Subtle real advantage nobody talks about: if founders can access deeper pools of capital early/quickly, they can get bigger faster without spawning lots of competitors.
If your startup is real, pitching Sand Hill is sometimes like giving away copies of your treasure map
This advice is seldom given because most of the time and for most founders, you are still better off talking about your idea as much as possible to better understand where the dead ends are in the idea maze. Can’t do that in isolation.
Asking investors what is hot is usually less useful than asking what has worked, and what didn’t work and why? That’s how you can skip ahead and avoid death.
“All I want to know is where I’m going to die so I’ll never go there.” —Munger
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In 2019 The Richmond Democratic Club honored her with some kind of award alongside Peter Lauterborn, a manager in the SF Ethics Dept
Having friends in the Ethics dept is awfully handy if your political machine might need the dept to look the other way
This was the same event with a truly rotten cast of corrupt politicians including Allison Collins who was recalled for making instruction worse for kids, removed Algebra from middle schools and merit from Lowell (and calling Asians house n-words)
The difference between an overhyped startup failure and a valuable real business that makes it the long haul is sometimes as simple as:
Do the founders themselves believe in what they are doing to the point where they will not quit?
This is where definite optimism matters: If startup ideas were people…
an indefinite optimist looks for more optionality, searching around the room at the party for the more interesting person to talk to.
A definite optimist engages deeply and finds themselves engrossed in the person they are talking to now.
For their startup, the problem or way to solve becomes a calling. It isn’t just words to trick people into giving them capital or to come work for them.
Melgar also vocally supports our absurdly bad SF police commission (and the worst ideologues on it)
This terrible police commission is more focused on reducing enforcement on traffic stops than actually solving any real world safety problems in our city
It’s surprisingly common to spend all your time fighting the other players in your market and then realizing years later the market didn’t really exist.
The only way to avoid this is radical focus on customers, not competition.
Early on, my startup Posterous was framed to be a Tumblr competitor. We spent a lot of time fighting that battle.
That market didn’t end up being a real durable one.
We were so focused on web publishing we underinvested in mobile and the ultimate winner was Instagram.
In the moment there are enemies to the left and right of you. But the real combatant may not be obvious to either of you.
The ultimate winner knows not just what is next to them, but the contours of the battlefield and what ground has durable advantage to hold the lands.