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1. This isn't feasible. A partner at CRI once told me they get 5,000 deals a year. It's simply impossible to sift through even more than that. 2. If you're spe
by mbesto 12y ago
1. This isn't feasible. A partner at CRI once told me they get 5,000 deals a year. It's simply impossible to sift through even more than that.
2. If you're spending your nights shipping code, then you can probably get users/customers. If you can get users/customers, getting warm intros is pretty easy. So much so, that VCs will come after you (see the WhatsApp/Sequoia story)
3. I've struggled to get funding so I can empathize with the author (among his other various random rants) but this isn't the right way to react to it.
4. VCs often say (at least in SV) their biggest mistakes are the "investments they didn't make". I know very few who said "shucks, wish I woulda have gotten a warm intro from them".
The reality is pretty simple - show growth and you'll get VC intros. If you spend your time complaining how the system is unfit for you, then building a venture-based tech company is probably not for you.
- soneca 12y agoYC doesn't get more than 5,000 twice a year?
- deleted 12y ago[deleted]
- dm8 12y agoYC's cheque size is $20,000 at max. Most venture firms that have > $100M under management won't write less than $1M cheque. Why? Because that's how their business works. So for institutional investors, it's a huge risk to back someone random whom they don't know. That's why YC is successful. Nowadays, VCs are rarely the first money in bank. So YC and other accelerators act as a screening step for most institutional investors. And VCs can be successful by writing larger cheques at a later stage. So win-win for VCs as well as accelerators.
- mck- 12y agoJust for the record, YC's check had increased to $120k since April