As a seed-stage investor, First Round Capital typically
funds powerpoints. Not only are the majority of our investments
pre-revenue, but most of the time we are investing in pre-launch
companies. While these companies might have an alpha/beta version of
their site, it's usually early enough that we can’t base our investment
decision off of any market traction. Instead, we typically make our
investment decisions based on three key areas: the size of the market,
the strength of the team, and the product vision. This is often made
even more difficult by the fact that we know that many of the
businesses we fund end up with (one or more) pivots -- since their business
plan is always wrong.
To read the full, original article click on this link: Pre-Launch Business Plans Are Always Wrong
Author: Josh Kopelman
