4 ms·

> In the same way at a VC will often send you to an associate because they’re “too nice” to say no, I'm going to guess that the author has never raised signifi

> In the same way at a VC will often send you to an associate because they’re “too nice” to say no, I'm going to guess that the author has never raised significant money (>$10M) from VCs. The quoted sentence fragment speaks volumes on a lack of understanding of the VC animal kingdom.

dpritchett 14y ago
This comment is salacious and yet ultimately unsatisfying. Please share!
tptacek 14y ago
I don't understand this. I haven't quite raised 10MM in a round at a company I actually cofounded, but I came close to that number, and that 'dmor sentence didn't so much ring true as seem banal and obvious. Associates are who you talk to when VC's want to blow you off. And VC's rarely say no.
- sachinag 14y ago
  I've been an entrepreneur. And I've been the low man on the VC totem pole. If I'm the only one from my firm at an event or conference, you want to see me. If you're coming to our offices, you don't.
  - tptacek 14y ago
    I mean, I'd want to talk to you at a conference anyways, because you're fun to talk to. I'm not trying to be dismissive of people who happen to be associates. :)
  - tdavidson 14y ago
    Not quite that simple, all depends on the firm. Associates can be a great ally to a entrepreneur.
- crapshoot101 14y ago
  Not true. Done multiple initial meetings that have lead to investments. This is one of those myths that is silly and wrong-headed.
  - tptacek 14y ago
    If you say so. I'm no authority, but the times I've been out, I was coached by people who were pretty experienced, and the advice we got was uniformly "if you can't get to a partner you're wasting your time". Also: it was never a challenge to get to a partner.
    - vm 14y ago
      Thomas, I enjoy your HN writings, but I'm afraid you comments here may mislead readers. Associates play a key role at VCs, sourcing MANY investments, and serving as gatekeepers. When I was a VC Associate, I sourced 6 investments, totaling over $50M invested. Those entrepreneurs are glad they met with the lowly Associate (I'm now good friends with many of them and have discussed the topic). This idea of "don't talk to an Associate" is misguided from the real fact: the Partners are the decision-makers at the firm. If you can meet with a Partner instead of only an Associate - do it! At the very least, it decreases your cycle time. Don't have a connection to a Partner? Can't make schedules work? Meet the Associate. Hundreds of entrepreneurs get funded this way, every year.
      - tptacek 14y ago
        I believe you. If I ever go talk to VC again, I'll do my best to unlearn the old idea. For what it's worth, nobody ever told us to religiously avoid talking to associates, just that (a) our goal was to convert to partner ASAP, and (b) if you can't do that, move on. I imagine it's (b) that you disagree with. For whatever it's worth, I'm only commenting because I thought the swipe at 'dmor upthread was unwarranted. Even if the idea of associates as wastes of time is totally unwarranted, it's a very common idea, including among people who have done very well with fundraising.
        14y ago

dpritchett 14y ago

This comment is salacious and yet ultimately unsatisfying. Please share!

tptacek 14y ago

I don't understand this. I haven't quite raised 10MM in a round at a company I actually cofounded, but I came close to that number, and that 'dmor sentence didn't so much ring true as seem banal and obvious. Associates are who you talk to when VC's want to blow you off. And VC's rarely say no.

sachinag 14y ago
I've been an entrepreneur. And I've been the low man on the VC totem pole. If I'm the only one from my firm at an event or conference, you want to see me. If you're coming to our offices, you don't.
- tptacek 14y ago
  I mean, I'd want to talk to you at a conference anyways, because you're fun to talk to. I'm not trying to be dismissive of people who happen to be associates. :)
- tdavidson 14y ago
  Not quite that simple, all depends on the firm. Associates can be a great ally to a entrepreneur.
crapshoot101 14y ago
Not true. Done multiple initial meetings that have lead to investments. This is one of those myths that is silly and wrong-headed.
- tptacek 14y ago
  If you say so. I'm no authority, but the times I've been out, I was coached by people who were pretty experienced, and the advice we got was uniformly "if you can't get to a partner you're wasting your time". Also: it was never a challenge to get to a partner.
  - vm 14y ago
    Thomas, I enjoy your HN writings, but I'm afraid you comments here may mislead readers. Associates play a key role at VCs, sourcing MANY investments, and serving as gatekeepers. When I was a VC Associate, I sourced 6 investments, totaling over $50M invested. Those entrepreneurs are glad they met with the lowly Associate (I'm now good friends with many of them and have discussed the topic). This idea of "don't talk to an Associate" is misguided from the real fact: the Partners are the decision-makers at the firm. If you can meet with a Partner instead of only an Associate - do it! At the very least, it decreases your cycle time. Don't have a connection to a Partner? Can't make schedules work? Meet the Associate. Hundreds of entrepreneurs get funded this way, every year.
    - tptacek 14y ago
      I believe you. If I ever go talk to VC again, I'll do my best to unlearn the old idea. For what it's worth, nobody ever told us to religiously avoid talking to associates, just that (a) our goal was to convert to partner ASAP, and (b) if you can't do that, move on. I imagine it's (b) that you disagree with. For whatever it's worth, I'm only commenting because I thought the swipe at 'dmor upthread was unwarranted. Even if the idea of associates as wastes of time is totally unwarranted, it's a very common idea, including among people who have done very well with fundraising.
      - 14y ago