Wayne Chang shares his mental model on how top founders manage psychology and leverage during venture fundraising pitches.
0:00 / 0:11exact quote · 11.6s
720p mp4 · rendered on demand · StarZero watermark
“You're not selling your idea to them. You need to get them to sell their dollars to you. VCs are in the business of trying to get their capital and their money accepted by great entrepreneurs.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
(the analysis reads context, assessments check outside sources). how →
More from Wayne Chang
Opinion
Founders who stretch a $1M seed round over six years are weak
“What would be the worst for me is to hear, you know, six years from now, same entrepreneur comes back. Hey, Wayne, thanks for the million dollar check. I was able to make it last for six years. That to me is the worst type of entrepreneur because they, they're…”
Wayne ChangSep 8, 2017▶ 13:3820VC: How To Run The Perfect Fundraising Process, Why Time Kills All Deals & Why You Have To Get VCs Out Of The Board Room with Wayne Chang, Serial Entrepreneur & Angel Investor
Insight
Taking pitch meetings with outbound VC associates is a waste of time
“If it's an associate reaching out saying they want to talk and learn more about it, when I hear that, what I'm hearing is they're just trying to pump as much information out of you and then put into a database somewhere and send it to the partners. And those t…”
Wayne ChangSep 8, 2017▶ 21:5520VC: How To Run The Perfect Fundraising Process, Why Time Kills All Deals & Why You Have To Get VCs Out Of The Board Room with Wayne Chang, Serial Entrepreneur & Angel Investor
Insight
Founders should never tell VCs which other investors they are meeting
“You never reveal who you're talking to the others, because VCs will always try to back channel each other. So you says entrepreneur raising, I believe you should never reveal while you're fundraising, who else you're fundraising from. That's only to your detri…”
Wayne ChangSep 8, 2017▶ 18:0920VC: How To Run The Perfect Fundraising Process, Why Time Kills All Deals & Why You Have To Get VCs Out Of The Board Room with Wayne Chang, Serial Entrepreneur & Angel Investor
Insight
Founders should prioritize speed and quality over cost when building
“What I believe my big bias is the two qualities you pick should be speed and quality, which means what you're giving up is the cost of it, which means it might be more expensive to produce higher quality things faster.”
Wayne ChangSep 8, 2017▶ 11:3920VC: How To Run The Perfect Fundraising Process, Why Time Kills All Deals & Why You Have To Get VCs Out Of The Board Room with Wayne Chang, Serial Entrepreneur & Angel Investor
Insight
Raising under $150,000 is one of the biggest mistakes founders make
“So one of the biggest mistakes I hear is entrepreneurs raising so little capital. They're saying, I just need 50,000 dollars to do this, or I'm just going to raise You know, 75, 150,000 dollars, which gives very little room for error or experimentation and giv…”
Wayne ChangSep 8, 2017▶ 12:1120VC: How To Run The Perfect Fundraising Process, Why Time Kills All Deals & Why You Have To Get VCs Out Of The Board Room with Wayne Chang, Serial Entrepreneur & Angel Investor
PredictionNot checkable as stated
VC power dynamics and egos will never disappear despite market shifts
“I think visually it might be dying, but I think ego so much ingrained as part of human nature that I think that would never go away. It might be mass. I still know a lot of VCs that have mega power ego trips.”
Wayne ChangSep 8, 2017▶ 17:0420VC: How To Run The Perfect Fundraising Process, Why Time Kills All Deals & Why You Have To Get VCs Out Of The Board Room with Wayne Chang, Serial Entrepreneur & Angel Investor
Made with StarZero
Turn any episode into a week of clips.
This entire site, over 1,200 episodes transcribed, diarized, checked and made playable,
runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the
moments worth sharing, cuts them, captions them, and reframes them for every feed.
We use essential cookies to make the site work. With your permission we
also use analytics cookies (Google Analytics and Mixpanel) to understand
usage and improve StarZero. See our Cookie Policy.