In partnership with

Hey, I’m Tim! ☕

What’s the magic number of cofounders? Is it 2? 3? …18?

While most startups have 2 cofounders, there’s a strong case to be made for 3.

Maybe the Powerpuff Girls, the Holy Trinity, or the Triumvirate had it figured out.

Three Cheers

In 2013, Aileen Lee founded Cowboy Ventures.

To inform her investment strategy, she studied startups that had grown to be worth more than $1 billion within 10 years.

The vast majority of them had three cofounders.

Fast forward 10 years, and they redid the study.

Industries evolved, geographies shifted, B2C made way for B2B, but one thing remained.

On average, unicorns had three cofounders — same as a decade ago.

Sure, there are plenty of successful 2-cofounder companies and even solopreneurs. On the other hand, OpenAI, the superunicorn of this decade, has 11 cofounders.

But there’s something about 3 cofounders that, when done right, is quite magical.

I think it comes down to the right kind of diversity.

Specifically, the right three.

The Three P’s

Forbes popularized the Hipster, Hacker, Hustler framework in 2012.

It’s catchy, but only covers one of the three P’s: perspective, proficiency, and power.

Maximum diversity in all areas at once can actually backfire.

The ideal combination is one low, one medium, one high.

Example 1

• High diversity of perspective

• Medium diversity of proficiency

• Low diversity of power

This is your typical met-in-a-college-dorm-and-started-a-company-together trio.

Another common combo is as follows:

Example 2

• Low diversity of perspective

• Medium diversity of proficiency

• High diversity of power

Perhaps a senior engineer has recruited two junior engineers to become cofounders.

The real problems arise when all areas are either low or high.

You either get a recipe for group think and herd mentality (all low). Or, you get the foundation for every dictatorship in human history (all high).

Whether you’re the Three Musketeers or the Three Stooges, finding the right balance is what makes a trio work.

You’re still lean enough to be fast, the workload is divided, but there isn’t much politics.

Every time you refer someone, you:

1. Look like a genius for finding Cherrytree.

2. Help fellow cofounders build their dream company.

3. Make my day.

Thanks y’all,

Tim He