Fascinating insight, by Josh Breinlinger, about why VCs rarely mention team issues when they reject a startup with a dysfunctional team:
I decided I'd test the waters a bit. I told some founders that it was because of them. I told some founders it was because of their co-founder. And I've lied and said "you just don't have enough traction yet." Here's what happens...
Read the article for his findings. Josh also offers some advice to founders to help change this dynamic:
- More direct soliciation of feedback. "Do you have any feedback for me personally?"
- More two-way feedback. VCs should seek feedback from entrepreneurs too. If you pitch me or know me, please give me feedback!
- Check egos. It's easy to get defensive... just try hard not to.