VCs hear 30 to 50 pitches for every deal they make. Instead of sitting through formal presentations, they should spend time building relationships with founders and deciding based on that, not the pitch.
Most VCs want to listen to— they want to screen 200 companies for every investment they make. They're going to listen to, I don't know, 30, 40, 50 pitches for every one investment they make. And we just don't have the time to spend on the pitches. So we've said we've got to spend time with the entrepreneurs, supporting them, getting to know them, building the relationship. So we have to invest in a different way. We have to invest without the pitch.
