5 ms·
"abusive investors" -> Tell me more about them.
by langitbiru 6y ago
"abusive investors" -> Tell me more about them.
- deleted 6y ago[deleted]
- gogopuppygogo 6y agoEver been threatened with a lawsuit by an Angel with full time counsel at their disposal because you haven’t hit revenue targets in year one? Ever had that investor write up a pedantic missive about your startup to mock their own investment? Hostile investors are real and awful. Shielding startups from toxic money is a thing.
- langitbiru 6y agoWe should have Glassdoor but for investors.
- rtx 6y agoThey will buy it.
- giancarlostoro 6y agoSounds like we should still do it to make a profit from toxic angel investors ;)
- xenospn 6y agoHere you go: https://www.vcguide.co https://www.vcguide.co
- langitbiru 6y agoI read the reviews for YC. There are three VCs from YC (in this website). They got 1, 7, and 10 marks on a scale from 1-10.
- deleted 6y ago[deleted]
- doh 6y agoI believe this was meant as a sarcasm, but in a chance that it wasn't here are some extreme cases (these are all different investors): - they asked me to pay for attendance in their seminar that will teach me how to raise money before they consider investing - I got stood up for a meeting with no word from the person. He followed up two weeks later that they are not interested. 3 years later we met at an event thrown by one of our investors and this person, after listening to me talking about the company, approached me for an investment opportunity - I got introduced to a guy that never responded. I got reintroduced to him 4 times! on his own request, but he never replied. When we finally closed our first round he sent a note to our lead investor that he is very interested to be introduced to the company. Guess what. We never heard from him - I was "forced" to explain our technology in an extreme detail (we use proprietary algorithms) after which I was told that this doesn't make any sense because he knows better and I'm wrong. I wrote the code - I was asked to fly in for a meeting to NYC which should've been a final handshake after weeks of talking. They said that without meeting in person they can't close the deal. As I was sitting in their lobby, an assistant explained to me that he is busy today, lets reschedule for a date two weeks out - a fund spent 9 months on due diligence, covering every single cranny and nook of the company. Gave us a term sheet, pushed for a closing and then refused to sign their own papers. We owed hundreds of thousands in legal fees and almost closed the shop. I wrote about it a bit here [0] This is just a selection of them. There were many more. This was the time it was suggested to me to apply for YC to get better treatment. Unfortunately YC passed and I never tried again. Things changed quite significantly when we turned profit and started generating tens of millions of dollars [1]. But the path was quite painful. [0] https://turek.co/2017/12/from-near-bankruptcy-to-profitability-in-4-months/ https://turek.co/2017/12/from-near-bankruptcy-to-profitabili... [1] https://mobile.twitter.com/synopsi/status/1207722432091455488 https://mobile.twitter.com/synopsi/status/120772243209145548...