Lean Startup pioneer and Silicon Valley legend Steve Blank shared some sharp advice for startups seeking funding through VCs.
- The minute you take money from someone else [VCs], their business model becomes your business model.
- While many VCs like to say they invest in people, very few of them have a goal to change the world. In reality, most of them have bosses, and their singular goal is to make money. "While they might like you, you’re just part of a liquidity Ponzi scheme," he said. "Their only goal is to make you liquid or go public. They will support you to do that, but that's about it."
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NOTES:
- The interview has been edited for time, reach and engagement.
- Full credits: Startup Grind (2016): www.startupgrind.com/blog/ven...
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