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When you held Startup class in NYC. You brought up a few founders who were invested in... and what struck me was that each of them had previous relationships to
by thescorer 12y ago
When you held Startup class in NYC. You brought up a few founders who were invested in... and what struck me was that each of them had previous relationships to their investors.
For example I heard at least twice from an investor: "I've known john for years prior to him coming to me with [insert company name here]."
So my question is, do you think there exists a "good ol boy's club" in SV that increases the chances by a great deal of getting funded? Or do you believe the playing field is even for those who don't have those kind of connections?
- sama 12y agoFor sure it helps to get to know investors over long periods of time. However, the investors that invested in my company knew me for 45 minutes (YC), a few weeks (Sequoia), and a few months (NEA). It's important as a founder not to make excuses for yourself. Sure, it's easier to get money if you've known investors for a long time, but it's certainly possible to get it without knowing them for awhile. In YC's specific case, we don't know the great majority of the people we fund at all.