News for hackers. Stuff that matters.
Re:How Startup Advice Is Flawed by tptacek on Tuesday October 20, 2009 @01:29PM (#892819)
10. Maybe they have an agenda. Ask yourself: Does this person stand to benefit if I follow this advice? The VCs I know and trust are honest and very pro-entrepreneur, but I routinely hear others give advice that entrepreneurs should be suspicious of. Fundamentally, their incentives are based on having a portfolio of startups. As an entrepreneur, you have a portfolio of one. Think about that the next time a VC advises you to swing for the fences.
Re:How Startup Advice Is Flawed by jwesley on Tuesday October 20, 2009 @03:05PM (#893065)
As a corollary to this, I think it's important to understand that only certain types of companies and entrepreneurs benefit from giving out business advice to the entire world. Generally, these are the types of businesses that greatly benefit from publicity. One of the main reasons social web companies pursue (and receive) so much press is that it's in their best interest for everyone to know about their product because their goal is to acquire as many users as possible. For many other companies, being in the limelight is a huge liability that can quickly erode their competitive advantage. You never hear about these businesses, but in many cases they are far more profitable than the Twitter/Facebook type companies constantly paraded around the business press.