Richard Wilson: distinguish seed backing from a secondary purchase
In his introduction to Tim Draper, Richard made a specific distinction in an investor biography. Backing a company at the seed stage and buying a secondary interest later describe different participation.
The timing belongs in the biography
Richard emphasized the seed stage when introducing Draper. He then pointed out that somebody could make a later secondary purchase and describe themselves as having funded a familiar company. The recognizable company name alone leaves out when the investor became involved.
A credential needs a transaction description
This exchange concerns the precision of a credential. A biography can name the company, the stage and the form of participation. Those details let a reader understand the claim without assuming that every investor in the same company took the same early risk or helped at the same point.
In Richard C. Wilson's words
"nowadays anybody can invest in a secondary" (Richard C. Wilson, introducing Tim Draper in their recorded interview)
How to use this
- Include the stage when describing an investment credential.
- Separate an early backing claim from a later purchase of an existing interest.
Questions and answers
Where does the distinction appear?
Richard makes it in his opening introduction to Draper.
What information does a company name leave out?
It leaves out when and how the investor participated.