Is it really possible to get VC funding when all you have is a version 1 out of the garage? I was under the impression that investors wanted to see traction before putting in serious money.
It is, but it's less likely. I should have phrased that better. What I meant by out "of the garage" was the end of the really dynamic period of the company. You can be physically out of the garage with an angel investment but still be constantly changing your mind on macro decisions. By the time you're at a series A, you're generally more certain of your direction.
From what I've seen, the person who is good at the really dynamic thinking part is not necessarily good at the focus and execute part and vice versa. Being a CEO of a larger company can actually be really boring for a dynamic, hyper-inventive type. I used to fancy myself as a technical CEO until I got a better understanding of the role. A great CEO is priceless and a great inventor is priceless. If it's the same person, then great. But there is no need to force it if it's not.
