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Also understand the VC industry is inherent with learning from the ideas submitted to them as part of curating deal flow; and it's common for them to justify it
by loceng 2y ago
Also understand the VC industry is inherent with learning from the ideas submitted to them as part of curating deal flow; and it's common for them to justify it with a mantra that ideas are supposedly not worth anything, and it's all about execution.
When and who to share ideas with - and any market traction you may have as proof points there's an opportunity - is possibly the most important part of executing, and where you may be shooting yourself in the foot if sharing that with people in the business of funding ideas.
- _akhe 2y ago> VC industry Well said, and you reminded me to be more careful about what I share haha
- andrewstuart 2y ago>> ideas are supposedly not worth anything If ideas are worth nothing then a great team executing well should be able to create a billion dollar company selling dog droppings. Anyone who says ideas are worth nothing is flat out wrong.
- dang 2y agoI think the claim is rather that idea is not the high-order bit in an early-stage startup funding decision; founders are. There's no success without eventually finding a good idea, especially since 'successful in the end' is practically the definition of 'good idea', or close enough to be inseparable. So it's not so much "ideas don't matter" as "starting ideas don't matter", as long as you're the type of founder who can excecute on an idea, change it as needed, and drop it when necessary.
- andrewstuart 2y agoA great idea is incredibly valuable. In fact the idea is the key to great success. However, it is true that without great execution, timing and luck, a great idea will go nowhere. Trouble is there are many people who have heard "ideas are worth nothing" and failed to understand that the full sentence is "ideas are worth nothing without execution" - that is certainly true, but it is a totally different statement to "ideas are worth nothing".
- loceng 2y agoGood ideas are arguably emergent from "time spent on problem" - where time spent on problem is also considered a key metric. If people do want to play the VC industrial complex game - then at least understand the pros and cons of it; otherwise it's good to understand it so you know how to better position yourself.
- mcmoor 2y agoI mean, there are shit (literal?) businesses our there with stellar marketing and therefore stellar revenues. It's famous that a charming person can sell you almost anything, even your own things.