Welcome to the world of startups and investing. Enjoy your stay.
For those that just got rejected: Welcome. If you're seriously getting into the startup world that will be your first of dozens of rejections. Learn to take it in stride.
Investors invest in stuff they get, stuff that's presented well, and stuff that they relate to. That's triply true for early phase where they're going more on a hunch than anything even bothering to be hand-wavey with projections.
Just one kind of cute story, both from successful founders cum angels: We've had meetings with two angels now. One of them thought my co-founder was a turd. The other thought he was the swellest guy on the planet and has been telling all his buddies about us. Are either of them idiots? No. In one case things clicked, and in the other they didn't. All of the business plans and prototypes in the world wouldn't have changed that.
All early phase investors make some dumb investments. In fact, most early stage investments are dumb. YC is a bit ahead of the curve there, but they don't have a crystal ball.
For those that just got rejected: Welcome. If you're seriously getting into the startup world that will be your first of dozens of rejections. Learn to take it in stride.
Investors invest in stuff they get, stuff that's presented well, and stuff that they relate to. That's triply true for early phase where they're going more on a hunch than anything even bothering to be hand-wavey with projections.
Just one kind of cute story, both from successful founders cum angels: We've had meetings with two angels now. One of them thought my co-founder was a turd. The other thought he was the swellest guy on the planet and has been telling all his buddies about us. Are either of them idiots? No. In one case things clicked, and in the other they didn't. All of the business plans and prototypes in the world wouldn't have changed that.
All early phase investors make some dumb investments. In fact, most early stage investments are dumb. YC is a bit ahead of the curve there, but they don't have a crystal ball.