⛔ 45 reasons VC investors say “no”
Also, 69% of Europe’s climate tech unicorns were created last year, $53T electric vehicle market opportunity, self-awareness and wrongdoing rarely go together
Good morning, folks.
In today’s 3-minute read, we’ll cover these 5 nuggets:
Climate Startups & Investment
#1 — 69% of Europe’s climate tech unicorns were created last year 🦄
#2 — Why the VC investor told you “no” ⛔
#3 — Which EVs are for sale in the U.S.? ⚡
Productivity & Living the Good Life
#4 — Be a problem solver, not a problem adder. 📣
#5 — There’s often vomit at crime scenes. 🤮
Hope you enjoy it.
Chris
#1 — 69% of Europe’s climate tech unicorns were created last year 🦄
Repeat after me:
I. Am. Not. Too. Late. To. Crush. It. In. Climate. Tech.
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For more delicious morsels, check out The Biggest Opportunity in Climate Tech — in Numbers from consulting giant BCG.
As a teaser, consider these:
$4 trillion — Global clean energy investment needed annually by 2030 to reach net zero by 2050
We have a long way to go.
“Global investment in the energy transition totaled $755 billion in 2021.”
18 — Number of direct air capture plants in operation globally
We need many more because “the carbon pollution already put in the air will push global temperatures to about 2.3 degrees Celsius (4.1 degrees Fahrenheit) of warming since pre-industrial times.”
8 — Number of supply chains that make up more than 50% of global GHG emissions
We are not tracking this well.
“In 2021, 71% of companies reported their Scope 1 and 2 emissions, while only 20% reported on emissions associated with products and goods they purchase (Scope 3).”
#2 — Why the VC investor told you “no” ⛔
“The day-to-day reality of being a VC is that we spend ~99% of our time saying ‘no.’ It’s a core competency of any VC.”
Here’s a list of 45 reasons they might pass a company’s capital raise.
Maybe it’s about you. Or maybe it’s about them.
“The reason for the ‘no’ often has little to do with the founder or the details of the business, but lots to do with that VC’s personal interests, portfolio, or history.”
#3 — How many EVs are for sale in the U.S.? ⚡
28.
Ready to buy? Window shop?
Check ‘em all out, in a beautiful visual from the Visual Capitalist.
Why should startups and investors care about this mainstreaming of EVs?
BloombergNEF estimates the size of the electric vehicle market opportunity between today and 2050 to be $53 trillion (in their Economic Transition Scenario). 🤯
#4 — Be a problem solver, not a problem adder.
Here’s a jewel from James Clear.
What kind of person are you?
“One type of person approaches a situation with the mindset of, “How can I make this work?”
Another type seems to approach each circumstance with the mindset of, “What are all the reasons this wouldn’t work?”
Both people will be forced to deal with reality.
The first person will only have to solve problems that actually occur.
And the second person will often avoid taking action entirely because of the potential problems they have dreamt up before starting.
There will always be reasons to not do something. Be a problem solver, not a problem adder.”
#5 — There’s often vomit at crime scenes. 🤮
“The person who does wrong, does wrong to themselves.” - Marcus Aurelius
It can literally make us sick. But it might take us a while to realize it.
To reinforce this, here’s a bumper sticker quote:
“Self-awareness and wrongdoing rarely go together.” - Ryan Holiday
Finally, tell me what you think.
That’s all, y’all.
Make it a great week, because it’s usually a choice.
Chris
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Chris Wedding
Founder @ Entrepreneurs for Impact
Climate CEO peer groups | Podcast