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And yet this is the sort of advice I'd give to anyone talking to any investor: learn what that investor cares about, judging from what they've said and the comp
by pg 17y ago
And yet this is the sort of advice I'd give to anyone talking to any investor: learn what that investor cares about, judging from what they've said and the companies they've funded. In fact giving founders this sort of information about later stage investors is a not insignificant part of what YC does.
- MicahWedemeyer 17y agoIt's another example of how distracting fundraising can be. Instead of working on new features or releases, you're trying to learn the likes and dislikes of a particular investor. If you're seeking funding, it's definitely something you need to do, but it really seems like a big gamble to me. You can spend a lot of time learning about a particular investor and still come up with nothing to show for it. I went down this route when I went to Techstars for a Day. Conversely, if you're working on new features or interacting with your customers, there's pretty much some sort of guaranteed return. Still, if you've managed to line up a chance to pitch, it's probably not a bad idea to spend a little time doing your homework about who you're pitching to. Just don't go overboard and let it become a distraction (like I did...)
- pg 17y agoThe really distracting part of traditional fundraising is the amount of time it takes investors to make up their minds. Spending a couple hours learning about the people you're going to talk to is rounding error by comparison. It's no more than you'd do for a job interview.
- MicahWedemeyer 17y agoGood point. I suppose I conflated interview and application. An interview does demand a higher level of effort than an application.