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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I find unambitious companies "boring" from a mission perspective, but guess what? Investors also find them boring from a money perspective!
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Solving a "modest" problem competently gives you, like, a $200M exit. Investors can't get the returns they need unless they bet on companies that have a chance to do better than that.
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I'm used to downplaying my ambitions to sound more "professional" and "serious", because I don't have nearly enough of a track record yet to prove I can achieve them. But I'm starting to get better responses just by telling the truth explicitly.
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From the VC's perspective, hearing "I want to replace a $300B market" is a good sign, not because it proves you can (it doesn't), but because it distinguishes you from people who aren't even thinking of trying (which is actually a lot of founders!!!)
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Replying to @drethelin
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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Replying to @s_r_constantin
When I hear that it's "Boring" to make 200m dollars I hear "I'm addicted to the narrative of glory".
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Replying to @drethelin
Incremental-but-good steps like that are really important, but they're actually not, afaik, the thing VC is currently set up to optimize for. Maybe that's bad! But that's a different question.
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My other opinion is that an ecosystem of small-ish firms each making an incremental contribution is more likely to work the more functional the background institutions of society are. E.g. the Industrial Revolution was a lot of little inventions, not one Tony Stark's grand plan.
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Replying to @s_r_constantin @drethelin
If you don't have adequate coordination between firms, e.g. in broken markets, then you're more likely to see success with bigger firms that integrate a lot "under one roof".
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