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Is "team" a measure of how good the team is in general, or how well-suited they are to the area they've chosen to build a startup in?

Everyone always says team without elaborating on what that means. It seems to me it’s generally a shorthand for how many of your founders/employees went to Harvard, Stanford, Yale, etc. You can’t say pedigree these days because that doesn’t fit with the current Bay Area politics.

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