The prevailing belief in venture capital emphasizes investing in standout founders—often heralded as ‘jockeys’—over the ideas or ‘horses’ they bring. This approach stems from the notable successes of founders like Mark Zuckerberg and Elon Musk, making ‘venture is a game of jockeys, not horses’ a guiding principle in Silicon Valley. However, guest columnist Dan Gray highlights research challenging this notion, suggesting that this founder-first strategy might be flawed and that the quality of the idea or business itself also holds critical importance.
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