Active Angels Ty Danco and Dharmesh Shah have posted 21 funding tips for Startups looking to leverage AngelList:
AngelList may be a game-changer, but most of the same rules are still in place. Angels still look for the same elements in a startup as always: a strong team; meaningful milestones; a differentiated product in a big potential market; capital efficiency and so on. Therefore, the excellent advice listed in OnStartups, Venture Hacks, AVC, Ask the VC, Both Sides of the Table, and the like still applies. What for now is unique to AngelList is the speed and efficiency with which they can harness an all-star network of active investors in front of a breathtakingly large, qualified stream of startups.
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In this video, Peter Thiel, co-founder of Paypal, discusses building companies with a purpose from an entrepreneur’s and investor’s perspective.
David Ricardo’s economic Law of Comparative Advantage says that two parties can both gain if, in the absence of trade, they have different relative costs for producing the same goods. VC Jeffrey Bussgang writes that too often, entrepreneurs ignore this law and spend their time on the wrong things:
Unfortunately, I see too many founders ignoring the entrepreneurial corollary to this law, the Start-Up Law of Comparative Advantage. I’m no David Ricardo, but it seems to me that if entrepreneurs followed this “law”, the gains to their start-ups would be akin to the gains attributed to free trade. Here’s why: founders are typically gifted, multi-talented, versatile professionals. As such, they get sucked into spending time doing things that they may be better at than the others in their organization on an absolute basis, but that, comparatively speaking, they are worse at in relation to the handful of things that they are uniquely suited for.
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Erik Wolf has posted his lessons learned after five years of being an entrepreneur:
“Sales” doesn’t work. Everyone hates the “buy me” salesperson — that guy or gal armed with a briefcase full of brochures, hurling business cards at every warm body they see as if they were throwing stars, pitching product to anyone who will listen. So why is is that at some point, just about every small business owner BECOMES that person? Obviously, we all need to sell stuff in order to feed our families, but I’ve found that my business is most profitable when I stop pushing to sell and try actively to help instead. Nobody cares what I’m selling them, nobody cares about the features of MY service the way I do and no one is going to read my brochure. My customers are business owners with needs, challenges and sometimes problems. Understanding those needs/challenges/problems and articulating solutions is how I have always managed to demonstrate value and win business.
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While there are all kinds of Startup contests out there, few can offer a prize as compelling as time with Billionaire Richard Branson. That’s the tempting prize being offered by the ExtremeTechChallenge.
The ExtremeTechChallenge aims to bring out the best entrepreneurs and provide them with cash, infrastructure and world-class mentorship to launch groundbreaking ideas. Whether you’re just starting to put your ideas to paper, or have customers already using your product, participating in this contest may end up changing your life.
Who should apply? “We are seeking applications from relatively young start-ups who have raised less than $1 million. This is not a hard-and-fast rule, and we do encourage all start-ups to apply.”
Submissions are due by August 31, 2014.
How would you like to win $100 for your Startup? In this video from GTC 2014, Todd Mostak from MapD demonstrates the company’s GPU-powered in-memory relational database software for Big Data. The company was declared as the winner of the GPU Technology Conference’s Early Stage Challenge this year, and they will be going home with a cool $100,000 check.
Here is an early April Fool’s video. Tech Startups sometimes get enamored in their own jargon. In this parody video, Sun Microsystems employees talk shop. The company had its own technology dialect, and those who couldn’t understand it were expected to issue a Purchase Order anyway. Maybe that’s why the company failed. Produced by Rich Brueckner of insideHPC.
Note that this script is a parody of a parody. Check out the Turbo Encabulator from 1946.