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Don’t VC always say they invest in the founder not the company? It’s all about how that person makes them feel. Some argue that is why there is less diversity i
by nytesky 4y ago
Don’t VC always say they invest in the founder not the company? It’s all about how that person makes them feel. Some argue that is why there is less diversity in VC funded companies.
- ryandrake 4y agoIt's like the "cultural fit" hiring criteria loophole, which allows companies to deliberately cloud their hiring decision-making by incorporating vague and bias-fraught inputs. It's a way that an organization can claim they have measurable, quantitative criteria, while allowing themselves to override that criteria with their gut feeling when they want to.
- randycupertino 4y agoJust based off that news article with how much the VCs were delighted after a call with SBF while he was playing League of Legends it certainly seems like they base most of their investing off gut feeling and "vibe check" vs actual fiscal due diligence. Which is how charismatic quirky founders like Elizabeth Holmes, Adam Neumann and now SBF keep finagling big round raises.