It’s not about the ratio

So Fred Wilson posted a controversial topic 2 days in a row and he attracted a lot of comments from women.

You can read it here and here.

Basically his message is that he is happy that 30-40% of USV’s investments have at least one female founder. His aim is to reach 50%.

Like my post in early January, it is NOT about the ratio. It shouldn’t be.

If you look at the data shared by Fred as below, number of female founders are still very much lower than male founders, albeit the trend is rising.

Why is that? And does it matter for the number to be higher? Maybe there are not enough women who want to start a business.

What I’m interested is to see if there’s enough results that show companies which are founded by women perform better than companies founded by men. If that’s the case then yes we should encourage women to be more entrepreneurial and then it will attract more VCs to fund them.

That’s when the ratio makes sense. The problem is, supply is just not there. And perhaps quality. I may be discriminating my own gender, but that’s the truth.

So stop talking about the ratio and start improving the quality.

The last thing we want, is another Theranos. It’s disgraceful.

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