Link to the video: https://x.com/thethomasjacob/status/1715836007835218371?s=20
I think he says something that instantly people love hearing. Everyone loves to diss on VCs. A lot of it is justified. But in the context of Indian startup ecosystem, I think we're still very early, and have very few VCs in contrast to how it is in the US.
I'd say in India, the 70% wouldn't stand true. It has taken a lot of good bets, and the right approach, for couple of the Indian born VCs to become multi 100Mn$ funds today
Him saying that is projecting he is in the other 10%, and it being a hot take works very well for him. Well played sir!
That being said he also built a legendary company who's products are still used as default mainstay in the banking world so I guess he's giving his two cents on the issue.
That being said I think there is some truth to the fact that some VC's may not be in the best position from an experience point of view to advise on your company. And the advice may even be harmful. I'm sure the opposite is true as well as they can give you fresh perspectives.
69% of statistics are made up.
The man's a legend, and also brutally candid about his ilk.
https://x.com/abhi_agarwal4/status/1715021893219078569?s=46&t=nRD_q4JdZxNQ0LE5Wo1afg
He's also a bit of an ass himself for doing this:
I’m looking for startup ideas VC would be interested in.
