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Will you consider funding multiple startups working toward the same ideas?
The short answer is yes.
When you are backing as many founders as we do, it’s inevitable to end up with overlay in ideas. Even if we tried to not accept competing companies, ideas tend to morph and would eventually turn into overlap anyway. However, we will not talk to a startup about what the other is doing when they have similar concepts. This hasn’t been an issue in the past since most markets have room for several slightly different solutions and it is unlikely that two startups will end up doing the exact same thing.