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by rdl 4774 days ago
Most of the top tier investors are pretty consistent with this message. Ironically, they're also the ones who get approximately all the returns, probably as much because the best entrepreneurs would prefer to work with them vs. mediocre investors, as much as because of the direct value these investors add.
2 comments
orangethirty 4774 days ago
I generally don't design or build with outside investment in mind. Given how I've seen how bad investors make good teams crumble in short periods of time. But, I would actually consider working with people who see value in me and my team, rather than only focus on the bottom line. May you mention other investors who share this same attitude?
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rdl 4773 days ago
It's easiest at the seed stage; Y Combinator for sure, and from what I've heard, a lot of people like 500 Startups and some well-known individual angels (but differ by sector).

Probably non-existent at the PE stage.

It also varies within firms -- it's down to the individual partner -- but the overall firm matters too (or else "your" partner gets blocked on doing helpful things).

The best strategy, IMO, is to get an early investor on your side who shares a lot of the same goals (e.g. YC), and then work with the early investor to find later stage investors who are compatible.

(There's one specific firm and one specific partner I really like, but I haven't taken investment from them, so I'm reluctant to name. I get better advice from him/them already than I'd expect from an actual investor, though.)

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fredwilson 4773 days ago
it is easier to behave properly when you have a big pile of chips in front of you. when you don't have any chips, it is tougher. that's why the best get better and the worst get worse.
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vidarh 4772 days ago
Given how much people talk, you'd think that when the pile is small is when you need to be all the more careful about how you treat people if you want that to ever change...

For my part I have an mental list of both vc's I'd love to work with again, and VC's I not only will never, ever take anything from again even if it's just a free pen, and while I won't badmouth them publicly, there are certainly some I like to think I will slide just a little bit quicker into obscurity thanks to the odd situations where their name might have come up in conversation..

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