fascinating that seed stage firms have had a “sky is falling down” moment every years 2018: Series A firms are stealing our deals 2019: growth firms are stealing our deals 2020: solo capitalists are stealing our deals worth considering what the product of seed means in 2020
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I think this 2020 framing would show a fundamental misunderstanding of your product as a seed firm (and likely you've overrated the value of your ~*platform*~) If you're losing to a solo capitalist, I view it the same as losing to almost any other institutional seed firm.
if you lose a deal in 2020 the natural next step is to continuously expand your platform up until the point where it sops up all returns, and then repeat
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Too real. I should caveat that this is only WRT having a SC that is backed by financially minded LPs. The reality is many are investing from pools of capital that DGAF about returns so if they want to pay 3x+, we're just playing a different game. And that's okay.
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I will only consider term sheets from firms that platform team includes the ability to underwrite a mortgage on a home i cant afford and access to an accelerated secondary passport process
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