You'd never say "I'm thrilled to see many bids on the house I want to buy. That validates my taste." Why do co's say that a/b competitors?
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Replying to @lpolovets
Positive spin to a tough question. Basically, "lots of competitors but at least that makes it less likely I'm making a product no one wants"
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Replying to @backus
This kind of spin is usually seen as naive and/or delusional by experienced investors :)
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Replying to @lpolovets
Maybe you're thinking of a more extreme spin than I had in mind. If someone is trying to totally conceal tough competition then yeah, naive.
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Replying to @backus
This exchange is commong: VC: "Thoughts on [new formidable competitor]?" Founder: "An exciting development. Really validates our space!!1"
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Ah yeah thats kind of lame. Founder should use that question to show knowledge of competitor and how they differ, are worse, etc.
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