What’s the best way to understand how your VC thinks about your business?

Fred Wilson (Co-Founder and Partner at Union Square Ventures)
From The Archives: The Poker Analogy – AVC

Early stage venture capital is a lot like poker. The first round is the ante. I think keeping the ante as low as possible is a good thing. I like to think of it as an opportunity to play in the next round and to see the cards. Clearly, we don’t ante up to just any deal, but it is very useful to think of the first round as the ante. For the first year or 18 months, however long the first round lasts, you get to “see your cards”. You learn a l… (read more)