Venkat Mocherla

Yeah. I, you know, the thing, the advice I always give entrepreneurs, including I give this to myself and others I've been fortunate, either I've been invested in or mentored, which is the equation first you have to think through on this is first is the market and the customers. Second is the team. And third is the capital. And so, you know, when you think about

Yeah. I, you know, the thing, the advice I always give entrepreneurs, including I give this to myself and others I've been fortunate, either I've been invested in or mentored, which is the equation first you have to think through on this is first is the market and the customers. Second is the team. And third is the capital. And so, you know, when you think about

Does the customer fundamentally want what you're selling and what you're making? Do you have that proof point? And do you have the best team you could find? Everyone doesn't have access to the same people, but whatever team that you could go build for solving this particular customer set, if those two are a slam dunk, Scott, every investor in the world would want to invest in you.

Does the customer fundamentally want what you're selling and what you're making? Do you have that proof point? And do you have the best team you could find? Everyone doesn't have access to the same people, but whatever team that you could go build for solving this particular customer set, if those two are a slam dunk, Scott, every investor in the world would want to invest in you.

And so that's just a... like a sort of a high level advice I always have, because so often entrepreneurs are so excited, which makes sense to get that term sheet. They want the term sheet from, you know, the top tier investor, Andreessen, whatever it is. And they go for that versus what is the substance of what you're making, who you're selling to and who's your team?

And so that's just a... like a sort of a high level advice I always have, because so often entrepreneurs are so excited, which makes sense to get that term sheet. They want the term sheet from, you know, the top tier investor, Andreessen, whatever it is. And they go for that versus what is the substance of what you're making, who you're selling to and who's your team?

Just if you focus on that support, the thing about incubators, accelerators, et cetera. And by the way, I think Y Combinator is world class at what they do. I think it's just not for everyone. That's the one caveat, which is that I think in healthcare, it takes a village, I think like I was saying, to be successful.

Just if you focus on that support, the thing about incubators, accelerators, et cetera. And by the way, I think Y Combinator is world class at what they do. I think it's just not for everyone. That's the one caveat, which is that I think in healthcare, it takes a village, I think like I was saying, to be successful.

And if you're gonna go build a software for health systems, well, having the right angel investors on your cap table might be more helpful than having, who have successfully navigated health systems might be more helpful than having an incubator or an accelerator. The other thing you have to be really thinking about is like the equity exchange you're having.

And if you're gonna go build a software for health systems, well, having the right angel investors on your cap table might be more helpful than having, who have successfully navigated health systems might be more helpful than having an incubator or an accelerator. The other thing you have to be really thinking about is like the equity exchange you're having.

I think Y Combinator is quite fair in what they do. I think it's 7%. But I've seen some really high equity asks. So being thoughtful of that. I do think Y Combinator has done a good job of becoming a phenomenal brand for investors to come to. But it's no guarantee that just because you went to one of these programs, you're going to get downstream financing. And so my...

I think Y Combinator is quite fair in what they do. I think it's 7%. But I've seen some really high equity asks. So being thoughtful of that. I do think Y Combinator has done a good job of becoming a phenomenal brand for investors to come to. But it's no guarantee that just because you went to one of these programs, you're going to get downstream financing. And so my...

Again, I go back to some fundamentals that are simple. Are you focused on making the right thing for the right customer set? And then do you have the right team? And then obviously, look, I'm not going to discount how hard it is to network. If you're not in Silicon Valley, if you're not in New York, if you're not in one of these core markets, these are relationships. You've got to build them.

Again, I go back to some fundamentals that are simple. Are you focused on making the right thing for the right customer set? And then do you have the right team? And then obviously, look, I'm not going to discount how hard it is to network. If you're not in Silicon Valley, if you're not in New York, if you're not in one of these core markets, these are relationships. You've got to build them.

You've got to network.

You've got to network.

The one thing I'll sort of say, Scott, is that I think that entrepreneurs also have to understand that funds and investors come in all sizes. So if you talk to a multi-billion dollar fund, they want to make sure that if they underwrite your investment, that you're a multi-billion dollar outcome.

The one thing I'll sort of say, Scott, is that I think that entrepreneurs also have to understand that funds and investors come in all sizes. So if you talk to a multi-billion dollar fund, they want to make sure that if they underwrite your investment, that you're a multi-billion dollar outcome.

So if you're a billion dollar fund and they're going to invest in you and they own whatever, a fifth of your business, you better be a $5 billion outcome as, as sort of whatever IPO exit, et cetera, versus going to a $300 million fund or a $50 million fund.

So if you're a billion dollar fund and they're going to invest in you and they own whatever, a fifth of your business, you better be a $5 billion outcome as, as sort of whatever IPO exit, et cetera, versus going to a $300 million fund or a $50 million fund.