An introduction to the challenges founders face in investor meetings, and the importance of being prepared for the worst.

• Raising money involves figuring out how to handle meetings that can go wrong.
• Bad investor meetings can lead founders to question their company's existence.
• Being prepared for the worst can make you better off when it's your turn.

A recount of an investor meeting in London characterized by poor etiquette and power plays.

• The investor kept the founder waiting, ate lunch with his hands while picking his feet, and smoked in a closed office.
• This behavior was seen as a bizarre power play and did not result in investment.

Discussion on the status games played by investors and the shift toward founder-focused VCs.

• The financial world is full of status games, but a shift is happening toward valuing product and creation.
• Future successful founders will have their pick of builder-focused VCs.

An account of a meeting with a famous VC firm that went awry due to inappropriate behavior and lack of focus on the business.

• A VC's attempt to bond over language knowledge during an important pitch meeting felt inappropriate and a waste of time.
• This example highlights the importance of understanding an investor's process as their product.

A story of how a poorly planned attempt to seek more funding from seed investors backfired.

• Sending an email with the title 'Cash Crunch' and hoping for more funding from seed investors.
• The investor meeting resulted in no interest in investing due to a lack of a solid pitch and organization.

Advice on utilizing YC resources like the investor database to avoid bad investors and prepare for funding rounds.

• Use the YC investor database for feedback on investors and to prioritize meetings.
• Demo day gives founders control and agency in fundraising, with investors coming to them.

Anecdotes about investors playing mind games to test founders during pitches.

• An investor deliberately distracted a founder by noisily opening candy to see how they would react.
• Such tactics are used by investors to test founders, but may not be a good fit for a working relationship.

A recount of a failed investor meeting due to the founders' inability to decide who the CEO was.

• Failing to answer who the CEO was in a final partner meeting with a top VC firm led to an immediate rejection.
• This highlights the necessity for founders to have clear roles and answers to critical questions.

A story about an investor crossing personal boundaries by asking if co-founders were dating.

• The investor's question about the founders' personal relationship was seen as unprofessional and inappropriate.
• Good investors challenge founders respectfully and allow them to make the final calls.

Encouragement to stay focused on building a business, not just on investor attraction, and advice on avoiding negative investor influence.

• Founders should not rely solely on investor traction or feedback to measure success.
• Avoiding investors who can harm the company is more important than finding great ones.