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by auganov
2981 days ago
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My impression of the current seed and pre-seed enviorment is traction trumps everything. Revenue being the favourite sign of traction. A lifestyle business usually tries to establish revenue very early on. Another aspect worth mentioning, though perhaps a minority opinion - the Internet economy has grown enough to make what traditionally would be a simple niche'y product into 9 figure phenomena. The point being, VCs aren't complete fools putting money into these at an early stage. VC funding is a form of social proof. Also in case of a total failure, as in 0 traction, perhaps even no product - it establishes "realness" of sorts. |
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