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Obviously there are three kinds of selection bias here: companies which raise money; companies which approach First Round; companies selected by First Round. S
by rdl 11y ago
Obviously there are three kinds of selection bias here: companies which raise money; companies which approach First Round; companies selected by First Round. So it's possible these aren't overall trends, but specific to this set.
I think that probably explains the "no tech cofounders do better" bias in Consumer; the bar is probably higher there.
- nostrademons 11y agoThere's also a form of selection bias where many consumer companies without cofounders acquire them before talking to VCs, because they know they're better off with one and it's relatively easy to convince a friend to join you when you can demonstrate a good idea and market demand, which is what the VC also looks for. DropBox, Google, Apple, Instacart all acquired cofounders in-between the prototype being written and them taking venture capital.
- Alex3917 11y ago> I think that probably explains the "no tech cofounders do better" bias in Consumer; the bar is probably higher there. For consumer startups often the most important skillsets are social science and product marketing, but that doesn't mean knowing how to code causes you to perform worse; the benefit of being technical is likely exactly the same as with enterprise startups.