Preparing kids to become startup founders by having them do pitch contests is like preparing kids to become pilots by having them run around the room with their arms stuck out, making whooshing noises.
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Selling is a critical skill for all startups. this is one of a number of things younger folks should do, but to say this is not useful is naive.
Selling to customers is a useful skill. Selling to investors, which is what they learn in pitch contests, is much less important.
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It's by design. Venture capital benefits from a model where innovators present them with an idea in the hope that VC will "buy" that idea and fund a startup so innovators can work their asses off only to hand most of the profits to venture capital. patronage + capitalism
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Or just get as much bank debt as you can and leave VCs out of it.
End of conversation
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Sounds right. Once they learn to sell, investors are just another group of customers. Without that skill, customers will be another group of investors.
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You’ve never sold to investors, maybe. These asshats want a certain dance and if you know the dance you get selected for the prize. It’s easy to think the funding and recognition of investors doesn’t matter, but it obviously does.
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Can’t you argue that all selling is beneficial? In other words, are there universal “selling truths” ?
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