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Thanks for the link, sorry if it was misinformation in my post but I still could have sworn that round had something to do with a high profile family member who
by icpmacdo 11y ago
Thanks for the link, sorry if it was misinformation in my post but I still could have sworn that round had something to do with a high profile family member who was a banker. It stood out as a very annoying advantage and has stuck with me as a data point the past few years.
- lawnchair_larry 11y agoIs it an advantage? Getting investment is a good step towards validation. If you get funded for free, you lose that signal, and might just be extending the runway of your death march. I'd guess it slightly increases your probability of success, but greatly increases the cost of failure.
- _delirium 11y agoIt's not only good for the direct money (though that's nice), but also the connections to potential customers, if the source of the money is also well-connected (not all wealthy people are well-connected too, but many are). For example, somewhat famously, Bill Gates's mother served on the board of directors of the United Way at the same time that John Opel, chairman of IBM, also served on that board, which was instrumental in getting the young Bill introduced to the right people.
- trsohmers 11y agoYou're probably thinking of Nick D'Alosio, whose father was VP at Morgan Stanley. He "sold" his company through interesting means... http://www.businessinsider.com/why-marissa-mayer-bought-a-30m-startup-2013-4 http://www.businessinsider.com/why-marissa-mayer-bought-a-30...
- icpmacdo 11y agoYou are correct, I was. Thank you
- boling11 11y agoA VP at a bank isn't really that high up. It's essentially a middle management role... It's not uncommon for people to make VP in their late 20s.