This is a true story. I was there. The details are possibly not exact, and the quotes are paraphrased, but the essentials are true. A startup founder was pitching to 22 local investors. The group had asked him to pitch because we liked his summary materials. He was local to us and had an interesting product. But he got screwed.
Normally, after every pitch, after the founder has left and we’re alone, the group takes time to discuss what we saw and heard. In this case, the room was quiet for a few seconds. Then one of us said:
“One thing we know for sure … if we invest in that guy, he’ll be blaming us for it later.”
He didn’t get the investment from us. Do you know why not?
This morning I saw this question in Quora, the world’s best question and answer site.
I’m answering here first.