Ha! More than 20 years have passed but I can still feel the sting of my meeting as a founder with Doug Leone Probably the single most brutally honest feedback I ever received in my life
Many founders get burned like Yuri did by the sharp increase in difficulty between raising the first and the second round. To raise the first round, you merely need to be asking promising questions. To raise the second, you need to have answers to them.https://twitter.com/yuris/status/1369683264235958274 …
It's been almost 10 years since one of my most embarrassing fundraising moments as a founder.
A moment so embarrassing that I couldn’t talk about it for years.
It taught me the difference between raising a Seed round and a Series A, as well as some well needed humility.
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What was the feedback, curious? :)
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SOLVE. PROBLEMS. FOR. PEOPLE.
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Or you found a psychedelics company and promise to go public
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Advice like these are worth their weight in gold.
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Not discussed enough. Gaps between rounds and how to model business growth around those expectations and realities. Obviously a complex topic, but rounds are often discussed in silos.
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Primarily one question: Can you sell to a customer? I mean really, the rest is window dressing.
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