Perspective, Pontification and Propoganda about Entrepreneurship and Venture Capital, brought to you by David Hornik of August Capital.

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Sean Hanley

I see no problem with conservative projections - market conditions dictate that it makes sense to play safe. You can have meaningful but 'conservative' projections.

However, pitching that you will outperform your own projections shows immaturity.

aa

I'd do David one better: I've observed that the more a team pitches its projections as conservative, the more aggressive the projections tend to actually be.

Ven Reddy

Having been on both sides of the table, the phrase "these numbers are conservative" is uttered by the entrepreneur to show the VC:

What a hot market space the company is eyeing and (more importantly) after you fund us "we will beat those numbers."

OR

There is _no_ way you would ever believe our original numbers, so we'll play it conservatively and not get questioned/ripped into.

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