False Consensus Effect

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

The false consensus effect is defined by Wikipedia as the tendency for people to overestimate the degree to which other people agree with them.

Founders sometimes overestimate how others may share their beliefs.

They often mistake silence for consent in talking with investors.

Investors often nod in acknowledgment of what the founder says but this doesn’t mean they agree.

To overcome the false consensus effect, do the following:

Maintain awareness of the false consensus effect and realize not everyone has the same opinion as you.

Consider various viewpoints and how others may approach it from a different angle.

Consider how much your opinions come from your internal beliefs and personality rather than external factors such as the market and your environment.

View your opinions as if you were an independent observer to see how the deal looks based solely on external factors.

Break down your decision process into steps and verify the assumptions behind each one.  

From this, you can determine how others may view your deal.

Finally, this process can also apply to other persons considering your product.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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On this episode of Investor Connect, Hall welcomes Adam Besvinick, Founder and Managing Partner at Looking Glass Capital.

Located in Purchase, NY, USA, Looking Glass Capital is a pre-seed and seed fund that seeks to invest in and support mission-driven founders during the earliest days of company building. They are most inspired by entrepreneurs solving today's biggest challenges across health, climate, and empowerment (education; tools and platforms for SMBs; and products that enable access, identity, or self-expression).

Adam is the Founder of Looking Glass Capital, a pre-seed fund investing as a "first yes" or lead investor in non-consensus opportunities with independent conviction. Prior to starting Looking Glass, Adam invested for five years in pre-seed through Series C companies, including Transfix, BigID, One Concern, NomNom, and Plant Prefab, at Deep Fork Capital and Anchorage Capital Group.

Adam graduated from Harvard Business School, during which he worked part-time for Lowercase Capital, Gumroad, and a couple of other early-stage companies. He also co-led By/Association, an angel investor group, which made three investments. Prior to entering business school, he was a telecom investment banker at Jefferies and graduated cum laude from Duke University in 2009.

Adam shares his thoughts about investing as an angel investor, the economic reset in the venture capital world, and what it means to be in the age of resilience.

Visit Looking Glass Capital at lookingglass.vc/, www.linkedin.com/company/looking-glass-capital/, and on twitter.com/lookingglasscap.

Reach out to Adam at adam@lookingglass.vc , http://linkedin.com/in/besvinick, and on http://twitter.com/besvinick

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https:/_/tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact info@tencapital.group   

Please follow, share, and leave a review.

Music courtesy of Bensound.