Sep 6
Evidence of the Pivot, by Fred Wilson of Union Square Ventures
Of the 26 companies that I consider realized or effectively realized in my personal track record, 17 of them made complete transformations or partial transformations of their businesses between the time we invested and the time we sold. That means there a 2/3 chance you’ll have to significantly reinvent your business between the time you take a venture capital investment and when you exit your business.
Also check out Eric Ries' post on the Pivot.
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pivot
I also wonder whether startups can increasingly afford to do the pivoting pre-investment as the costs of technology decline.