1/ I’m all for fast, efficient fundraising processes but this year, IMO, many founders have over-optimized for speed.
A few things to keep in mind.
Fast decision ≠ high conviction.
If an investor gives you a TS a few days after the first meeting, it MAY be a sign of strong conviction. E.g. because they have a thesis, have done a lot of work beforehand, or when it’s true love at first sight.
Nov 23, 2021 • 6 tweets • 3 min read
I bought a few @chain_runners yesterday to start learning more about how NFTs work (yeah, I'm late, I'm a good ol' SaaS investor).
1/ Are enterprise SaaS or SMB SaaS companies faring better in the current crisis?
I think there‘s no general answer.
👍🏼 No significant churn due to customers going out of business.
👎🏼 CFOs pushing for longer payment terms.
👎🏼 Longer sales cycles.
👎🏼 No industry events, no customer conferences, no steak dinners.
👍🏼 If you manage to generate leads and close them without these field activities, you can reduce your CACs.
Jan 4, 2020 • 6 tweets • 1 min read
1/ Homeopathy is a ~ €600 million market in Germany alone. Worldwide it’s billions.
- Homeopathy is effective, which explains why so many people swear by it.
- Homeopathy is not more effective than placebo but it is particularly powerful in triggering ...
2/ ... the placebo effect (because of the rituals, stories and ideology around it).
- Efficacy of drugs is usually assessed based on the benefit beyond placebo baseline. So based on that standard, homeopathy is ineffective.
This brings up two questions. One ethical, one ...
May 23, 2019 • 6 tweets • 2 min read
1/ Because I live in an echo bubble of early-adopters, VCs and fast-moving startups, I think I've underestimated (a) HOW slowly large companies move and (b) HOW long it takes to displace them.
Two examples from Google and Microsoft:
- I absolutely love Google Docs and ...
2/ ... Google Sheets, but boy are they slow at improving the products (remember that Google acquired Writely back in 2006 and turned it into G-Docs). With hindsight, there was a whole decade that offered a great opportunity for a startup to build a better version of G-Docs and...