Image from here :: The Valuation vs. Traction Matrix – Jason Calacanis
Great post. Will try to dive into it more later.
This is good though:
Startup valuations are not science, but they’re not magic either. It’s a bit of alchemy, combined with bizarre marketplace dynamics like famous founders getting 3x the price for half the traction, or Y Combinator hosting a gigantic demo day in order to create FOMO with novice investors who are explicitly told not to think things through and just cut a big check (literally, that’s their bad advice to investors).
I think nary a week goes by where someone doesn’t ask me how VC is going and when am I going back. I guess back means to return to building something, joining a company or working on a product.
It’s normally something that requires a longer answer but usually I say ask me in 10 years. That’s cause it will probably take me that long to see if I am any good at this VC thing.
That being said I think people ask this due to the very nature of VC being somewhat transactional and maybe building something is more of a co-op approach since there are teams involved all working together to ship. It is a sentiment I think about a lot.
Saw this tweet the other day and was thinking about it even more:
However I always consider that there may be a better way but I am not saying I discovered it but highlighting that each and every craftsman in the world can approach their craft with a new frame of mind. With VC I think about what that means often.
Let me run down a few areas I think as a VC I can be more like the product person still living inside me:
- Be open and transparent. Of course not everyone reacts well to this but I find a certain amount of it works
- Be humble
- Be helpful
- Have empathy for the founder and the other people/organizations in the mix
- Try to write often enough so people can see what’s on my mind and how I feel about something
- Continue to focus on doing the right thing – it may not payoff immediately but I believe it will win in the end
- Learn to listen more – speak less. I am terrible at this but I am very conscious of improving it. That’s a start right? 😉
- Foster an ecosystem since everyone will benefit (https://alpha.seedplus.com)
- Be company friendly. This is a long one to explain but I think the right folks now what I mean
I don’t intend to go back as some people call it since I think I moved forward while still getting better at my craft. I see my craft as helping build great companies by being their investor and whatever else they need me to be while I am in that role.
Pretty sure that is similar to what I did as a product person but I am not an employee or a founder.
However the North Star feels similar to me.
Your mileage may vary.
The UX design case of closed captions for everyone // Sebastian Greger
I keep them on all the time – mainly cause I might have the sun low cause the baby is sleeping
I also watch some English stuff with Thai subtitles to grok some words know and then.
Didn’t know so many others did this.
Walmart International spent $16 billion to go big in India. CEO Judith McKenna has to make it work – CNN
Was talking to a friend about India and VC – one thing we all agree on is that the monster exit of Flipkart has done wonders for the scene. Lots of people made money and it is going to new firms and new startups which helps to compete with the old guard. More foreign funds will pay attention now knowing exits can and will happen.
However – making investors, founders and employees rich has nothing to do with Walmart turning Flipkart into a money machine.
On this part -I think they will struggle long-term against Amazon.
Get the popcorn.
This is awesome !
From spicy papaya salad at Som Tam Jay So to ethereal curries at Khun Ya Restaurant to phat Thai at Thipsamai, here’s what not-to-miss in Thailand’s capital city
— Read on http://www.eater.com/maps/best-restaurants-bangkok-thailand