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Thread by @moonpolysoft: "unpopular opinion, startup edition. Investors should spend time talking to the employees of the company. It pisses founders off but there is […]"

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unpopular opinion, startup edition.
Investors should spend time talking to the employees of the company. It pisses founders off but there is no source of information about the company with a higher fidelity.
Investors should actually try using the product! It's astounding how many of them only ever see demo and think, "that's that"
As it stands today, the incentive system for startups that almost only rewards external signals of health. This has led to a "bullshit tax" that disproportionately punishes founders who are inclined towards truthfulness and transparency.
investors who say they "roll up their sleeves and help build the company" almost never actually do that. you are still only a small part of their portfolio and they don't give enough of a fuck to help like that. See opinions 1 & 2
Most of the time "roll up our sleeves" means they have an in house recruiter who is a case study in the tragedy of the commons. They aren't going to build a candidate pipeline for you without a lot of work on your part.
Independent board members get more stock than some of the best engineers at a startup. All for showing up to one meeting a month and telling the occasional war story.
Investors are beholden to the internal politics of their firm to a degree that would surprise many younger founders. This means that in many cases they'd rather help you bury the bodies than lose face to their colleagues.
So when some unicorn implodes and the press asks, "how'd they let it get this far?" well,
Everyone says they hire the best. In reality you hire the best you can get, which in the early stages means high functioning people that may have some severe damage that you need to work around. If they were perfect they'd be soaking up money and stock somewhere else.
Bay area founders are into some wild shit sometimes. The acquisition deal that saves the company could come from another member of the transhumanist sex commune, so try not to judge.
It's grown a lot, but bay area tech is still fundamentally a small ecosystem. You'll run into the same people over and over again in your career. So it still pays to treat people with respect and help them get to where they're going.
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