9 times out of 10 if I see a news article about a company and text the founder the response is “lol ya they got it wrong that’s not true”
With startups at least, the press gives you the opposite of insider information. They give you disinformation made to be fed to outsiders.
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A bit of each. If they think of some attention-getting story, they don't inquire too closely about whether it's correct.
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How does one fight that? I have seen an extremely reputable newspaper publishing a straight BS article and bending the facts to make the story juicer and more damaging. Knowing that, how do you make a judgement about things that you read in the press but know much less about?
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A decent fix I read for this is to observe how accurate the media is in your area of expertise and assume similar levels of accuracy in areas not in your expertise Imperfect, but it's a good starting point
End of conversation
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Reality isn’t sensational and doesn’t fit into a narrative. It’s ultimately at odds with journalism which is fundamentally entertainment.
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That’s the game for basically everything that might challenge the status quo (like a startup). The corporate press is the propaganda arm of our incredibly corrupt establishment.pic.twitter.com/6VXk1Sv98s
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I was just reading about radical transparency and then saw this tweet, how much of those “they got it wrong” can be avoided with some version of startup transparency by default?
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And that’s good because this information gap is one of the reasons VCs and founders make money by betting on the companies with insights which in many cases a contrary to current belief which either was created or amplified by the mainstream media
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