Comments on: AngelConf – my notes from Angel Investing conference

By: chris mccann

chris mccann — Tue, 17 Mar 2009 23:21:01 +0000

Here is the AngelConf video from Justin.tv including a transcript and notable quotes I wrote up from all the speakers check it out http://tinyurl.com/d8tpzd

By: Capital Booster » Archives du Blog » AngelConf blurbs

Capital Booster » Archives du Blog » AngelConf blurbs — Tue, 10 Mar 2009 23:12:33 +0000

[...] if you want some more… [...]

By: Gweedo

Gweedo — Tue, 10 Mar 2009 17:32:38 +0000

“Will the company benefit from your advice?”

Any investor who thinks he’s there to give advice, is one to avoid. One whose capable that you might choose to run questions by would be ok, but so many of these investors I meet think that they know a whole lot more than they actually do, and the experience is, they give really terrible advice– company destroying advice.

And if you don’t follow their bad advice? They try to oust you and replace you with their guy, who will follow their advice and run the company into the ground.

Policy should be: MONEY ONLY.

No ratcheting either– every investor is equal. No board seats. No advice.

If you think we can’t survive without your advice, don’t invest. IF you invest, then STFU unless we ask for your advice.

By: Gweedo

Gweedo — Tue, 10 Mar 2009 17:27:37 +0000

“If the startup cant be one of the big billion dollar businesses, not worthy of your time. We want the big deals in the end, be apart of the excitement.”

I bet every single one of the companies that are actually onto something like this, he will pass on, because he doesn’t understand it .

Notice also that this exhibits the standard investor attitude– “We want you to bet it all on a longshot”.

They don’t want *businesses* they want google, and so your company that could be a $100M business in 5 years will be forced to try to be a $1B in 3 years.

And when it fails, your effort is wasted, but they don’t care– they’ve got another dozen lottery tickets to get their gambling fix with.

By: Gweedo

Gweedo — Tue, 10 Mar 2009 17:25:22 +0000

The reason they won’t sign NDA’s is that they are gossips. Everytime I visit the bay area within a day or to I’m up on the status of all the startups, I know things I shouldn’t know, I know whose going under, whose got what technology, etc. Often, apparently, before the CEOs of these companies know, because VC firms will tell each other things they don’t have the guts to tell the CEO!

Ever notice how anything that would protect a company from vultures, like NDAs, is considered an indicator that you’re clueless? And of course, you don’t want to be clueless, so you don’t stand up for yourself.

Granted, an NDA isn’t really that useful because even WITH an NDA these people can’t be trusted.

But the entire funding culture in the bay area, at least, is designed to separate you from your equity for little or no money.

By: links for 2009-03-08 « Blarney Fellow

links for 2009-03-08 « Blarney Fellow — Mon, 09 Mar 2009 00:09:24 +0000

[...] » AngelConf – my notes from Angel Investing conference – By Steve Poland – web startup ideas and br… (tags: business startup) Possibly related posts: (automatically generated)My daily readings 10/17/2008test 03/31/2008test 02/17/2008Microsoft offers second app for iPhone [...]

By: Thomas Lukasik

Thomas Lukasik — Sat, 07 Mar 2009 02:51:33 +0000

Thanks, Steve.. that is a very useful, interesting and incredibly informative post.

I feel as if I’ve just finished reading a book on Angel Investors!

You’ve presented a surprising and vivid picture of the diversity of attitudes and behaviors within a group that one might otherwise have thought would (individually) think more consistently or (collectively) share a more common set of guidelines or rules.

By: Icarus but with real wings: Silicon Valley angels still flying towards opportunities » VentureBeat

Fri, 06 Mar 2009 23:30:44 +0000

[...] check out the recorded video or the quotes below, as excerpted from the post by Hornick and from serial entrepreneur/investor Steve Poland’s coverage. VentureBeat investor Aydin Senkut, who spoke at the event, has a post with his takeaways [...]

By: Jonathan Volk

Jonathan Volk — Fri, 06 Mar 2009 18:59:27 +0000

Wow! Lots of great tips!

Thanks for writing the notes!

~JV

By: wayne lambright

wayne lambright — Fri, 06 Mar 2009 07:02:38 +0000

Naval your a hypocrite. You just don’t have money or the balls to invest if you did you would have invested in my Tastyr or Imagedepsoit both of which we spoke about on two different occasions, You sent me the first email fishing for investment opportunity, you’re a deal slut, where are your deals publicly. Man up.