I have been interacting with founder friends regularly. Most of them are working hard to sail on their journey. Some of them are seasoned and, some are out in the fundraising market. Their observation says privilege has switched sides. I am not sure if it is permanent or temporary.
An incident a founder shared a few days back where a marquee fund’s associate dropped a few times their alma mater, some Ivy League. In reply, the founder asked how many startups they have built. The call got over politely. He stopped the further conversation with the fund.
With all the money floating around in the ecosystem, the privilege has switched sides. Now founders are deciding whom to take money. As a founder, this is a perfect time for building a startup.
For a VC fund and the team, just dropping a pedigree will not win them a deal. One has to work extra hard and show them their worth for it.