30/52: What I Really Look for in a Founder

#CapitalAtRisk

Above: Things Hidden Since the Foundation of the World by René Girard

The 2010s was the decade of the Entrepreneur.

The 2020s will be the decade of the Investor.

“It is not difference that dominates the world, but the obliteration of difference by mimetic reciprocity, which itself, being truly universal, shows the relativism of perpetual difference to be an illusion.”

René Girard

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Same old, same old…

It’s easy to find plenty of founders with a good deck, strong metrics and a well-rehearsed story. Sure, that’s needed, but I’m afraid some investors think that’s enough.

The best founders I’ve backed often didn’t look the part on paper. Their idea was obscure and their traction was minimal. But they had something else — something I could only spot by doing the work most people don’t, and can’t.

The quiddity search

I’m guided by the search to understand quiddity — the very essence of someone or something. When evaluating founders that means who they are when they’re under pressure, how they navigate uncertainty, and the way they conduct themselves when no one ‘important’ is watching.

Investors agree that certain traits are key — resilience, determination, purpose etc — it’s easy to come up with a list of traits but most don’t have a system, or simply the patience, to uncover whether a founder has those traits or not. So they either convince themselves without any real evidence or they guess.