linkedin post 2013-02-04 14:53:43

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BEWARE OF "PAY TO PLAY", a particularly cynical maneuver developed by some US VCs: you managed to get F&F to invest in your seed round. These were people who trusted you and wanted to support your idea. A VC comes in, and says that unless earlier investors come into Series A pro-rata, they will dilute them to nothing. Needless to say, this is a death wish for VCs playing this game. Be sure when you get involved with a VC firm that they do not have a history of this nasty strategy. View in LinkedIn
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linkedin post 2013-02-04 14:47:08

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IN GENERAL, MOST VCs DON'T MAKE GOOD ENTREPRENEURS, AND MOST ENTREPRENEURS DON'T MAKE GOOD VCs. They are different skill sets, requiring different personalities and different mindsets. A VC is also spread very thinly across many companies, and sees a large range of plans; an entrepreneur is deeply focused on one enterprise. Don't expect your VC to be your mentor, because usually they do not have time. They are really there to see that nothing bad is happening to their investment. Count it a blessing that they remain supportive and stay out of the way, as long as you show progress. View in LinkedIn
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linkedin post 2013-02-04 14:36:56

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YOU DON'T KNOW WHAT YOU DON'T KNOW. Sounds obvious? Think of the many BlowHards you know that do not think this way. If you bear this in mind, it will help give you genuine humility and curiosity. A know-it-all never constructs their world with this fundamental viewpoint. Why does it matter? Because you cannot be curious without humility. And genuine curiosity is perhaps one of the greatest assets an innovator can have. View in LinkedIn
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linkedin post 2013-02-04 14:30:55

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EXPERTS ARE DIFFERENT FROM MENTORS. All mentors are experts to some degree, but few experts are mentors. An expert has deep and narrow knowledge, but has not had entrepreneurial success or leadership experience in startups: they are superb at solving specific technical questions. Mentors are successful entrepreneurs who also have deep sector knowledge, although usually not as deep as experts. They are excellent guides for CEOs and founders in High Tech startups. When seeking advice, it is sound policy to separate these categories. Experts belong on SABs, Mentors on boards. View in LinkedIn
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