It's a long established tradition for startup founders to fudge their numbers, exaggerate projections, and cherrypick data in meetings with investors. But Venrock health investor Bob Kocher says this approach won't fly with him. He's looking for two qualities from entrepreneurs: integrity and honesty.
"I hear spin every day. I believe I'm lied to more often in Silicon Valley than at the White House," says Kocher, who formerly worked as a special assistant to President Obama to help shape the Affordable Care Act. "I'm looking for entrepreneurs who will level with me."
As a journalist, I understand where Kocher is coming from. Getting the truth out of an entrepreneur often feels like pulling teeth. (A snapshot of a typical conversation: "How many customers do you have?" No comment. "And what do you do specifically?" An end-to-end care management platform for enterprise systems.)
Are you an investor or entrepreneur? Share your thoughts with me on Twitter (@chrissyfarr), please. I've got a story brewing. CF