It is the mid 2000s. I'm pitching a web app idea. I'm connected to a VC and we meet for coffee. He listens for five minutes, calls a colleague, who was nearby and joins us within 10 min. They listen patiently. Then they recommend that I "just build it" without VC. Why?
Because the multiplier isn't enough for them. However, they know the idea would be valuable to a specific niche market.
They tell me of a group in Chicago building something similar and releasing their underlying framework called Rails. It will help launch the idea without all of the overhead and time required with Java or .NET.
So I built it. I launched it. While it didn't make millions, it gave me deep insight into launching a web app in the web 2.0 era, all as a side hustle.
The VCs were right. I didn't need their money. I needed a bigger idea. I needed to execute first. So I did.
Sometimes the best thing you can get is a "no" to kick you in the back side and get moving.
It also proves that some VCs first want to help others, while some see you first as a money multiplier.
I was once pitching in a board room at a top 3 VC firm for a $15M Series A.
12 people in the meeting. One of the GPs fully fell asleep. Out cold for 30 minutes. Nobody acknowledged it. Everyone just kept going.
I kept presenting my Series A slides to an unconscious man in a Herman Miller chair and somehow that was considered normal. That's venture capital.
You might fly across the country to perform for people who may or may not be conscious.
It's a dance.
And sometimes you lead and sometimes you follow and sometimes your partner is unconscious.
If you're raising right now, just know: every founder has a story like this. The process is weird. The power dynamic is weird. You're not crazy for thinking it's weird.
No one talks about it because they want to continue raising. But I'm happy to stick my neck out there.
It is weird.