The declining cost of stamps (of approval)

As promised in the last post about our dinner with Fred Wilson, our chairman Saul Klein has just written a great piece (one might even say manifesto) on his blog expanding on the idea that validation in its many forms still matters, but thankfully it’s never been easier for a first-time entrepreneur to obtain.

There is nothing more validating at an early stage than a team that shows how they can bootstrap with limited resources to produce something which solves a real problem and that people want.

First timers who have come through YCombinator or Seedcamp have real validation. They have been filtered in the application process, they have had feedback from smart, experienced entrepreneurs and investors and they have plugged into the collective wisdom of their peers.

This is powerful stuff. So its not surprising that for many investors, teams who have been through these programs have a real mark of validation that makes it a lot easier to take an investment risk on a first timer.

You can read the whole thing here: From First Timer to Funded — Valuing Validation

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