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In the venture community today, we reward “visionaries” much more than executors. And a big reason for this is that we make investment decisions based on pitche
by ilamont 6y ago
In the venture community today, we reward “visionaries” much more than executors. And a big reason for this is that we make investment decisions based on pitches rather than on execution (aka working) in our decision-making.
Another reason is everyone wants to back the next Steve Jobs, and if you don't have those Jobsian traits, you fail the investor pattern-matching test.
Some startup CEOs know this, and have really perfected the VC signaling down to choices of clothing, speaking styles, and shitty treatment of (some) employees.
I heard something similar from an older advisor at the MIT Venture Mentoring Service. He said something to the effect of, "if you're not raring to go" and "your board has to practically hold you back" then investors wouldn't fund you. He was probably right.
- pavlov 6y ago> "have really perfected the VC signaling down to choices of clothing, speaking styles, and shitty treatment of (some) employees" Elizabeth Holmes of Theranos comes to mind...
- ashtonkem 6y agoOne of the more funny aspects of human psychology is that when someone perfectly matched their signals to a very specific audience, it looks ridiculous to anyone not a member of the target audience. Holmes is possibly one of the most perfect example of this. To any non-VC it’s obvious that wearing a black turtleneck is not a necessary precondition to being the next Steve Jobs, but the VC and media commentators fell for it hook line and sinker.
- icedchai 6y agoIt has little to do with the turtle neck. Read the book or watch the documentary. Elizabeth Holmes was born into money. Her family had connections. One of her first investors was a well known VC and neighbor. All you need is a couple of connections like that to get credibility.
- Talanes 6y agoThe point about it looking ridiculous to outside observers still stands. Connections buy you credibility within the connected groups.
- heavenlyblue 6y agoElizabeth Holmes was not supported by any well-known VCs. Which is a great signal by the way in itself.
- barry-cotter 6y agoJobs never wore a turtleneck, so it’s worse than that. He wore a black low collar long sleeve t-shirt. People can’t even look closely enough to tell if someone is a good copy.
- sk5t 6y agoIt was often described as a mock turtleneck. Real turtleneck sweaters are... ridiculous.
- ashtonkem 6y agoReal turtlenecks are extremely climate specific. If you’re a north sea fisherman, you’re going to want a real turtleneck. In a climate controlled office? Not so much.
- watwut 6y agoThey are comfortable and keep throat warm without me having to bother with scarf. I like to wear them. Also great when office is overusing climatizstion.
- heavenlyblue 6y agoI think turtlenecks are amazing. I am incredibly slender with a long neck and I am almost always cold.
- deleted 6y ago[deleted]