You know those startups that sound like they're tackling a big problem (like "healthcare" or "climate change") but the thing they plan to build can only fix a tiny part of the problem, even if they executed it perfectly?
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Don’t be Theranos.
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Oh, believe me, that's top of mind. Holmes did a lot of things I'd never dream of doing though. Like straight-up faking data and suing anyone who didn't believe it.
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I’m personally very allergic to any company playing up an unrealistic market size estimate. VCs know those are bullshit. But then med device investors also say things like “the TAM has to be at least $1bn or we won’t look at it” There’s a big range between $1b and $300b though
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Good to hear the counterpoint!
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Why go VC? Why not bootstrap, go for early profitability and reinvest? I question, very much, the VC model.
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addendum: I think you are very smart and talented and could succeed either way. I just want to better understand the rationale behind VC funding.
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Hard earned lesson right there. Just finished my 4th serious fundraise, happy to provide feedback on deck, pitch, or help in any other way. You probably don't know of me but the LW community has a long tail :)
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I’ll vouch for you!
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