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From my understanding, VCs don't like to decline so that they don't close any doors. They may not want to fund at the time, but may jump on it later.
by skarayan 15y ago
From my understanding, VCs don't like to decline so that they don't close any doors. They may not want to fund at the time, but may jump on it later.
- daniel-cussen 15y agoDo they any make an effort to leave the door ajar?: "We'd like to back you, but we need to see more traction before we can. Come back when you have enough to make funding merely a bold move (by VC standards) and less of a leap of faith, as based on objective milestones." That plus a few revisions. Has anyone seen this in the wild?
- deleted 15y ago[deleted]
- Terretta 15y ago> Has anyone seen this in the wild? It's practically a meme: http://d.pr/nJpH http://d.pr/nJpH EDIT: Tracked down the Tumblr where I saw that slide: http://bryc3.com/post/172703130/i-ganked-this-slide-from-joe-beninatos http://bryc3.com/post/172703130/i-ganked-this-slide-from-joe... Slide text: How VCs Say "No" - <strike>"No"</strike> - They don't return your calls or emails - "We love what you're doing but would like to see more progress" - "We'd like to see what your beta looks like" - "Have you thought about hiring a _____" - "Have you thought about approaching _____" - "We're interested, but we don't want to lead."
- deleted 15y ago[deleted]
- ori_b 15y agoThe way I look at it, a respectful decline is far more likely to leave me open to working with them if they reconsider. Leaving someone hanging isn't leaving the door open -- it's standing them up. It's a huge "fuck you". "We think you have potential, but we think you're too much of a risk right now. We'll talk later when you have more traction" is perfectly fine, and I would be glad to work with someone who told me that. Silence when I try to contact someone is simply a way of saying "I'm an unreliable douche."
- ericd 15y agoThey're very busy people, whose attention a lot of people want to get a piece of, and don't always have time to answer every email they get. As someone who spends 3+ hours on answering email per day, and doesn't always get to all of it, I can sympathize.
- nske 15y agoIf they have decided they had enough time to call and arrange a meeting, as is the case of the author, they should certainly find the few minutes necessary to send an email with their decision.
- suking 15y agoAnother favorite line is, "You're a bit early for us" and ask you to keep them updated. AKA if you start to explode they'll open their checkbook.