On seed investing
Yes, yes, everyone online apparently wants to hear your thesis. Please tell me what you think of this market, what the future looks like for such and such industry. Please take part in a panel to share your views on this.
My take is that all of this stuff is largely irrelevant and wrong.
In my experience, it has often been the most cerebral, intellectually rigorous investors who have missed the greatest early companies.
And that’s because they try to be too smart, to have an overly precise point of view on the business opportunity. They want to sit in their board room and be oracles and then write a twelve-part tweetstorm or LP letter on the subject.
But you cannot blame them. People want to feel smart, and it’s almost impossible to raise a fund by telling LPs to just trust your intuition.
You need a thesis, you need arguments, you need unique access, etc. You have to be able to...
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