Fundamentally, venture capital is the business of identifying & believing in ambitious people who need someone to believe in them. The greater the extent to which they're underestimated, the more you stand to gain — why is this *never* articulated?
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I generally agree with this. But to give a counter. If you're funding round is not sufficient to be the last funding round than venture also requires that after your round + their progress *others* will continue to give them the resources needed.
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so it is rarely sufficient that you alone decide to believe in them. Need to believe (or have chain/coalition) that will too. This is why we see clustering of it
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Yeah, true. The means to prove what people are doubting can happen by next round I guess
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Asked a prominent VC which missed investment he really regretted not making and he said it was Uber. He told Travis that he would fund Uber if Travis was leading it (Travis didn't at that time), and then much later, Travis took the helm.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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