We couldn’t wrap our heads around air mattresses on the living room floors as the next hotel room and did not chase the deal. Others saw the amazing team that we saw, funded them, and the rest is history... We made the classic mistake that all investors make. We focused too much on what they were doing at the time and not enough on what they could ... See more

Popular knowledge maintains that startups entering crowded markets face an uphill battle; they don’t have the experience or resources of their established counterparts, and the competition may quickly overwhelm them. Surprisingly, when I looked at my dataset, I observed that over half of billion-dollar startups faced multiple large incumbents at th

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