How much of this do you think are your values applied to your specific context versus how much is generalizable advice to the average startup founder hustling in the US? The world? I think 1 and 2 are true for the average YC founder. 3 feels like a values trade-off.
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I’ve raised both inside and outside of YC. Valuations and amounts are higher in YC for sure, and frankly if you’re a solid YC company it’s a layup, but (at least in the US) raising is still easier than creating a successful company
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I talk to a lot of first-time, non-technical founders (mostly women) who don't have a shot at really building their business because they don't have the financial flexibility to either hire developers or dedicate full time. For them, #1 is a requirement to have a shot. It's hard
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Yup, certainly harder in that instance. Running the company as a first time non technical founder will still be harder than raising.
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Hey Austen, would you mind elaborating on how to evaluate 2? I've seen many variants of this but I don't understand understand what makes a "better investor / board member."
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IMO you can tell when you meet someone + backchannel. VCs have reputations and you’ll notice a focus on different aspects of what you do. It’s telling.
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what makes a good board member in your experience? Is it level of involvement? Is it past experience? Connections in a space? Or more of a personality fit? I’m sure it’s a combo...
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Seems like a BS answer but “helpfulness in helping you become a
$xm company.” There’s a lot that goes into that. -
I get what you mean by that, not BS at all.
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agreed on all except 3. some co's will inevitably need more $. i might say "the gal is to raise enough so you never have to raise again if you can help it -- or if that's unrealistic, raise more than enough to confidently hit MAJOR value inflection points." not very pithy tho
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Ya that’s fair
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Truer words have never been written..
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