Why you shouldn’t raise a ‘friends and family’ round
▻https://hackernoon.com/why-you-shouldnt-raise-a-friends-and-family-round-923083e15df0?source=rs
The centre of the universeModern #startup culture has painted a cliched image of the founder’s journey. It often starts with young friends who have some mix-and-match of these classic tropes:Dropping out of college.Taking crazy risks with their personal finances.Working in some wholly inappropriate location (and sleeping there if you’re really hardcore).Being rejected by early investors and instead scraping together cash from uncles, cousins, parents…anyone you can.We idolize these stories because everyone loves an underdog. The eventual success is all the sweeter for the tough times, the doubts and all the people who said you couldn’t. But there’s a problem with these stories; the majority are cherry-picked PR bullshit. The truth is that most successful founders come from positions of (...)
#angel-investors #seed-investment #early-stage-startup #funding