142 sats \ 4 replies \ @ek 8 Feb \ on: Top Builder asks: Companies that have raised, what do you wish you knew goin in? builders
I don't have much to offer regarding this topic but I really liked this quote:
investors don't invest in ideas, they invest in the person behind the ideas
Not sure where I picked this up, maybe some interview with Sam Altman.
I think this quote is related to this:
I knew this going in but I see a lot of founders make this mistake: don't be full of shit. If you don't know something, say so. The biggest red flag to an investor is an investment being untrustworthy. This includes lying but also being afraid of reality/delusional.
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1563 sats \ 0 replies \ @davidw 8 Feb
I know Buffet gets a lot of fair criticism, but one of the things he often said was he liked businesses that would work regardless of whether the person at the helm was great or not. He would pick great businesses over great founders. Bonus if you can tick both boxes.
Probably doesn’t work so well as a principle in startup world, but it is a useful counterbalance for the above mentality of favouring people… if putting too much weight on someone being charismatic & energetic.
In comparison to a project with already significant traction and already on a growth trajectory.
The influence of the founder is far less of importance in the success of the startup, when it’s solving customers problems efficiently.
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1563 sats \ 0 replies \ @kurszusz 8 Feb
Yes...the person behind is like "the business card of the idea".
In Hungarian language it exist a proverb, which say "don't listen to what he says, but who says it". I think your quote is the "business synonyme" of this proverb
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737 sats \ 1 reply \ @k00b OP 8 Feb
investors don't invest in ideas, they invest in the person behind the ideas
It's the true true. Your product/idea is an expression of you too though, so this doesn't mean the product/idea is irrelevant.
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69 sats \ 0 replies \ @ek 8 Feb
Yeah, agree. Was wondering how I can make this statement sound less absolute but still cool but then I just left it as an exercise to the reader.
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