One Type of Founder Investors Hate Funding
<p>I invited a local venture capitalist to speak with my entrepreneurship class at Duke. Once he’d finished sharing his story and discussing the industry, I opened the floor to questions. Most of the questions were typical, young-entrepreneur questions followed by typical, bland VC answers.</p>
<p>“What kinds of things are you looking for in the startups you invest in?” one student asked.</p>
<p>“Our top priority is finding great teams,” the VC predictably answered.</p>
<p>“How much traction does a company need to get investment?” asked another student.</p>
<p>“We’re mostly focused on the Series A stage and later,” the VC replied, “but we’ll invest in an idea on the back of a napkin if it’s the right founder and right team.” I rolled my eyes. Yeah. Sure. Whatever. The only idea on the back of a napkin he’ll invest in is one that comes from Jeff Bezos.</p>
<p>“Are there any sectors you’re excited about?” a third student asked.</p>
<p>“We’re looking very closely at AI and how it’s impacting every industry,“ the VC said.</p>
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