I got word from a VC yesterday that a deal is going to be more awkward to close on because of the lack of a CEO. My counter is that the founder techie has found an outstanding VP Engineering candidate who is very startup savvy and a world-class, hands-on leader of engineers. We'll see how that works on this seed round.
This is too often the case: an outstanding first time founder, typically a techie, comes up with an outstanding idea and is ready for funding but lacks the core team. Serial entrepreneurs understand this dilemma. They know the importance of the core team. That is why they can get more from an investor: they form their core teams before raising money. It is hard for introverts and techies who do not have a network of friends experienced with startups.
BOTTOM LINE: Spend equal time getting to know people while working on your cool idea. It may slow you down at first, but it can lead you to great people who help you get the money and get going. The alternative is paying a big percent to investors for your seed round, or not getting the money at all.