I usually find PG’s writing to be very illuminating, but I largely disagree with this piece.
I think the reason founders want introductions to influential people is not because they think that this is what you need to be successful. It’s because they have seen many cases where influential people talked up startups that seemed to be pretty mediocre, and it helped them succeed. And they think “well my startup is at least as good as those other ones, so publicity by famous people will accelerate our path to success.”
They’ve seen press coverage of lousy startups propel them into fundraising successes and growing revenues, even if they never became profitable. And they think “I’d succeed faster if my legit startup had that kind of exposure.”
It’s not that they think these things are a substitute for having a good product. They think (correctly) that having these things will accelerate their growth and somewhat lower the bar to success (particularly if there are network effects involved).
What makes you say that? For early stage startups, it seems especially likely that increased awareness can (though usually will not) create a material amount of additional success.
I know that a few fortunate tweets my startup received drove tons of traffic our way, and likely resulted in the press coverage we received soon after. And that press coverage brought more users, and also the proof points of having been covered by major media. That makes fundraising and partnerships easier, etc.
I think the reason founders want introductions to influential people is not because they think that this is what you need to be successful. It’s because they have seen many cases where influential people talked up startups that seemed to be pretty mediocre, and it helped them succeed. And they think “well my startup is at least as good as those other ones, so publicity by famous people will accelerate our path to success.”
They’ve seen press coverage of lousy startups propel them into fundraising successes and growing revenues, even if they never became profitable. And they think “I’d succeed faster if my legit startup had that kind of exposure.”
It’s not that they think these things are a substitute for having a good product. They think (correctly) that having these things will accelerate their growth and somewhat lower the bar to success (particularly if there are network effects involved).