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I heard this on a reddit thread a while back but rings very true here. > If you are seeking capital for a startup with a product, you have to sell the startup
by _fat_santa 2y ago
I heard this on a reddit thread a while back but rings very true here.
> If you are seeking capital for a startup with a product, you have to sell the startup on realities (ie how much revenue you are making). If you are seeking capital for a startup with no product, you can sell the startup on dreams, which is much much easier but also way riskier for investors.
Since these guys don't have a product yet, they 100% sold it on big dreams combined with Ilya's track record at OpenAI.
- fragmede 2y agoA step removed from the no revenue scene from HBO's Silicon Valley https://youtu.be/BzAdXyPYKQo https://youtu.be/BzAdXyPYKQo
- trashtester 2y ago> combined with Ilya's track record at OpenAI. I think it's Ilya's track record all the way since AlexNet, including his time at Google AND OpenAI. He's not a one-trick-pony.