first point: build something worth investing in. The rest is just a candid description of how the world works. There are way more people wanting VC funding that there is VC funding. That makes VCs need a filter. Points 2-4 describe how filtering works in real world.