Re:What I look for in a pitch
by AndrewKemendo on Tuesday August 22, 2017 @11:57AM
(#15073646)
What they actually look for is momentum and all these conditions are 'bent' when that weird FOMO feeling takes over.
Yup, this exactly. MAYBE your team matters depending on who you are talking with, but if some VC gets a whiff that you have 2MM users, are growing 5x MOM for the past 6 months with 1% churn and high engagement they will literally hunt you down to throw their money at you.
Can confirm. And they'll call you on your personal cell. VCs are tracking us just as much, if not more, as we are tracking them.
Gurley spoke again and again on not getting Google, being put off by its valuation as many were back then. “[We are] looking for positive black swans if you think you see one any price is kinda any price,” he said of the mounting valuation mania around unicorns. “The Google round-- because I was there went down-- $80 million-$90 million [pre-money valuation] with no revenue and it seemed crazy. You can only lose one time your money the real losses are the missed outcomes. You have to teach yourself to be more optimistic than maybe you were programmed to yourself because there’s way more cost to a false negative.”
Yup. VC's are in the game to money. I felt the article was promoting himself as different and unique...
Anyone who thinks that all this data is pertinent to make the investment decision will most likely never say yes to any startup.