You have to get comfortable with rejection when you're launching a start up... especially #biotech. You will hear from investors, partners and even colleagues you either don't have what it takes as a founder or your science won't work/ make a difference. Prove them wrong. Black Swann Consulting Group can be part of your journey to do so! Pessimists are right 99% of the time but optimists are the ones who change the world! #Biotech #Innovation #Startups #LifeScience #TechBio
In 2009, Gary Vee had the opportunity to invest in Uber's angel round at a $10M valuation. He passed, twice. ?? At the time: → Uber was just an idea and its founders had full-time jobs. → Gary was already writing $25k checks to Twitter, & Tumblr. Gary was very close friends with Travis Kalanick and Garrett Camp, Uber's co-founders. He was even in the room when the company was invented. But he didn’t write that check. Why? In part because he had just bought an apartment in NYC and had less cash, but also because he had seen his own side hustles fail and wasn’t convinced Uber would succeed. His perspective shifted 2-years later. Uber's founders asked Gary and his brother AJ to test the app. AJ took the first Uber ride in NYC and Gary immediately recognized his mistake. He invested as soon as he could. In his own words: → “I realized Uber didn't sell transportation, it sells us time. The reason this infrastructure matters in an app is because it's just seamless, there's less friction." This was a costly mistake. When Uber went public, Gary missed out on a $345 million opportunity - had he written his typical $25k check. And he wasn't the only one. Mark Cuban also passed, despite being an investor in Kalanick's previous startup. To this day, Gary considers it: → "the greatest mistakes of his investing career." Founders - just because they say "no" today, doesn't mean it won't work. Prove them wrong. ?? Follow me @Hugo Rauch for your daily dose of startup ?? For more deep dives, subscribe to my newsletter