I sat through a session organised by TiE,Bangalore of Francisco Santolo the founder of Scalabl – Argentina based Academy of Entrepreneurship and innovation, during his recent trip to the city. He had some radical views and an endearing personality making him instantly likeable. His core message was – the current VC funded startup ecosystem is broken. And in this article in Medium he explains why. It is useful to look at alternate thought processes from time to time to ensure you are doing what is right for your dream and not what is expected in the current discourse of building a startup. If you follow my posts you will know I do agree with a lot of this line of thinking and have followed and written about Rand Fishkin and others who have contrarian views to the current discourse.
Francisco makes his point around how the current VC industry functions, how and who will get funded (hint : not necessarily the most deserving ideas or teams), how the investment contracts are fundamentally adversely poised for the entrepreneur and his formula of the Early Stage Startup Success : Knowledge + Community + Purpose + Hard work + Emotional Intelligence.
Where I learnt this # 273
Beware of experts | Don’t get lured into the Startup Ecosystem