Good morning,
Startup investors make their names by identifying the potential for wild growth. Garry Tan also has the ability to spot the precise way a company is likely to die.
Tan is known for his investments in Coinbase and Instacart. And before co-founding and managing his early-stage venture capital fund, Initialized Capital, he was a partner at Y Combinator, where he advised more than 700 startups.
So what’s the "thing" that could kill your startup? Tan actually has a long list. One: co-founder disagreements, fights, misunderstandings, or mismatches. Two: not being ready to pivot or scale rapidly once your product finds its ideal market fit. Three: Someone "stops believing." It could be a founder who becomes uninterested in the company's initial mission, or its future vision. It could be an investor, or employees, or customers. But once the belief is gone, it's already too late.
Listen to this week’s episode of Inc.’s What I Know podcast to learn Tan’s advice for turning that boat around, and preventing your startup’s untimely failure. |
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