7Figures2Commas

12 ms·

61.
by 7Figures2Commas 11y ago
Booze, beanbags and bike workstations are now the signs of a "thriving" startup environment?
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by 7Figures2Commas 11y ago
> Well considering the 50K is basically a rounding error to most VCs the money is not an issue. Given the difficulty of assembling a world class team to let one disintegrate just because their current idea is poor is not a good use of a
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by 7Figures2Commas 11y ago
Yes, investors should be putting twenty-something would-be founders who think it's a good idea to "lock customers into discount rates that even with infinite retention won’t become profitable" on $50,000 retainers to come up
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by 7Figures2Commas 11y ago
Which is precisely why Silicon Valley needs to get over its infatuation with young, intelligent engineering types who have no experience successfully applying software to business. Giving a "talented" engineer with no demonstrable
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by 7Figures2Commas 11y ago
> ...the point I am trying to make is that the Homejoy team was exceptionally talented and did amazing things... > Homejoy was led by two software engineers. Both wildly talented humans... > Homejoy and ‘fail’ have gotten tethered
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by 7Figures2Commas 11y ago
> Have you looked into Lending Club and Prosper Marketplace peer to peer lending platforms? 1. Lending Club and Prosper Marketplace have grown up in a period of historically low defaults. We will see how successful investors, retail and
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by 7Figures2Commas 11y ago
> The main problem I have with the "old rules" of investing is that wealth is used as a proxy for sophistication. I think there are strong arguments for revisiting the accredited investor criteria, but you're missing an im
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by 7Figures2Commas 11y ago
No, with equity crowdfunding, muppets get the down rounds, not the up rounds.
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by 7Figures2Commas 11y ago
> “I think it’s going to really make a difference for businesses that are not especially fashionable for professional investors,” said James Dowd, the chief executive of North Capital Private Securities, a broker-dealer that focuses on p
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by 7Figures2Commas 11y ago
People are straight-up duped all the time. Just read the Vanity Fair link I posted. You can find countless other stories like this. Again, investors in the U.S. are defrauded to the tune of tens of billions of dollars every year. Do you hon
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by 7Figures2Commas 11y ago
Thank you. You have refuted your own argument ("nobody could straight up dupe their way..."). Folks like Madoff are successful because they take advantage of fear and greed. An "auditable track record" helps but is not r
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by 7Figures2Commas 11y ago
> Same with Clinkle, at first blush it seems like vaporware, but according to some of the insiders they had some hardcore tech that they could never get legally cleared to use. I have a bridge I'd like to sell you.
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by 7Figures2Commas 11y ago
> I don't care who you are, nobody could straight up dupe their way into $88M. Bernie Madoff duped his way into tens of billions of dollars. His ponzi scheme worked pretty well at scale. Until it didn't. Never underestimate wha
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by 7Figures2Commas 11y ago
> Seems like the right direction... Huh? How in the world does Theranos shuffling its board(s) and issuing a statement supporting its "remarkable" founder represent anything meaningful? > At this point, the company simply ne
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by 7Figures2Commas 11y ago
The founder says he acquired the data through an assignment for the benefit of creditors. I'm not an expert in ABCs, but my understanding is that the assignee in this process has a fiduciary duty to creditors and therefore must attempt
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by 7Figures2Commas 11y ago
> When you run a business into the ground, some decisions about what you sell get taken over by courts, at the direction of your creditors. This is true, but a lot of this "story" still seems strange, especially in light of the
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by 7Figures2Commas 11y ago
1. From http://cleanerconnect.com/ , which appears to be connected to your new venture: > Cleaner Connect is not an employer, but simply connects independent service professionals with customers Your Homejoy co-founder st
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Norway’s Wealth Fund Suffers Biggest Loss in Four Years(bloomberg.com)
2 points by 7Figures2Commas 11y ago|0 comments
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by 7Figures2Commas 11y ago
"If this company obtains 1% of a $500 billion market, things will be great!" is not due diligence. Here, everything realistically comes down to the technology because the company's ability to gain and sustain market share i
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by 7Figures2Commas 11y ago
> Theranos and Valeant seem like entirely different businesses. I think you're missing the point I was making: Valeant is a timely and interesting example of what can happen to the valuation of a company under fire. > I don'
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by 7Figures2Commas 11y ago
It doesn't look like there's a conflict of interest (Morin, as far as I can tell, is not a Theranos investor), but I think you're overlooking the fact that a lot of prominent tech investors are sitting on investments in compa
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by 7Figures2Commas 11y ago
> I bet they pour over and nitpick lots of minor details on the financials What financials? Lots of these companies have little to no revenue.
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by 7Figures2Commas 11y ago
Since there's so much interest in unicorn valuations today, and Theranos is a prominent unicorn, anyone wondering about the potential implications of all this news on Theranos' valuation might find it useful to look at Valeant Pha
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by 7Figures2Commas 11y ago
> Yeah, Homejoy's demise took everyone by surprise. No, it didn't. Some of my previous comments: https://news.ycombinator.com/item?id=8468863 https://news.ycombinator.com/item?id=6856221 https
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by 7Figures2Commas 11y ago
> And doesn't seem to be struggling from what I can tell. http://www.yelp.com/biz/handy-san-francisco http://www.yelp.com/biz/handy-los-angeles http://www.yelp.com/biz&#x2F
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by 7Figures2Commas 11y ago
The investors dodged a bullet not because this founder lacked the mental fortitude to face challenges but because he did their due diligence for them and was honest enough to pull out of the financing once he discovered his concept was like
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by 7Figures2Commas 11y ago
Yeah, it's a shame the dolphins seem to be so attracted to them.
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by 7Figures2Commas 11y ago
Kudos to the author for doing the right thing. But his post highlights just how frothy the market is and just how much weight founder resume and social proof are being given in seed rounds today.
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by 7Figures2Commas 11y ago
> My friend has a rather large community house where he has offered me to stay for free for 2% equity (or something like that) per year... Your "friend" isn't offering you anything "free."
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by 7Figures2Commas 11y ago
In other news, Motif Investing today announced that it is rebranding as Muppet Investing.

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