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Totally agree that a smaller fee isn't such a bad thing and could be reasonable. But then I think that an entrepreneur is paying $150 or less for the opportuni
by Cmccann7 17y ago
Totally agree that a smaller fee isn't such a bad thing and could be reasonable.
But then I think that an entrepreneur is paying $150 or less for the opportunity to meet investors who might or might not ever invest in the company (actually they are prob more likely to not invest in terms of odds). So its paying for something that has a negative value, just a chance that they might be interested.
Also on the other side the investors should be cashed out entrepreneurs who have enough money to sustain themselves and are looking at companies to invest in and profit off of. Only seems fair that the investors should be footing that bill (even if its just administrative) and others like Chris Dixon agrees http://twitter.com/cdixon/status/9727260471 http://twitter.com/cdixon/status/9727260471
Hard to justify when the fee is such a small amount but it still feels wrong to charge entrepreneurs anything for an opportunity to pitch an investor group.
- ojbyrne 17y agoI don't see how a chance of a positive outcome has a negative value.
- evgen 17y agoThey must really love you in Vegas...
- ojbyrne 17y agoYou're right. I should have said "a chance of a positive outcome for (basically) free."
- gridspy 17y ago$150 might be one week's food.
- ojbyrne 17y agoOr an hour's labor. After taxes.
- gridspy 17y ago1) Not for a poor entrepreneurial student fresh out of college with a great idea but no track record. 2) Even for a professional, you can't get chunks of work exactly 1 hour long. There are huge set-up and tear-down overheads to any job, plus little issues like finding the job and getting paid. If you want to attract the next two MBA students, go ahead. If you want to attract the next two poor, clever hackers disinterested in a normal job - perhaps you have chosen the wrong approach.
- rms 17y agoThis is one of the main reasons why they are getting flack for it -- the $150 only matters to people of a certain class.