It would be better if investors gave no reason when they turned cos down than their usual "it's not you, it's me" reasons.
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Next time you hear "It's a crowded market," or "We're concerned about your low margins," just translate them to "No."
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Example of a startup in (what was) a crowded market: Google. Example of a startup with low margins: Amazon.
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Your advice appears to be based exclusively on survivorship bias. Being in a crowded market does not transform you into Google.
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Was that what I meant?
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You say "crowded market" is a "bogus rejection" and present Google as evidence; argument is only valid if Goog success was related to market
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No. To work as a counterexample, all Google has to do is succeed despite being in a crowded market.
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You're really saying Google's success despite being in a crowded market means that ALL investor criticism based on crowded markets is bogus?
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No, specifically that rejecting a company for being in a crowded market is. That being how counterexamples work.
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I remember hearing "believe the answer but not the reason." Think that still holds?
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Or is this about certain kinds of lame investor answers only?
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Smart founders keep knocking doors, don't get lost with petty advices. Ex: Airbnb founders. :)
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Peter Thiel, said competition is for losers, build a monopoly; wants FB to be the last social network. Monopolies are for future losers
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Don't be a monopoly, instead be the best in the industry, with lots of competition.
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Adjusting is required in some instances. Especially when you have people in the industry that want to be the only company in that industry.
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I've found when you start getting contradictory advice from people to use respect, you're close to the right path.
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