"I still don't get it"
A dear friend and early-stage investor said to me about a company he had invested very early in - as we continued to discuss it since then as the company continued to raise larger and larger rounds led by Tier 1 one investors.
I didn't get it from the start and never invested (or tried to) and we both agreed it was not clear what value they were building - and as they raised another large round he said - "I still don't get it".
All our conversation including this latest one was NOT about the company not being a good one OR the investor hype being unreal BUT IT WAS ABOUT intellectually trying to figure out how we have thought about it since the start (he as an investor, me as one who didn't invest), what we are missing, are we missing anything, what do we take away to put back into our "system of investing" and how we can come out as better and stronger investors for our own good.
I often see discussions around "I don't get it" as trashing a company or an investor which may be missing the mark entirely - every time you come across the "I don't get it" scenario it is YOUR BIGGEST LEARNING OPPORTUNITY.
The jury's still out for me about this company - I still don't get it either :)
I didn't get it from the start and never invested (or tried to) and we both agreed it was not clear what value they were building - and as they raised another large round he said - "I still don't get it".
All our conversation including this latest one was NOT about the company not being a good one OR the investor hype being unreal BUT IT WAS ABOUT intellectually trying to figure out how we have thought about it since the start (he as an investor, me as one who didn't invest), what we are missing, are we missing anything, what do we take away to put back into our "system of investing" and how we can come out as better and stronger investors for our own good.
I often see discussions around "I don't get it" as trashing a company or an investor which may be missing the mark entirely - every time you come across the "I don't get it" scenario it is YOUR BIGGEST LEARNING OPPORTUNITY.
The jury's still out for me about this company - I still don't get it either :)