Most orthopedic founders view Venture Capital as a black box or, worse, a necessary evil. But if you want to play the game, you have to understand the math. Based on a classic essay by Marc Andreessen, here is the "unvarnished truth" about how VCs actually think—and why they might be passing on your revolutionary new pedicle screw.
1. The Baseball Model: 10x or Bust
VCs don't play for "solid singles." They operate on the baseball model:
7 Strikeouts: Most startups fail.
2 Base Hits: Some break even or make a small profit.
1 Home Run: The "unicorn" that pays for all the strikeouts.
Because o...
