Nyc Seed UnVC
17
VCs are for Scaling and, then only maybe.
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I happened to be giving this pitch the day after tony@zappos disclosed his Sequoia issues publicly, so i rewrote the whole pitch. VCs are great for scaling sales forces once that\'s the challenge. They push hard to invest a lot sooner, because that\'s the best way for them to repeatedly exercise their Pro Rata rights to invest (which is their best way to make money). All Pro Rata exercises come straight out of the Common, DNPGDNCTHD. And, early investors get (and deserve) a lot of governance in most cases. And, freedom/control is why I do what I do, which should be true for many of you as well. Find Customers; Find Angels; Find Strategics.
Transcript of Nyc Seed UnVC
- 1. VCs are for Scaling and, then only maybe.
2. @rafer, rafer.tumblr.com &[email protected] 3. Why I Sold Zappos 4. Why are you here? 5. Freedom and Control 6. Funding can Matter 7. Nature of FundersMatters More 8. Mortgage Houses not Startups 9. Angels vs VCs vs Strategics 10. Super Angels, arent 11. Portfolio Theory 12. On the 5-person board, only two of us were completely committed to Zappos's culture. 13. Pro Forma Right to Invest 14. All or nothing 15. Freedom and Control 16. But our board of directors had other ideas.
