Most founders won’t realize that they’re on the wrong track until it’s too late.
That’s because failure is something many entrepreneurs can only perceive in hindsight: the day-to-day work of building a startup requires a high degree of confidence — and for some, denial.
Quoting the movie “Grosse Pointe Blank,” perhaps this column by Haje Jan Kamps will be “a swift, spiritual kick to the head that alters your reality forever.”
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In his experience, there are three reasons why some startups will never get a thumbs-up from a investor:
the market is too small;
the team is not good enough;
the plan doesn’t make sense.
These are all major problems, but here’s the good news: these are only existential issues for ego-driven founders. People who can accept they don’t have all the answers are able to pivot to success.
On the other hand, those who look in the mirror and see Captain America smiling back tend to make poor CEOs.
Have a fantastic weekend — go touch some grass.
Walter Thompson
Editorial Manager, TechCrunch+
@yourprotagonist
With $10T on the line, 6 fusion investors explain why they’re all in
Image Credits: Bryce Durbin / TechCrunch
Until December 2022, no one had achieved fusion ignition, the point at which the reaction produces more energy than is required to produce it.
“There’s still a long way to go, but net-positive controlled fusion is no longer just theoretical,” writes Tim De Chant.
To get an investor’s perspective on this nascent technology with a multi-trillion-dollar TAM, he spoke to:
Katie Rae, CEO and managing partner, The Engine
Phil Larochelle, partner, Breakthrough Energy Ventures
Joshua Posamentier, managing partner, Congruent Ventures
Alice Brooks, principal, Khosla Ventures
Wal Van Lierop, founding partner, Chrysalix Venture Capital, and board member, General Fusion
Thai Nguyen, partner, MCJ Collective
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Upgrading AI-powered travel products to first class
Image Credits: Westend61 (opens in a new window) / Getty Images
When it comes to integrating AI with travel, “even a small lead matters right now,” according to Eric Crowley and Adam Segall of global investment bank GP Bullhound.
Today’s consumers can create their own itineraries, but it still requires guesswork:
Can I walk to the beach from my hotel with a surfboard? Which restaurants near this conference center have vegan options?
In this TC+ post, Crowley and Segall share advice for founders working on AI-powered travel products: “At this early stage, our firm and other investors in the space we work with don’t have an expectation of perfection.”
Why Europe and Israel’s unicorns are producing the next generation of tech founders
Image Credits: cerro photography (opens in a new window) / Getty Images
According to a report from global venture firm Accel, a “flywheel of inter-generational talent spawning from unicorns” is helping Europe and Israel maintain momentum even as deal flow and funding have slowed globally.
“Our data reveals that 221 of the region’s 353 VC-backed unicorns have fueled 1171 new tech-enabled startups through their alumni,” writes Harry Nelis, a partner with the London-based company.
Warming public markets are boosting the secondary market for startup shares
Image Credits: skodonnell / Getty Images
Follow-on investment may be harder to obtain, but Alex Wilhelm reports that “the combination of seller pessimism and modest buyer optimism” is driving an “uptick in secondary market activity.”
Interpreting data from Caplight, Forge, Other Information and PitchBook, he concluded that the increase may signa