Wildcatters are the ones who create the breakthrough companies - the ones worth backing early. Without them, the risk-managed funds wouldn’t have anything to invest in.
In fact, over 75% of today’s top tech giants were originally passed on by most big firms and it took a wildcatter to believe first.
The truth is, wildcatters don’t need the big funds. But the big funds absolutely need wildcatters and we don't want to lose them, we need more of them, not less.
Love this post!
Wildcatters are the ones who create the breakthrough companies - the ones worth backing early. Without them, the risk-managed funds wouldn’t have anything to invest in.
In fact, over 75% of today’s top tech giants were originally passed on by most big firms and it took a wildcatter to believe first.
The truth is, wildcatters don’t need the big funds. But the big funds absolutely need wildcatters and we don't want to lose them, we need more of them, not less.
I really like the dichotomy of 2% vs 20% VCs. It’s sort of obvious in hindsight but not something I’d heard called out so directly.