Founders/CEO’s of early stage companies: it’s your job to engage with investors and other founders. Seeing way too many folks sending assistants, ops managers and others. Out the gate, the bet is 99% on you!
Today's tweet thread is on keeping your startup afloat.
Reading Twitter can be a lot of doom and gloom and can create nervousness about capital, but the reality is that you can make it work -- even without investors!
Read on >>
People forget that venture capital had its initial success in the early days of computing and hardware. By no means it is a software only business, it's just that software only is so much easier.
Looking for a top notch generalist with an entrepreneural spirit.
Person can dabble in Figma, can spin up a prototype, and manage projects end to end.
Bonus if they’ve worked in B2B SaaS and have a wild imagination.
Comp and equity is 📈
Who’s out there?
The list of equity investors alongside Elon is pretty interesting;
a16z ($400m), binance ($500m), DFJ ($100m), Larry Ellison ($1B), Qatar ($375m), Sequoia ($800m), Vy ($700m)
At $44B now, what do you think the upside is from here? What do you think it’ll be worth in 3 yrs?
PSA: founders, if a VC wants to invest but tries to attach a side letter requesting to have a say in key hiring decisions, hands-on operating involvement, and/or onerous information rights, just say no 🚩🚩🚩
I hope venture capitalists see this period as a wake up call.
Expand your network, fund overlooked founders solving real problems. I’ll keep doing that, we’re still raising and still deploying.
This is a pivotal moment, folding isn’t an option.
🧵 Let’s talk about startup metrics other than MRR
In downturns like now, VCs move to quality. Startups have to show more than just growth.
We had several companies raise As in Q1 and I’m already seeing a difference in Q2.
Here are some references for founders on metrics 👇🏽
Venture is a LONG game
People obsess about whether the market is “founder friendly” or “VC friendly”
In reality, it’s far more productive if these are in balance, if it’s just “friendly”
When all sides respect each other and work together, incredible things can be accomplished
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