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That's a horrible idea. Whoever is in charge of this fund is responsible for dolling out 100mm of other people's money. How in the world does this group of in
by katzgrau 8y ago
That's a horrible idea.
Whoever is in charge of this fund is responsible for dolling out 100mm of other people's money.
How in the world does this group of investors responsibly filter and vet 10,000 suitable companies in a time effective manner? How do you effectively keep track of the founders and the money?
Are checks being written to 20 year olds without much scrutiny in the hope that a unicorn shows up without any real statistical basis for expecting such an event? I'd steer clear of that fund.
- Sileni 8y agoEh, call it a non-profit or charity. Give the kids who show promise in tech a chance to just start running instead of taking the typical college route. I doubt it'd be on the scale of 10k companies, but a thousand a year? That could be doable. Have the contracts be very generous towards the "students", and try to make up the difference with donations and alumni contributions. It'd essentially become a new form of secondary education, a trade school for tech in a sense.
- rwmj 8y ago> How in the world does this group of investors responsibly filter and vet 10,000 suitable companies in a time effective manner? How do you effectively keep track of the founders and the money? Sounds like whoever solves this will go on to be a very successful VC. Perhaps an application for AI, or a crowd-sourcing model?