Wilson: User value and team quality matter more than early business models
Fred Wilson · Fred Wilson, USV // Data Driven NYC #18 // Sep 2013 (interviewed by Matt Turck) · Dec 19, 2013 · at 41:49
Fred Wilson, co-founder of Union Square Ventures, answers an audience question at Data Driven NYC about what early-stage startups must demonstrate to earn venture funding.
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“I don't care about the business model because we can tweak the business model. We can get the business model right. What I care about are do you have users and are they getting value out of your product and how much value they're getting out of your product and like what's your net Net promoter score. I'm using that in, in quotes because I don't really mean your net promoter score, but the way net promoter score is calculated, it's like, would you tell your best friend to use this product, right? Like, that's what I care about. Have you built something that people give a shit about? Does it make their life better? And, you know, are more and more people gonna come knocking on your door to use your product? And that's, Like, that's what we look for. Really, at the end of the day, that plus a good team, that's it.”
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