Seth Sternberg, founder and CEO of Honor, outlines his three essential criteria for evaluating prospective venture capital board members.
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“It's like, do we like each other? Do we agree on the vision? And do we agree on the tactics at a high level? And then from there, it's a lot of nice to have. But I think those three are the core.”
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More from Seth Sternberg
Opinion
Sternberg: 80% of VCs detract value from board meetings
“I, more than anything, because I kind of have this theory, I think about 80% of VCs, frankly, detract from the value of the kind of board in the discussion. I think 10% are neutral, and I think 10% are really positive.”
Seth SternbergMay 18, 2018▶ 13:4220VC: 3 Questions Founders Must Stress Test VCs with, What Separates the Good From The Great VCs & Why 80% of VC Detract Value From Board Meetings with Seth Sternberg, Founder & CEO @ Honor
Insight
Sternberg: Firing poor-fit employees quickly benefits the employee long-term
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Seth SternbergMay 18, 2018▶ 5:3420VC: 3 Questions Founders Must Stress Test VCs with, What Separates the Good From The Great VCs & Why 80% of VC Detract Value From Board Meetings with Seth Sternberg, Founder & CEO @ Honor
Insight
Sternberg: Building a startup to flip leads to destructive short-term decisions
“If you're building to flip, you'll make short-term decisions, and that will come back to bite you.”
Seth SternbergMay 18, 2018▶ 15:3520VC: 3 Questions Founders Must Stress Test VCs with, What Separates the Good From The Great VCs & Why 80% of VC Detract Value From Board Meetings with Seth Sternberg, Founder & CEO @ Honor
Insight
Sternberg: Mission-first startups force distinct operational and hiring choices
“When you start with a mission first, you make a lot of different choices, and you also end up with a very different kind of team”
Seth SternbergMay 18, 2018▶ 3:5620VC: 3 Questions Founders Must Stress Test VCs with, What Separates the Good From The Great VCs & Why 80% of VC Detract Value From Board Meetings with Seth Sternberg, Founder & CEO @ Honor
Insight
Sternberg: Sales and marketing require distinct people, not combined roles
“I always wanted these kind of what I now call unicorn people to fulfill a unicorn role. Like, why do you need to pay for both a salesperson and a marketing person? Can't they just be one person? And second time around, you recognize that they're actually reall…”
Seth SternbergMay 18, 2018▶ 4:3820VC: 3 Questions Founders Must Stress Test VCs with, What Separates the Good From The Great VCs & Why 80% of VC Detract Value From Board Meetings with Seth Sternberg, Founder & CEO @ Honor
Disclosure
Sternberg: Honor hires small, highly selective engineering teams of 10x talent
“We are building the tech teams in really similar ways, so there are a few different philosophies on how to build a tech team, but what we do is extraordinarily selective, but low numbers of engineers, so it's really hard to find engineers that we want to work …”
Seth SternbergMay 18, 2018▶ 6:3520VC: 3 Questions Founders Must Stress Test VCs with, What Separates the Good From The Great VCs & Why 80% of VC Detract Value From Board Meetings with Seth Sternberg, Founder & CEO @ Honor
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