Great article, James.
Reny Harding
1

Is this in San Francisco? That’s a key determinant… While it’s true everywhere that execution > idea, it seems to me that in SF, the overwhelming bias is that execution requires a tech co-founder (unless your idea is decidedly un-tech, in which case you may not get funding anyway because the other bias in SF is to tech/software kind of businesses that have high margin/growth potential [of course these are not the only businesses with such potential, but biases work like that]).

Once you ask yourself that question, you have to look at the strength of your network, since that’s what fundraising is based on. If you’re the son of another VC well… that probably significantly affects your chances!

Aside from all that, I don’t think VCs have tolerance to wait. Ideas are almost never unique in today’s world. I went to a networking event where the icebreaker was to come up with an idea in groups and then pitch. One group’s idea was basically a carbon copy of an app already on the market (down to the cute name), and they swear they hadn’t heard of the other app yet.

Good luck!

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