August 24, 2016
Responding to a recent tweet from Joe Fernandez, VC Fred Wilson has stepped up to offer an important reminder that any young entrepreneur needs to keep in the back of their mind: Venture capitalists aren’t superheroes.
too many young entrepreneurs talk about vc's like they're heroes and their blog posts are scripture
— Joe Fernandez (@JoeFernandez) August 19, 2016
Why It Happens
VCs are driven to incubate hero-worship thanks to the specifics of their jobs. First, its a highly competitive career, so VCs need to find ways to bolster their past successes and establish themselves as experts. That means they need to stay on social media, offering a stream of advice and insights. To young up-and-comers, that’s a huge draw: VCs are both constantly available and appear infallible. The path to success, it appears, is to emulate them, starting with an ego enlargement.
What You Should Do About It
“That doesn’t mean it isn’t useful or insightful. It may well be. But you should understand the business model supporting all of this free content. It is being generated to get you to come visit that VC and offer them to participate in your Seed or Series A round.”
Treat VC advice as a “single data point.” There’s nothing wrong with it, but you’ll need more info backing it up before you start changing your startup based on it. VCs aren’t infallible, even if they like to look like they are.
Did you like this article?
Get more delivered to your inbox just like it!