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I think the most ridiculous thing is not even the gift, but the fact that it is a Tandem bike (just because of the name). What's the rationale there? "Ohh thei
by whoisjuan 7y ago
I think the most ridiculous thing is not even the gift, but the fact that it is a Tandem bike (just because of the name).
What's the rationale there? "Ohh their name is Tandem. Let's buy them a Tandem bike to convince them to accept our term sheet. It's our fiduciary responsibility to do this stupid thing".
For me, that's just a red flag. How little can you add to a company besides money, that you have to resort to this chaplinesque strategy?
- WillPostForFood 7y agoWhy not? Personal relationships are a part of why deals are made. Showing some whimsy and personal attention isn't going to hurt, and costs what? ~500?
- bch 7y agoNot really your point, but if somebody gifted a $500 tandem/boat anchor for a $30MM co, that might indeed be a red flag. A $500 tandem is probably a boat anchor no matter what the circumstances are...
- mathattack 7y agoThis is the norm in business. It forces reciprocity. It’s why most sales orgs spend so much on business entertainment.
- bch 7y agoI (think) I know what you’re saying, what I’m saying is that if I said I was interested in your billion dollar automobile startup, and bought you a car as a gesture, you might be excited, until I handed you the keys to a used 1998 Hyundai Excel. Unless I really am missing the point, because a $500 bicycle really is a pretty cheap machine these days, let alone a $500 tandem. https://en.wikipedia.org/wiki/Hyundai_Excel https://en.wikipedia.org/wiki/Hyundai_Excel
- WillPostForFood 7y agoIt's the thought that counts right? Tandem is the name, they are gifted a tandem bike, which reinforces the symbolism of doing something together. I'd hope it would be perceived either neutrally, or generate some very small positive feelings, but not negatively.
- bch 7y agoI appreciate all the positive readings. Maybe it’s that I’m personally more focused on downsizing than accumulating :)
- mathattack 7y agoMore that anything creates reciprocity. It’s why I am very wary of taking things from vendors.
- ymolodtsov 7y agoIt’s basically a joke. Jokes attract attention of other people. Investors need to set up a relationship with the founders.
- mandeepj 7y ago> I think the most ridiculous thing is not even the gift, but the fact that it is a Tandem bike (just because of the name). Similar to Governors convincing Bezos to open HQ2 on their state by writing product reviews on amazon.com, giant cactus and what not.
- Grustaf 7y agoWhy is a sense of humour a red flag? Founders are people too you know.