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That must be a cultural thing then. In europe the 'no' is loud and clear, when it's no.

What does happen is that VCs are careful not to burn their bridges, they'll not feel comfortable enough to invest but they can't rule out that you'll pull some rabbit from an otherwise empty hat in the future and then they don't want to have the door completely closed.

This is indeed quite common. But when it's 'no', it really is 'no'.

Another typical VC disease is to want to be the second investor in your company, but never the first.




"No" probably does mean "no", but you're lucky if you hear "no", because VCs have so many ways to avoid using the word "no".

"Maybe" is so much more expensive than "no".

I'm pretty sure Paul Graham wrote about this in "How To Fund A Startup", but I don't have time to read and he doesn't like being misquoted.




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