Credentials or Chemistry?

INTRO

Hey, I’m Tim! ☕

When you chose your cofounder, was it a gut decision or a pros-and-cons spreadsheet type of thing?

Turns out, your gender might’ve played a bigger role than you think.

I came across new data that reveals how men and women pick their cofounders differently.

Let’s unpack it — and what it means for your cofoundership.

DEEP DIVE

“Chemistry might bring two people together, but it is quiet, consistent everyday effort that makes a relationship truly remarkable.” — Beau Taplin, author & poet.

Cofounder Criteria

Here are the key findings from a study by Steven M. Gray and his team, published in the Academy of Management journal:

1. Male entrepreneurs tend to select cofounders based on their credentials (expertise, connections, capital, experience).

2. Female entrepreneurs tend to select cofounders based on their chemistry (personality, trustworthiness, familiarity).

3. Women also adapt their selection strategies based on their own perceived legitimacy (valuing resources more when their own are limited).

4. There was not a single scenario in which men favored the chemistry piece (perhaps to play to the biases of investors, who themselves tend to be men).

They also noted that those who prioritized credentials were rated more favorably by investors while those who prioritized chemistry were less likely to disband during the first year.

Of course, these are generalizations, and like any social statistic, there's bound to be a bell curve.

As the researchers said, “you really need both ingredients.”

TIM’S TAKE

Chemistry is King

Think about it.

You’re going to spend more time with your cofounder than anybody else in your career. Everyone calls it a marriage.

It’s literally a movie trope to marry someone just because they’re the child of a billionaire or they hold a fancy job title — and be miserable.

Why would you do that with your cofoundership?

Also, you’re going to develop skills as you go. I’ve talked to dozens of cofounders who broke up and it was never because of their credentials when they became cofounders.

That’s where men get it wrong.

Well, you could say that positioning yourself to secure investment is a way to fast-track your growth.

That would be reassuring, except 75% of VC-backed companies fail to return cash, and nearly half of those liquidate completely and leave investors with nothing.

Women don’t get it entirely right either.

Putting aside chemistry and looking for someone with more credentials/resources when you’re low on them is the smart move in theory. But that’s exactly when you need chemistry the most.

If you don’t have much to offer (yet) while they have everything, and you don’t get along, why would they need you?

So how do you find the sweet spot?

Start by looking at who you have chemistry with, then narrow it down to the person you feel the strongest connection. If you both lack credentials, find a trustworthy advisor.

If no one stands out, choose the one with the best credentials out of the people you have chemistry with. From there, build your relationship first and then the business.

Sounds simple, right? It’s like basic arithmetic: straightforward in theory, but mix up the order of operations and the whole equation falls apart.

The cofounders of NUMI met at a previous workplace. While they were both decently good at their jobs, it was how well they got along and their shared worldview that made them become such great cofounders.

On the other hand, the cofounders of Metaversity definitely had world-class résumés but did not vibe and had to split up. It almost killed the company.

In the end, chemistry builds empires — credentials just get you in the door.

Related Resources

• In the first episode of Rookie Mistakes, Dalton Caldwell and Michael Seibel (partners at YC) discuss cofounder mistakes.

• If you’re looking for a cofounder, check out StartHawk for an online platform and join LFC.DEV's in-person meet-ups in NYC for face-to-face connections.

• Missed a Cherrytree edition? Tsk tsk, but I’ll let it slide. Grab a coffee and hit the archive to get all caught up.

LAST LOOK

Make sure your cofounder sees this — either pass it along or get them to subscribe. A solid relationship takes everyone's effort.

Looking for a cofounder coach? Hit reply.

PS: Sometimes I think about my cofounders’ credentials and it still blows me away. I’ll never admit that to them though.

Tim He
Founder & CEO

BTW