4 ms·

Can we at least agree that the $150 is very reasonable relative to what the worst offenders of this practice charge? If you get 100 applications and can only t

by htsh 17y ago

Can we at least agree that the $150 is very reasonable relative to what the worst offenders of this practice charge? If you get 100 applications and can only take 5 in an OAF event, there are still 95 other candidates of which some might find $150 to be a nominal cost to avoid this sort of scrum. Its admirable that folks are protecting startups from obvious scams but its dangerous to get overprotective when the end result is that you remove a reasonable option from the table. For $150 you get a sit-down with smart people and will at the very least get practice pitching under pressure and good feedback. And at $150, we're talking picking up the tab for a nice steak dinner, which is something you've advised numerous times. If these dudes have invested in companies they met through this type of forum, all the better. And there's a certain amount of due diligence an entrepreneur should be expected to do -- no need for the rest of us to protect people from their own stupidity.

gridspy 17y ago
YCombinator pays entrepreneurs up to $600 in travel charges to have the chance for YC to interview them. What does that tell you about the value of lowering the barrier to pitch?
- jasonmcalacanis 17y ago
  That, is an excellent point. I think there are many young folks who would not come if they didn't do that, just like there are folks who won't apply to NY Angels for $150. Frankly, there are better models coming into the space like TechStars, TheFunded/Founders Institute, YCombinator and ycombinator. It's never been a better time to be an entrepreneur.... except for 1979 in software, 1994 in the internet, 2003 in the internet and, well, now. :-)
jasonmcalacanis 17y ago
Because it is so low there really is no reason to charge it. I wonder how many they get a year and what this equals in terms of revenue. I'm guessing they get 1,000+ a year. So, it's $150,000 out of the gate I'm guessing. Feels icky and I'm sure $25 would have the same effect. It's clear this is for making money from my perspective. That being said, I don't think they are bad people and they certainly are not the Keiretsu Forum charging $1,500-$6,000 to pitch... or that Mike Segal guy asking for 5% of your business and $10k+!!! The fact that they have to explain themselves shows how much the tide has turned. I'm an entrepreneur first and an angel investor second... so, I've built the Open Angel Forum from a startups perspective. These folks are angel investors and they don't always see the other side of the coin.
- MediaSquirrel 17y ago
  Dude, it's really great to have heavyweights like you out there advocating for this stuff. When I wrote my original post, I got slammed by a lot of people and didn't get a lot of vocal support. http://www.metamorphblog.com/2010/02/is-ny-angels-a-paytoplay-scheme.html http://www.metamorphblog.com/2010/02/is-ny-angels-a-paytopla... Honestly, I think entrepreneurs are scared to speak up and offend rich people with power and money. If you're the only one who sticks his head out, it gets cut off. And so nothing changes. Now, I'm a bit more like you in that I've got something of a chip on my shoulder and I don't give a fuck, but regardless, thank you for having my and all our backs on this. -Matt Mireles
  - aswanson 17y ago
    Thanks to you for calling bullshit on these guys in the first place. This predatory stuff turns my stomach. And it is good to see Calacanis et al cosign. This is just bad for the industry in general.

by htsh 17y ago

gridspy 17y ago

YCombinator pays entrepreneurs up to $600 in travel charges to have the chance for YC to interview them. What does that tell you about the value of lowering the barrier to pitch?

jasonmcalacanis 17y ago
That, is an excellent point. I think there are many young folks who would not come if they didn't do that, just like there are folks who won't apply to NY Angels for $150. Frankly, there are better models coming into the space like TechStars, TheFunded/Founders Institute, YCombinator and ycombinator. It's never been a better time to be an entrepreneur.... except for 1979 in software, 1994 in the internet, 2003 in the internet and, well, now. :-)

jasonmcalacanis 17y ago

Because it is so low there really is no reason to charge it. I wonder how many they get a year and what this equals in terms of revenue. I'm guessing they get 1,000+ a year. So, it's $150,000 out of the gate I'm guessing. Feels icky and I'm sure $25 would have the same effect. It's clear this is for making money from my perspective. That being said, I don't think they are bad people and they certainly are not the Keiretsu Forum charging $1,500-$6,000 to pitch... or that Mike Segal guy asking for 5% of your business and $10k+!!! The fact that they have to explain themselves shows how much the tide has turned. I'm an entrepreneur first and an angel investor second... so, I've built the Open Angel Forum from a startups perspective. These folks are angel investors and they don't always see the other side of the coin.

MediaSquirrel 17y ago
Dude, it's really great to have heavyweights like you out there advocating for this stuff. When I wrote my original post, I got slammed by a lot of people and didn't get a lot of vocal support. http://www.metamorphblog.com/2010/02/is-ny-angels-a-paytoplay-scheme.html http://www.metamorphblog.com/2010/02/is-ny-angels-a-paytopla... Honestly, I think entrepreneurs are scared to speak up and offend rich people with power and money. If you're the only one who sticks his head out, it gets cut off. And so nothing changes. Now, I'm a bit more like you in that I've got something of a chip on my shoulder and I don't give a fuck, but regardless, thank you for having my and all our backs on this. -Matt Mireles
- aswanson 17y ago
  Thanks to you for calling bullshit on these guys in the first place. This predatory stuff turns my stomach. And it is good to see Calacanis et al cosign. This is just bad for the industry in general.