1/ A simple theory on why VC has not disrupted itself despite living disruption: Look at the crunchbase for most of today's $1B & 10B startups and you'll see it takes dozens of venture firms across the many rounds of financing to rapidly scale to a unicorn
This makes tons of sense. Also, IMO, so many investors move in herds because making an investment is more a social event (“look at my cool investment!”) than it is anything else.
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Could be true for some angel investors but my argument above is that for professional VC fund managers, investing in herds is actually rational. If you're so non-consensus nobody funds the next round (and your biz needs capital), both investor and founder lose
Thanks. Twitter will use this to make your timeline better. UndoUndo
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