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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: GV's Tom Hulme on Why Investing in Foundation Models is like Investing in "Power Stations", The Conventional Wisdom in VC that is BS & Lessons from a 24x Angel Track Record, 255x on Robinhood and Making Billions on Uber

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

NOTE

Founders’ unfair advantages don’t need to come from domain expertise

In the startup world, success can come from both a naive approach with extreme speed of execution and a specialized approach with deep industry knowledge. Naive founders can succeed by leveraging their speed, constantly iterating, and bringing in specialist expertise when needed. On the other hand, founders with deep industry experience have the advantage of understanding customer needs, leading to successful exits. The key is to understand the balance between inside knowledge and willingness to learn. Speed of execution is crucial in startups, with founders needing to prioritize answering critical questions efficiently rather than aiming for perfection before launching.

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