…just stop investing, if
1. you really believe that excels drive business to the decimal points. My Two Cents: When was the last time you were practical.
2. you think that passion and passion alone can let startups survive month after month without a peanut being earned by the team. My Two Cents: Live a day on peanuts and then lets talk.
3. you think you can use your tranche to muscle out an extra benefit that you are ethically, morally or legally not entitled to. My Two Cents: How did you miss the point that your earlier tranches could be at stake?
4. you expect things in a lean startup to happen the way they happen in powerhouses and established organizations. My Two Cents: Be our guest for just one day.
Clearly, I am not talking about all investors and no I am not Rahul Yadav. One question that irks me though – why do you only get excited by valuations. Look at building a business, a brand or a culture for which you would not just get your multiple, but also a page in history.
Side Note: If you can’t care enough for your portfolio company’s employees, vendors, and customers (let alone founders), maybe FDs are better investment vehicles for you.