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ANGEL: Freestyle’s Jenny Lefcourt on nailing non-consensus bets and avoiding hype | E1704
This Week in Startups
The Importance of Social Proof in Deals
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I don't even write it off to social proof as much as everyone started to understand that if you were early in a deal that assuming success right almost like treat it like a lottery ticket so take the later stage folks if they got in earlier then if the company's doing well and they get to watch they can plow more capital into it. So people started to kind of overpay almost like a Lottery Ticket for these companies I think that caused a lot of problems, he says.
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