Andy Dunn
8.7K posts

Andy Dunn
@dunn
A founder of Bonobos, Pie, Monica + Andy, and Red Swan. Author of Burn Rate: Launching a Startup and Losing My Mind. 🎢 Posts on startup, leadership, culture.


New from me in @wsjCMO: Pie, the new-ish app from by Bonobos founder Andy Dunn, named Nadya Okamoto as its CMO. It's an interesting hire as Nadya is now known predominantly as a TikTok celeb, but in the healthcare world made her name as the founder of period brand August...


I was featured in the @nytimes this week. They asked me what reasons I've seen VCs pass on founders for. There's an unspoken language in startup land called "anti-signal" ... these are the subtle red flags that make an investor not want to invest. I don't agree with all of them, but these are the ones I've seen after talking with hundreds of VCs: 1. You took part in a pitch competition (why are you on a stage competing for $10,000?) 2. Your deck is too polished (signals you are desperate for capital) 3. You're too available (the more available you are, the less valuable your time looks) 4. You reply too slowly (speed is an edge. Slow responses read as low competency.) 5. You have a bad eye for design (in consumer, taste is everything) 6. Your writing is full of AI tells (outsource your voice, and they wonder what else you've outsourced) 7. You don't know your numbers (TAM, CAC, retention, burn. Self-explanatory.) 8. You're "always fundraising" (always fundraising reads desperate, and never building) 9. You say you have no competitors (reads as naive and under-researched) 10. You're raising too late (two months of runway signals desperation and bad planning) 11. You have low energy (early on, the founder is the product. If you can't bring conviction, why should they?) I don't agree with all of these, but this is what I've seen in the field. Part of being a venture-backed founder is learning to play the fundraising game and knowing when to challenge the assumptions behind it. What did I miss? P.S. the good VCs will know how to look beyond these anti-signals ;)


INSTEAD OF WATCHING AN HOUR OF NETFLIX TONIGHT. This 1 hour Stanford lecture by Joel Peterson will teach you more about negotiation and getting what you want than most people learn in years. Bookmark it and give it an hour, no matter what.

Defy the Gods. Watch the New Trailer for Christopher Nolan's The Odyssey and experience the film in theaters 7 17 26.





