“I hate investing in second-time founders,” the VC told my class. “I’ve been burned too many times.”

If you’ve spent much time with VCs, you know they rarely operate in absolutes. Everything is situational. But not this VC when it came to second-time founders. His response was so immediate, concise, and specific that I had to find out more, so I followed up…

This part of the post made me go "oh yeah. That's obvious." And I'm a first time founder.

The problem with second-or-third or fourth, or whatever number - founders is that once they've done it, they think they've seen it all. They think they don't need to do more to catch that VC fish.

It's kinda like dating, your first date is special... Your first this, and that is special, but the second time or third time, you've caught the fish, but you now can become a serial dater, sex addict, or whatever.

A lot of these second-or-third, or fourth, or whatever times - a lot of these founders aren't hungry enough to get the VC check. They think because of their credentials, the fish is very easy to get.

That's what I got from them. That's why the hundreds of rejections the first time founder faces.

Because the VC thinks HE seen everything. But these VC's don't know everything, bro.