"Turpentine VC" | Venture Capital and Investing

E7: How Floodgate Differentiated Again From Thousands of Seed Firms

87 snips
Sep 19, 2023
Mike Maples, Jr, co-founder of seed firm Floodgate, discusses the importance of forcing choices, evaluating founders before they start a company, and navigating the challenges of venture capital. They explore patterns of successful startups, referencing strategies, YC's unique economics, and the qualities of successful investors. They also discuss the challenges of playing fair in the market and the opportunities for startups.
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INSIGHT

Force a Choice

  • Force a choice, not a comparison, to differentiate your startup.
  • Make your offering so unique it can't be compared to existing solutions.
ANECDOTE

Floodgate's Origin

  • In 2005, raising a million dollars for startups in Silicon Valley was challenging.
  • Floodgate started by addressing this gap, offering smaller checks.
ADVICE

Predicting Great Founders

  • Predict who will be a great founder and connect with them pre-startup.
  • This pre-emptive relationship building fosters trust and simplifies future collaborations.
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