[stephnass]

Hey OpenVC founder here! Thanks for trying the Fundability test :)

The test is not out of 100 points. The idea is to place you against other companies raising at the same time. If you have no revenue and everyone else has revenue, you will rank lower because at the end of the day, it's a competition.

As a general rule, investors invest if (a) you have track record or (b) you have traction i.e. users and/or revenue. If you have neither, look at grants, accelerators, and family and friends instead. And your own money, ofc.

I know it's counter-intuitive for many. Aren't VCs supposed to take risks and put the first check in?

That's not how VCs think. They will see 5,000 decks a year and invest in 5, so they just pick the strongest projects at a given point in time.

Not denying your efforts and potential, but there's just another project that looks better on paper: more proven team, more traction. It's all relative.

On that topic, check out these 2 graphs that apply to your case: https://x.com/StephNass/status/1859447351187787826

For a longer read with some maths, this post by Jonah Probell is eye opening: https://www.openvc.app/blog/seed-stage-is-about-picking-winn...

[Raiev]

Alright, I understand you — you're evaluating not the project, but the person, because what matters to an investor is not even the project, but the partner. But what does your test have to do with evaluating a person? A machine assembled in 2010 in the central part of the US — is it good or bad? Should I have bought it? How will you understand from that test the level of intelligence, motivation, willpower, creativity of thinking, or depth of market understanding? It’s just a way to filter out those whose project is already generating income — especially those for whom this is not their first profitable project. This test shows nothing more.

[hnlurker22]

What about the large number of failures of (a) and (b)? I've worked with so many startups and recently all I can think of is what garbage are these investors investing in, and how is this garbage that's going to die within a year making me so much money (as an employee).

[Raiev]

Yes, you're right — just put "AI" in the name and millions of dollars start flowing in. The main thing is hype. You go to investors, to grown-up rational people — and there's neither the first nor the second.