Raising series A is when founders' beliefs are forced (sometimes suddenly and painfully) to converge with reality.
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The reason customers are harder to fool than investors is not just that they know their needs better. They also have the option of waiting.
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Or churning.
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Protip: Investors should become customers.
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Even if customers seem 'fooled', they're usually extracting some experiential value, signaling benefit, or placebo effect from the branding.
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Not fooling, but bribing is common at that stage.
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Volkswagen did
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You also can't fool investors very long.
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Not quite true. Why? Take a deep look at Apple.
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I don't follow?
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Apple customers are fooled by the perfect customer satisfaction and relationship management of Apple.
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Quite a claim that hundreds of millions of customers are fooled.
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Thats the magic actually. Its pretty hard to see and understand. I love Apple dont misunderstand me.
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Investors also have a vested interest, hence more susceptible to self-serving bias.
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What about crowdsales, and ICOs with unrealistic expectations? I'm seeing customers get fooled right and left...
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Arent ICOs a fundraising vessel, making anyone who buys them an investor? And has anyone used ICOs for a series A?
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ICOs are often used as a product for sale, often one time, similar to land in a sense. The tokens themselves may be used or traded.
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