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Yeah, I think the frustrating thing about angel fundraising is that it isn't really fair. You're smart, you've got a good idea, but no one really wants to inve
by webwright 17y ago
Yeah, I think the frustrating thing about angel fundraising is that it isn't really fair. You're smart, you've got a good idea, but no one really wants to invest in you unless you've already succeeded with a previous idea/company OR your current idea is already succeeding.
In other words, they are looking for a small-but-growing fire in a huge/dry forest they can throw gasoline on. Most people on that list are a little pile of wood that needs a spark. And they are in a foggy stand of trees that MIGHT be a forest, but might just be a few trees on a hillside. Vast majority of investors aren't in the spark business, they are in the gasoline business.
http://twitter.com/joshk/statuses/8034018934 http://twitter.com/joshk/statuses/8034018934
- epi0Bauqu 17y agoYou're right, but perhaps it is slowly changing. YC et al. have shown funding sparks in small amounts makes sense. That should trickle down eventually. For me personally, I could see investing in sparks if the teams were right. At that level, you need to really believe in the people. It's hard when they have no history, but I think connections are possible. In particular, as a hacker entrepreneur, I think I can decently spot other people with that mentality.
- cookiecaper 17y agoIn short, no one wants to give you money unless you don't really need it. It's been true for a long time, and almost all lenders operate that way.
- bhousel 17y agoAgreed. The analogy with the fire is spot-on. I've also heard: "If you ask for money, they'll give you advice. If you ask for advice, they'll give you money."