Nick Crocker
speaker
748 appearances
1 recordings
1 series
first heard Jan 2023
last heard Jan 2023
Nick Crocker’s voice in public audio — every appearance, attributed to the second.
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Appearances
The thing that we talked about that just doesn't make sense to me is that when people talk about businesses, I just don't understand how they can really know unless they actually know the founding team.
And you just can't get that unless you are.
It's one of the best things about VCs.
When you're the first investor and the company is three people, you actually get that.
But I just don't know how as a public markets investor, you could make a decision about management without going and actually getting to know them.
And so I think that's probably an unpopular view.
I probably think there'll be people here like, you are an idiot to hear me say that.
And maybe I am, but that's the thing that I can't resolve in my head that seems that other people have resolved.
I still think startups are super underrated.
The opportunity to invest a million dollars to be the first million dollars.
And what's a million dollars?
It's five people for a year and a half.
You're like, it sounds like a million dollars.
It's like, I hope to be a millionaire.
And so it still has a country kind of, you see the sort of articles like entrepreneur makes $40 million overnight.
And you're like, no, they sold $40 million of product and you don't know the margin because you don't know how much they paid to acquire those customers.
It's not $40 million in their pocket.
So I'm always like, you know, if I say I had a barbecue, yeah, we invest about a million dollars into seed rounds.
People's minds explode at the size of that amount of capital.
But it's five people for 18 months.
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