Chamath on VC pattern recognition: “everybody’s bullshitting.”
less than 2% of Series A investors overlapped across every 50 billion dollar company built since Microsoft.
“if anybody looks at you and tells you they know what the fuck they’re doing, they’re lying.”
@nalinrajput23 Fun fact: The .AI domain does not actually stand for artificial intelligenc, it was the ccTLD for Anguilla, a tiny British Overseas Territory in the Caribbean with a population of only about 16,000 people.
This domain accounts for 20-50% of the country's economy! 🥲
@sjdedic Sucide? Mental break down?
The real flex is not saying that there is no risk
The real flex is acknowledging the risks and doing it nonetheless knowing you will succeed if is Gods will.
Of course you’re the product of what you listen too
Then the question…:“Are you really you?”
The advantage of you to be a Christian is this
“The Holy Spirit prunes..everything not of you.Every thought and action.Until you are sure of you been you.”
the VC meeting went great......so why haven't they replied?
because you suck! maybe...maybe not.
you walked out onto the street buzzing.
"the partner stayed twelve minutes over, bro we absolutely killed it.....I fckn said we would".
the associate messaged you back straight away "this was so helpful, you guys killed it"
you text your cofounder, and it's just the american psycho meme with confident bateman walking through the lobby.....generational meeting.
then...............
tumbleweed.
ive been there, year after year......after year with LP's and when I was a founder pitching VC's. ive left meetings scrolling through what "neon lights" im gonna put up on my wall as a fire backdrop for zoom meetings, in our new office, as a result of the money I will inevitably be getting from the dope meeting, I "thought" I just had.
then...........
tumbleweed
so what went wrong?
first of all, you got in the room. somethings working, either your intro path works or your fomo one liner works. most people never get that far. so whatever "broke" here, it wasn't the top of the funnel.
so close claude design, stop iterating the deck ya moron, your good!
there is a very good chance that you were the "education" meeting.
someone at the fund maybe said "we should get smart on this space."
now, remember those sharp, flattering, "wow they really get it" questions? that was probably just research.
there are countless pricks out there that will gladly take 45 minutes of "free consulting" to a firm that will now go and back the company they meet in October.
the biggest tell if this is the case, ask yourself....."did they ask more about the market than they asked about our business" If yes....bingo, you just got played my guy.
If you left feeling "understood" and not "wanted" chances are, you just got played my guy.
you mistook, rapport for conviction. never mistake rapport for conviction.
enthusiasm is freer than the air we breathe. it gives "the enthused" optionality, and it buys a nice twitter persona. warmth is the cheapest thing in venture capital.
if you left a meeting thinking ....
"fck...that was rough as hell, I am sweating bullets here"
thats what you want...and thats exactly the way it should go.
you have just been put through your paces, made to think, made to explore and explain on the spot.....because that person who just put you through "hell"........wants in.
friction = engaged. this mfer cared enough to fight you.
founders always assume they got killed by the "hard question". i guarantee you got "killed" if you only received "easy ones".
and stop saying shit like "we're raising 2 to 4, but we're super flexible."
a range thats wider than your moms ass, tells them nobody has committed and there's no lead....its negative subconscious.
and "we're getting a lot of inbound interest" with no names and no dates is a bluff. they won't call it to your face....they will nod and say "yeah yeah we understand".
oh, and be careful around the fund that is 80% deployed and taking meetings to "look alive".
then there are things that entirely outside of your control and it genuinely could just be bad timing.... potential GP disputes, management problems, a partner who you have been courting, that is leaving in march and everyone knows but you.
you can usually find out with one killer line that ive advised people to use and it seems to work 60% of the time.....all the time.
one line
"straight question, is anyone at the firm carrying this internally? happy either way, just want to know where to spend my time."
half won't reply, and that's your answer. the ones who do reply will inevitably give you a straight arrow answer.
godspeed