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Yet Another (ex-)VC Blog

Cloud computing, startups, and venture capital

Sobering view of the Lean Startup Pivot

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Finally, when everyone else had their turn, the grey-haired VC turned to the founder and said, “If you do what we tell you to do and fail, we’ll fire you. And if you do what you think is right and you fail, we may also fire you. But at least you’d be executing your plan not ours. Go with your gut and do what you think the market is telling you. That’s why we invested in you.” He turned to the other VC’s and added, “That’s why we write the checks and entrepreneurs run the company.”

via Why Startups are Agile and Opportunistic – Pivoting the Business Model « Steve Blank.

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Written by John Gannon

April 12, 2010 at 11:00 am

Posted in Uncategorized

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