Nobel prizes have been awarded for the idea that the market is rational. Clearly, none of those economists or award judges have ever dealt with early-stage private equity, a.k.a. startup investing. That is the most obscenely irrational, inefficient market that I’ve ever dealt with. In that market, I wear multiple hats, and sit on all sides of the table. I’m a professional investor as at Fledge...
It is application season once again at Fledge, and with it, dozens of repeats of a very common first-time entrepreneurial mistake. A grand vision with multiple components, which as a whole, all implemented, all popular, would solve some problem or simply make people’s lives better. To the ears of the entrepreneur, it sounds wonderful. To anyone who doesn’t review hundreds of business plans each...
