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VCs aren’t your friends

As founder-friendly as VCs claim to be, they remain investment professionals. Many first-time founders are oblivious to this nuance, and are in for a rude awakening when they start their raise.

Yesterday, famous VC Jason Lemkin passed on a startup because the deck was dated from 2 months ago, which he saw as a negative signal. (By the way, the OpenVC pitch deck tutorial explicitly says to never include the date on your cover. Even if they barely open your deck, they want to increase their "coverage rate" and report a growing top of funnel to their LPs.

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