Part of me wants to say “I agree, this has always been the case and will always be the case.” and part of me wants to point out that investors materially impact IRR with a few minutes of working on new founders. (I’m glad we’re distributing memetic defenses against this.)https://twitter.com/paulg/status/1165342475134783488 …
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I still find it hilarious that the best deal making mechanism Silicon Valley has been able to come up with so far is mobbing founders after a demo.
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Well, best for people deploying tiny amounts of capital andlots of reputation and expertise to produce many simultaneous high-beta illiquid investment opportunities. Imagine if the CME sold options two days a year. With no secondary market. Remember the trading pits?
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Agree about it being a proving ground for CEOs. Loose seed money leads many to encounter this later in company lifecycle than they would in decades past.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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