Surprising How Little Data Goes Into a Decision

The single most surprising thing has been recognizing how little data these guys have to go on. I had an inkling that would be the case, but especially coming from a PE background where we diligence the heck out of everything, have tons of historical info from the company, typically have industry studies, 3^rd party experts, etc, seed stage venture guys (which is decidedly where [my firm] sits) have next to nothing to go on. Their feel for the entrepreneur, how the idea sounds, most importantly, reference checks on the entrepreneur and their team… and that’s about it.