https://techcrunch.com/2022/04/25/sapphire-ventures-cathy-gao-on-how-vcs-can-help-early-stage-startups-weather-volatility/

When we talk about early-stage startups, we tend to focus on the internals — and understandably so. It’s easiest to home in on the things you can control: developing products, building a team, finding the right investors.

All are important and foundational to developing a startup, of course. But as much as we’d like to believe that the right product developed by the right team is enough to ensure a firm’s success, things in this world are never that simple.