Reference Check
Talk to the people who have worked with a founder and get past the rehearsed praise to the real signal.
When to use
- A deal is deep in diligence and the team is the bet.
- A founder's story needs corroboration from others.
Steps
- Choose references beyond the founder's hand-picked list.
- Ask behavioral questions about real situations, not traits.
- Probe gently on weaknesses — how they show up, not whether.
- Corroborate the founder's own account of key events.
- Weigh the pattern across references, not any single voice.
Output
A reference summary: the consistent signals, the concerns, and how they bear on the [[Investment thesis]]. Feeds the memo the operator decides on.