0/ Thread: The 10 most interesting VC/startup-related tweetstorms I've read in the last couple months and one key lesson for each 🌪 Featuring @eriktorenberg @mwseibel @justinkan @Suhail @DCoolican @eladgil @Samirkaji @fdestin @dhaber @andrewchen
1/ As a young adult evaluating career paths, you may think building a startup is incredibly risky. Whilst risky, it's not crazy: on top of disproportionate $ upside vs regular employment, the network you'll build can help your next thing if the co implodes
2/ As a non-technical founder looking for a tech cofounder, accept that you are starting at a disadvantage: it's the price to pay if you are to build a tech venture. Consider whether you need to work on YOUR idea. Why not help a tech cofounder with theirs
3/ As a future founder (/team) evaluating what to build, look at your profile & pick a market accordingly. If you are great at process/execution, consider the advantages of b2b vs b2c: less need for luck / virality & less need for creativity vs performance
4/ As a founder working towards your first 100 customers, you'll tend to believe in magic formulas. The truth is there is no silver bullet. Be creative, resourceful & do a lot of manual hard work in the early days. Read others' stories, but create your own
5/ As an early stage founder, you will often hear the sentence “oh, I’ve seen this before - it didn’t work”. Don't get discouraged. Instead, ask yourself: why did others fail? am I TRULY different? Find evidence that your unique twist will help you succeed
6/ As the founder of a pre product market fit company, acknowledge that cofounder harmony can be as crucial as money & product market fit themselves for survival. If you & your co-founder fight constantly, the company will slowly but surely blow up 💣
7/ As an ex-operator wanting to launch a VC firm, understand you are building a company, not just a fund. Managing deals is fun, until you get 500 emails a week. And it is only a piece of the action. Ops / platform building will be a huge part of your day
8/ As a VC, your role is to find exceptional outliers. The more you progress (and potentially succeed), the easier it will become to believe your own BS or to shy away from what your gut tells you is a great investment. Extreme mental plasticity is key 🔑
9/ As a VC, you will naturally focus your efforts on maximising upside (likelihood of a 100x win). Why not complement this with a good management of downside risk? E.g. Building acquirer relationships & knowing how to run M&A processes can add huge value
10/ As a senior expert in a particular field, don't be the 'advisor' that takes 10% of a startup's equity in exchange for your picture on their pitch deck and a couple rushed calls per month. Help the ecosystem through healthy founder-advisor relationships
