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Dan Romero
@dwr.eth
Welcome to the first Founder's channel Office Hours! What's on your mind?
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Cassie Heart
@cassie
Why are so many VCs stuck in the mindset that “innovation can’t happen outside of SF/NYC/London”? I’ve literally had a pitch meeting where a VC asked where I was calling from and after answering Kansas, asked with a pitying face, “why?”
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Dan Romero
@dwr.eth
They live and die by pattern matching.
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woj
@woj.eth
from my experience, a median vc fund today is just a financial vehicle to dump LP funds into startups that fit a thesis median vc don't care that much about the potential win, but about looking smart in front of their investors and raising the next fund investing outside hub creates one more question to answer to LPs
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Syed Shah🏴☠️🌊
@syed
Dorothy and the wicked witch of the west in a conference call. Prob cuz the talent that's young and hungry migrate to those place and so odds of success are higher there. If you can't afford to move there you prob don't have enough traction. So it acts as a natural filter for earliest stage where risk is highest. idk
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links 🏴
@links
It’s where they find the kind of founders they want: young, hungry, not many outside commitments. It’s also where they want to be. The biz of VC attracts people who like status. Makes it harder to find money if you don’t live there, but that may be a good thing ;)
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Alex Palmer
@thatalexpalmer.eth
Might be coming from LPs that dictate what a "safe bet that will return the fund in 5-8 yrs" looks like. Especially newer early stage funds, I've noticed. I'm getting this questions asked a lot as well (we're fully remote, I live in Toronto and we're setup in NYC with the corp/office/lawyers).
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Alok Vasudev
@alok
if you do move, at least you'll get to say to the VC's "we're not in kansas anymore"
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Moeen 🎩
@moeen
Agreed on this
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