Hacker News Reader

Comment by candiddevmike | Hacker News Reader

I have a US based startup looking for dry powder but lack any connections to VCs, how do I get ignition?

No self respecting VC can miss out on ChatGPT mania. Take whatever you are doing and reframe it as a ChatGPT application. This will get their juices flowing almost immediately (see Pavlovian response). Make sure you do not demonstrate an actual implementation however because reality may intervene in their thinking and prevent closing the deal. Finally prepare for a future pivot.

Is this not considered fraud?

> Is this not considered fraud?

Commenter is being sarcastic, but also pointing out some truth.

For instance, this mobile operator [1] "New S’pore MVNO Gorilla Mobile lets you turn unused mobile data into digital crypto tokens" taking advantage of the AI/crypto craze introducing a completely unnecessary crypto token into the product. It's just pure marketing. Although not exactly lying, you can get the drift the commenter was making.

[1] https://vulcanpost.com/749452/gorilla-mobile-telco-singapore...

I mostly jest but the best jokes have an element of truth. You and I might consider it fraud or at least unethical. Some might call it doing business. Consider Theranos - billions invested, board of famous old men with zero domain knowledge - due diligence not so much.

BTW: Bing is stalking me - I told Sydney it was over but it keeps heart facing me. Anybody know how to make it stop.

If you're cashflow positive (or on your way), you won't need connections. They'll just take the meeting.

I wonder if anyone has insight into Tilt5 with Jerry Ellsworth. I hear complaints that they can’t raise constantly despite being a healthy profitable business.

I was always told that revenue and profit is bad for valuations. Profit is for lifestyle businesses.

Possibly b/c it locks in a real valuation and prevents playing valuation games with future expected MAU/cashflow.

That’s when it’s ‘oh crap, go go go’ on the investor side, because the startup owners can’t play as many games with valuations.

When the investors are picking and choosing, they usually want to see that you have some ability to deliver.

It does make it harder to raise funds on vapor.

One option is create an Angel List account and use its tools to connect with investors. https://www.angellist.com/

This comment is a good start. I sent you an email. :rocket_emoji:

Reply on news.ycombinator.com