Seed stage VCs stress waaaaay too much about competition. Most markets are enormous and not winner-take-all.
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One VC asked us to fill out a four page “competitive analysis” on how we would stack up against a competitor. We’re already bigger than them and it’s been four months.
8 replies 2 retweets 30 likesShow this thread -
Replying to @AustenAllred
Anyone asking you to fill out 4 pages at seed stage has no idea what they're doing
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Replying to @AustenAllred @zebulgar
Turns out it’s not incredibly difficult for people who have made a lot of money outside of startups to raise a $10m fund from Chinese and Arab LPs
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Replying to @AustenAllred
Everyone talks about the Bitcoin bubble. The proliferation of $10 - $50M seed funds is the real bubble.
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Replying to @zebulgar
20 and 2 for two guys with a $20m fund is just wacky incentives all around
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Replying to @AustenAllred
Mostly also it's just hard to learn how to invest on your own. Most industries train talent via mentors. Why would investing be any different. That's my main problem with most two wacky dudes funds
1 reply 0 retweets 6 likes
Not a world I understand fully, but even from this side of the table it’s clear who is going it alone
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