First off: Why can high prices be partially explained by a scarcity of great founders? Typically high prices signifies a scarcity of something. When oil prices are high that means there’s a scarcity for oil.
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#3 Founder Pooling has never worked. Why would it work now? Fair enough! I'd suggest it hasn't really been tried. Maybe it won't, but there are other ways to diversify. E.g. Angel/Scout investing hasn't seemed to hurt founders chances of success (cc
@villageglobal)Prikaži ovu nit -
In conclusion, IMO: - We're suffering from founder scarcity, partially evidenced by rising valuations - We should systematically remove bottlenecks to starting cos - We can incentivize more founders by making median founder outcome closer to avg & by removing economic friction
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We also should decrease cultural friction to starting companies: - celebrate starting cos as a thing for ambitious ppl to do globally - see startup failures on resumes as badges of honor instead of blemishes - create communities to find co-founders & founder support(
@beondeck)Prikaži ovu nit -
Would love to hear thoughts & feedback. h/t
@BurakYngn and@david__booth for conversations on the topic.Prikaži ovu nit
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The best incentive for VCs: Risk sharing founders will accept lower valuations. This lower valuation should more than offset the reduction in expected outcomes because of the founder no longer being "all-in". It'll be a human capital / behaviour arbitrage for first movers
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And that happens to be the whole point! We'll have >10x more founders, all accepting lower valuations. VCs make the same returns or more. Benefit (eventually) accrues to society
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Čini se da učitavanje traje već neko vrijeme.
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