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Second that comment on NZ. The VC system there is still in its infancy, VC treat startups like they should be grateful to even have a conversation, then offer p
by drunkenmagician 5y ago
Second that comment on NZ. The VC system there is still in its infancy, VC treat startups like they should be grateful to even have a conversation, then offer peanuts for a large stake. No wonder the more successful startups always go offshore for funding. Net result is that the opportunities for meaningful payouts are low. Great place to bootstrap, but you need to go offshore as soon as you launch.
- robocat 5y agoOh yeah. Another major problem I have seen is that generally VC/seed investors in NZ have over-inflated egos, coupled with a lack of knowledge/skill. I have seen multiple boardrooms force extremely poor decisions on their investments, crippling the companies they are trying to “help”. The same pattern surely happens in the USA, but I am guessing startups have some reasonable chance of receiving better governance. That said, I have seen not-fuck-you-money US investors living in NZ give extremely poor advice, so I don’t have unrealistic expectations of the quality of investors just because they are on the other side of the Pacific. Even worse, seed investors can miss out on great investment opportunities, because they lack the ability to spot winners.