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If I remember the interview from Founders at Work, with Max Levchin (PayPal), correctly, PayPal's investors trusted them enough to radically change directions,
by apgwoz 17y ago
If I remember the interview from Founders at Work, with Max Levchin (PayPal), correctly, PayPal's investors trusted them enough to radically change directions, and it of course payed off. I think this is probably dependent on who you and your investors are.
- jasonlbaptiste 17y agoOne of the benefits of top tier angels is their knowledge and experience in knowing "things often change". If you get angel investors who don't have that much experience as entrepreneurs in the web space, let alone the angel space, they're likely to flail their arms around in fear.
- notso 17y agoThere was no radical direction change. They put up a web interface, just for the heck of it, and soon a lot more people were using that than PDAs. It doesn't involve needing trust when you look at the numbers and see that Y is a lot more profitable than X.