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This is exactly the issue I find with a lot of venture capital firms. They're letting Ycombinator kill their deal flows because they're too stubborn to consider
by hdhdhshw 11y ago
This is exactly the issue I find with a lot of venture capital firms. They're letting Ycombinator kill their deal flows because they're too stubborn to consider deals from outside their networks. It's a shame really. Some of these firms have the nerve to say Silicon Valley is merit based when they're simply just taking institutional capital and funding their rich boy network.
- applecore 11y agoThe best entrepreneurs will always find a way into the networks of top-tier VCs.
- staunch 11y agoThe most common way the best entrepreneurs find their way into their networks is by succeeding without their help. The old VC strategy of just waiting around to pick off the winners won't work so well these days. The idea that the best entrepreneurs are good at things like personal networking, or ladder climbing, is clearly false. One example: Elon Musk didn't have the "hustle" to talk to anyone in the Netscape lobby, when he marched in there to get a job. He nervously stood around for a while and then went home in quiet shame. That's Elon Musk before you knew him.
- bbreier 11y agoAs long as you define "best" as those who get funded by top-tier VCs, sure.
- hkailahi 11y agoWhat if you have it backwards? The top VC firms stay the top VC firms if they attract and fund the best entrepreneurs. The best entrepreneurs are the best entrepreneurs regardless of which VC networks they tap. First Capital realizes this, and is making a move to capture the important opportunities they would miss out on otherwise.