Exited founder (Flow, acquired by Deloitte), ex-VC, Swagger.vc game, founderinresidence.co
Toronto
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Too many founders are trying to figure out “the right way to do it” Eg founder mode. I want to love this idea. Except I have no idea what it is.
Founders need irrational certainty. But when it comes to loud, certain advice it’s better to have a skeptical mindset and a default question: I wonder if that’s true?
From The Illusion of Certainty founderinresidence.co/the-il…
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Lots of lessons from the best Angel investment in Canadian history. Mine: Angels should make (bigger) bets on (better) founders. opmwire.com/john-phillips-an…
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Most Angels are followers (which is ok). You can recognize followers by how they talk about their deals: they emphasize who else is in their deals and name drop prominent investors.
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Every dollar counts, but don't call yourself an Angel if you can only invest $5000. Trust me, the startup needs more.
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I get asked this question a lot in my founders workshops: "What if an Angel also wants to be paid as a consultant?" I know my answer, what's yours?
1/ No problem if they add value
2/ Never. Run away.
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Agree or disagree with these categories? From a post about recognizing different types of Angels and their needs.
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Before raising from Angels it pays to understand the different types. Eg most Angels are followers. It's better to focus on a lead who can think independently. I wrote a blog post about Angel types: founderinresidence.co/recogn… #angels #founders #pitching
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Playing @swaggervcgame with founders in the ChaiTech Accelerator. The winning fund? $75M in -> $1.5B out. Pretty great return. #vc #boardgames #founders
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What if the OpenAI board was right? In the sense they did their duty as independent directors? Everything about the structure and charter supports acting independently of what's good for profit or shareholder value.
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They are slowing down progress of AI
True. But the mission is “to ensure that artificial general intelligence (AGI)...benefits all of humanity.” No mention of speed (and many will believe the exact opposite.)
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Really appreciated @amandapey 's courageous/insightful debrief on Braid's shutdown. Maybe too hard on herself in the harsh light of hindsight. amandapeyton.com/blog/2023/1…
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Things going wrong are not negative signals for some future VC. They are part of being a founder and building something great.
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The game of building startups is unpredictable. It’s not only impossible to be predictable but it’s not even the goal. We would have so much less innovation if we merely achieved what we set out to do.
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One of the most uncomfortable conclusions from The Founder’s Dilemmas (Wasserman) is this: founders who had the most control had the least financial return. Question the assumption that max control = max reward. The data says otherwise.
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