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If you do start your own VC firm, take these considerations into account: _____________________________ So far, the "design spec" for the next-generation vc s
by ph0rque 18y ago
If you do start your own VC firm, take these considerations into account:
_____________________________
So far, the "design spec" for the next-generation vc seems to be:
1. Invests $250-500k
2. Gets back to the applicants with a yes/no decision in 24 hours (can't find the pg essay).
_____________________________
Taken from here: http://news.ycombinator.com/item?id=163717 http://news.ycombinator.com/item?id=163717
- tptacek 18y agoVirtually no modern VC gets back $250k-500k decisions to applicants in 24 hours.
- ph0rque 18y agoThat's the point (see the referring link for pg's discussion on why this would be a lot closer to ideal.)
- tptacek 18y agoThere is a world of difference between cutting 8 $20k checks from 100+ applicants and cutting 1 $160k check on the fly. Yes, it would be awesome if we could just pull $200k out of the sky on a day's notice. But unless the dollar goes somewhere very unpleasant, that isn't going to happen.
- ph0rque 18y agoI assume the world of difference you're mentioning is the due diligence process that an angel investor or a VC takes the startup through, correct?
- tptacek 18y agoI generally rebel at the idea of describing what VCs do as a "process" --- it's mostly a system combining the most salient attributes of a good-'ol-boys club and the recording industry. But yeah, at a certain point, probably around $100k, you're in that system. Not the YC system.
- hugh 18y agoIdeal from the point of view of the entrepreneur, perhaps, but why is this ideal from the point of view of the investor?