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Dmitry Gurski

๐Ÿ‘ค Speaker
576 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Take me to that. How was the seed round? I think it was more kind of they just decided to invest to us because we had success before with apps, and it was not like a so big belief in our idea, but more belief that, ah, these guys will figure out something because they had success before. And I think they had arguments because it was so contrarian idea.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But probably it was the best or one of the best investment for the fund in the history of this fund. You are like a seed round investor or real estate investors. You just need one investment like that in your life and you're done. You will be rich.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But probably it was the best or one of the best investment for the fund in the history of this fund. You are like a seed round investor or real estate investors. You just need one investment like that in your life and you're done. You will be rich.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But probably it was the best or one of the best investment for the fund in the history of this fund. You are like a seed round investor or real estate investors. You just need one investment like that in your life and you're done. You will be rich.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But to the question, what is the most required trait of the founder? And my personal opinion is that founder must be crazy. Because if you are smart and you may understand your odds, why would you decide to start something with chances of success? Like one, two, three, four, five percent. It's better to play lottery. Smart people, they work in McKinsey. And founders, they're crazy.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But to the question, what is the most required trait of the founder? And my personal opinion is that founder must be crazy. Because if you are smart and you may understand your odds, why would you decide to start something with chances of success? Like one, two, three, four, five percent. It's better to play lottery. Smart people, they work in McKinsey. And founders, they're crazy.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

But to the question, what is the most required trait of the founder? And my personal opinion is that founder must be crazy. Because if you are smart and you may understand your odds, why would you decide to start something with chances of success? Like one, two, three, four, five percent. It's better to play lottery. Smart people, they work in McKinsey. And founders, they're crazy.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Because it's not rational. You're just crazy. You can't justify that by any rational thinking. Why would you do something with odds of success in 1%?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Because it's not rational. You're just crazy. You can't justify that by any rational thinking. Why would you do something with odds of success in 1%?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Because it's not rational. You're just crazy. You can't justify that by any rational thinking. Why would you do something with odds of success in 1%?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

I think times have come back. It was a period of time between approximately 2019 to 2022 when it was true, but nowadays It's quite difficult to raise capital. It's quite difficult. It's again the same. Was there ever an easy round to raise?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

I think times have come back. It was a period of time between approximately 2019 to 2022 when it was true, but nowadays It's quite difficult to raise capital. It's quite difficult. It's again the same. Was there ever an easy round to raise?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

I think times have come back. It was a period of time between approximately 2019 to 2022 when it was true, but nowadays It's quite difficult to raise capital. It's quite difficult. It's again the same. Was there ever an easy round to raise?

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Because venture capital investment is a default no game. And you may be very good, but in any case, you will get 100 no's to get one yes. And what's the most difficult for founders is that being in this mindset, when every day you're getting no, no, no, no, no, and it's soul-breaking. It's really difficult. Even layoffs are simpler because layoffs is like computation.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Because venture capital investment is a default no game. And you may be very good, but in any case, you will get 100 no's to get one yes. And what's the most difficult for founders is that being in this mindset, when every day you're getting no, no, no, no, no, and it's soul-breaking. It's really difficult. Even layoffs are simpler because layoffs is like computation.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

Because venture capital investment is a default no game. And you may be very good, but in any case, you will get 100 no's to get one yes. And what's the most difficult for founders is that being in this mindset, when every day you're getting no, no, no, no, no, and it's soul-breaking. It's really difficult. Even layoffs are simpler because layoffs is like computation.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

You're just in your three weeks and you continue your work. But fundraising, it's just like each day you're getting no, no, no, no, no, no, no, and you're starting to lose belief in yourself and you're starting to feel that maybe I'm not the right person. Did you lose belief in yourself? I had moments when I doubted that maybe we are doing something wrong and maybe I'm not the right person.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

You're just in your three weeks and you continue your work. But fundraising, it's just like each day you're getting no, no, no, no, no, no, no, and you're starting to lose belief in yourself and you're starting to feel that maybe I'm not the right person. Did you lose belief in yourself? I had moments when I doubted that maybe we are doing something wrong and maybe I'm not the right person.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

You're just in your three weeks and you continue your work. But fundraising, it's just like each day you're getting no, no, no, no, no, no, no, and you're starting to lose belief in yourself and you're starting to feel that maybe I'm not the right person. Did you lose belief in yourself? I had moments when I doubted that maybe we are doing something wrong and maybe I'm not the right person.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: From Potato Farm to $200M in Revenue: The Never-Before-Told Story of Flo Health: Scaling to $1BN Valuation, 75M Users & Getting 100s of No's From Investors Along the Way with Dmitry Gurski

For me, fundraising was also much more difficult because of my origins, my accent, and because I'm kind of not a kind of right profile and I was pretty weird type for investors it made my job of fundraising much more difficult do you think that made your job much more difficult do you think respectfully if you sounded like me as we said loo not toilet do you think that would have been easier