Maples: Skipping startup steps leads to fake growth
Mike Maples · 20VC: Floodgate's Mike Maples on 3 Key Breakthroughs Startups Experience in Success, The Rise of Angel and Operator Funds, Multi-Stage Funds Re-Entering Seed Investing and The Insight Development Framework · May 11, 2020 · at 5:42
Mike Maples Jr. of Floodgate explains why raising excessive capital early can cause startups to skip critical stages.
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“I believe that you can't really skip a step. You got to have an insight before you do customer development, and you got to do customer development before you do smart growth. And so to the extent that raising too much too soon Causes people to skip those steps. I think that's when they get in trouble and start to engage in fake growth.”
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