Currently, it is pretty easy to raise at least 2-3 rounds at escalating valuations, provided you have a powerful narrative and some modicum of traction. But if you do this without real PMF – or especially without a viable financial model – it leads to a world of pain.https://twitter.com/maxlynch/status/1405158245921181700 …
hear this a lot, not at all sure it's true. the rigid formalism around PMF is less necessary today
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I have seen companies raise at $1b+ without any real PMF
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Why do you even need a product if you can just raise and sell secondary??
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I think you're right that it's not universally true, but you better pull off that hype -> acquisition lifecycle perfectly As a founder I think it's too risky to rely on that generally given so much of it is out of your control
Thanks. Twitter will use this to make your timeline better. UndoUndo
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I don't care about PMF in an abstract sense and it's generally not achieved at the stage we invest. Just hate seeing founders saddled with outrageous valuations that they'll likely never grow into yet can't escape from.
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I mean at the end of the day I only feel so bad – these are usually early career folks who often get a multi-million-dollar windfall in addition to a nice salary and a prestigious station in life. But it's still a shame to see a decade of someone's life misspent.
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