(To be clear this tweet isn’t about Lambda, we never had that problem, I just see it from others).
-
-
Show this threadThanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Couldn’t agree more. This is why I think ‘differentiation’ is overrated. All about conviction and execution
-
I’d love to see a public database on which firms are truly the first money in on deals.
@notationcapital@nchirls look to define this with “first-check” and@chudson@PrecursorVC is another great example. -
I just went through the data because I was curious …
@notationcapital was actual first dollars in, and led (or co-led) 20 of the 30 startups we invested in out of our first fund. I believe this is unique for our stage in NYC. - End of conversation
New conversation -
-
-
that would be kind of great, but also i think the primary jobs of VCs is to generate return for their funds, no?
-
If you’re unwilling to write checks first founders will start to ignore you, and you won’t have good returns
End of conversation
New conversation -
-
-
Wonder how their LPs feel. "He we took a chance on you, when are you gonna do the same?" Wonder if LPs have a strict pattern matching protocol
-
It will show in the returns long-run IMO. Word gets around that you only follow, so the best companies don’t go there.
-
I've seen *so* many neo seed funds with awful portfolio construction and even worse party round participations. It's a surprise when they repeatedly manage to show up at demo days with a blank stare.
End of conversation
New conversation -
-
-
One of my fave posts about this, by
@ceonyc:http://www.thisisgoingtobebig.com/blog/2016/4/25/no-leading-no-guts-no-glory … -
@DannyCrichton observed a similar trendhttps://www.dannycrichton.com/2016/09/22/observations-on-nyc-tech/ … -
This is a really good assessment. Curious, what counts as a "massive technical bet". Gotta leave the planet? That "looks big" but it's really just a big rocket ;) and humans launching rockets for 60 yrs. More impressed by ppl using algos/cv for healthcare diagnosis, for example.
-
All of that counts. In my mind, the key question is how much tech risk is there in a business? Shouldn’t be basic science of course, but too many NYC businesses are pure S&M plays with limited tech
-
FWIW, same in Silicon Valley. In my experience, 90+% of companies, including many great ones, have very little technical risk if the eng team is decent.
End of conversation
New conversation -
-
-
It's funny because you either like the business or you don't. Whether they've raised a dollar or a million shouldn't matter.
-
That’s what I don’t get. Does some rando putting in $500k move the needle for you? If so, why?
-
bc many vcs have a herd mentality


-
If the founder can convince us to invest, they'll be able to convince others. Believing that makes writing the first check easier.
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.