M13 co-founder says communications is key to standing out in venture capital
Sharp, clear and persuasive communications are no longer optional for investors and founders, M13 co-founder Carter Reum said at an Axios event in Cannes.
Why it matters: In a world where "everything is commoditized," Reum said, differentiation depends not just on what you build, but how you explain it and bring stakeholders along.
What he's saying: "It's never been easier to start a company, but it's never been harder to be a successful company," Reum said.
He says their success comes from the commitment to take "a very hands-on approach and then we communicate it. In everything we do, we have to have that reason for being, that reason to win, and that has to be communicated effectively."
Between the lines: This also applies to the early-stage companies the venture capital firm invests in, he says.
"One of the things that I look for in founders today is the ability to inspire, and what I mean by that, and why that's so important is, when you're starting off, you have to inspire or persuade a customer to take a chance on you," he said.
"You have to persuade that key hire to come and leave their cushy job and come work for you. You have to inspire or persuade somebody like me to write you a $15 million check. And if you can do that every day, you have slightly better odds."
By the numbers: A plurality of Americans think founders and CEOs need a public persona, according to a recent Morning Consult.
Roughly 8 in 10 U.S. adults said a company's CEO affects their perception of that company, according to the survey.
Meanwhile, executive posts on LinkedIn have surged 23% since last year, according to LinkedIn data shared with Axios.
70% of Gen Z want to hear from CEOs across social media, while 55% say they'd listen to CEO interviews on podcasts
What to watch: Reum predicts AI will supercharge the way marketers and communicators work.
Because AI can expedite the creation of content, "experiential events [will] become more valuable," he said. "I think it's people like my wife, [Paris Hilton], who prided herself on authenticity, [who] become more relevant. Because a year from now, a third of the things you look at on Instagram will be AI."
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