Thanks Paul.
Quick comments:
- "Ideas change".
I agree but, as I say in the post, this is true only at very early stages, and the best companies tend not to pivot. But this is a personal opinion.
- "Could a team of idiots with a great idea get funding? To give a pathelogic case, could a team with an amazing idea to change social networking, made up of unproven non-coders in a distributed team spread across the Eastern Europe, get funding? No."
I say this on the post, so I don't see what the comment is about. I say that after the idea, the investors look at the team and decide if they are the ones that can execute on it.
- "Again, different investors are different. There are plenty who look at the team first."
This might be true, what I'm saying in my post is that unconsciously I think that the idea you present yourself with will definitely change their opinion about the team. It's a hypothesis that comes with my observation of the funding market. I could be totally off.
- "Any team worth anything will pivot away from a bad idea."
See my last point about pivots. I agree with this, but again, this needs to happen at the earliest stages possible.
Thanks for your comments btw!