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>Today you have funders focused exclusively on “Day 0” startups or ones that aren’t even created yet. They might be ideas they hatch internally (via a Foundry)
by qPM9l3XJrF 5y ago
>Today you have funders focused exclusively on “Day 0” startups or ones that aren’t even created yet. They might be ideas they hatch internally (via a Foundry) or a founder who just left SpaceX and raises money to search for an idea. The legends of Silicon Valley — two founders in a garage — (HP Style) are dead. The most connected and high-potential founders start with wads of cash. And they need it because nobody senior at Stripe, Discord, Coinbase or for that matter Facebook, Google or Snap is leaving without a ton of incentives to do so.
Supposing I just left spacex, what funders would I reach out to who would give me money to "search for an idea"?
- im_down_w_otp 5y agoOne can't help but wonder if the arrow is pointing the wrong way in part of that quote. Perhaps those founders end up being "high potential" because they were a cohort of people given wads of cash and institutional support that only expect a 5%-10% success-rate?
- User23 5y agoAnyone at senior or higher who worked at one of the FAANG's for at least the past five years is either terrible with equity or has more than enough money to self fund a startup.