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The ignorance-arrogance combine. Like bragging about failing math classes in middle school.
Considering PGs track record if investing in very early stage start ups (better than anyone else in the world), you should probably consider your own arrogance here.
The ignorance-arrogance combine. Like bragging about failing math classes in middle school.
I understand business plans, but balance sheets? It seems like you'd want to know the financial picture of a company. What else to you look at to, even at the most basic level, determine if the startup is going to be able to pay it's AWS bill and payroll that month?
Earlier quoted context omitted.
Why does it matter? You are changing the financial picture, probably by an order of magnitude or more. The question should be what the company will look like after the investment, not before.
Ummm...in order to know what the company looks like after the investment, you need to know what the company looks like before the investment.
Earlier quoted context omitted.
Why does it matter? You are changing the financial picture, probably by an order of magnitude or more. The question should be what the company will look like after the investment, not before.
Ummm...in order to know what the company looks like after the investment, you need to know what the company looks like before the investment.
He invests in seed rounds where those often go down the drain. The things that matter at this stage are: Founders and general market size. So sure, ignoring the noise of those two makes sense.
It should be implied that his advice is only relevant the type of investing which pg does.
pg tweeted later on that his solution is something he does in YC interviews. So his comments are obviously scoped to companies which would apply to YC.
The ignorance-arrogance combine. Like bragging about failing math classes in middle school.
Earlier quoted context omitted.
Why does it matter? You are changing the financial picture, probably by an order of magnitude or more. The question should be what the company will look like after the investment, not before.
Ummm...in order to know what the company looks like after the investment, you need to know what the company looks like before the investment.
I wonder why it was surprising for some to read this tweet. Startups will change their priorities daily. Business plans are against the idea of running a startup.
https://apply.ycombinator.com/ is basically a business plan, isn't? Is it distinct enough to not be framed as such?
I don't think a "business plan" is literally just any words, written down, that are related to "business".
It is likely a specific and defined thing.