Alice Bentinck, co-founder of Entrepreneur First, advises founders on early-stage fundraising risks associated with friends and family rounds.
0:00 / 0:11exact quote · 11.2s
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“As a founder, you want to be taking money from people who understand how startup investing works who understands the risk and how long it takes to get a return. And often friends and family isn't the best place to find that.”
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Insight
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Insight
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AssertionNot checkable as stated
Pre-idea investing was considered stupid when Entrepreneur First launched
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Disclosure
Entrepreneur First selects individual founders rather than pre-formed teams
“At EF, what we focus on primarily is co-founders. So we don't select teams, pre-formed teams. We select individuals.”
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Insight
Founders waste months trying to craft perfect startup ideas
“They assume that unless they have the perfect idea, there's no point in even getting started. And they spend months, if not years, trying to craft the perfect idea, which just doesn't exist.”
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