App charges founders $2500 for VC meetings
sfstandard.com
sfstandard.com
The app allows you to book appointments with specific people who claim significant expertise. The article does not suggest that VCs are asking founders for a fee to present their pitch.
A more accurate title would have been "Some VCs..." though it has become standard practice in journalism to omit a leading "Some."
Maybe "App charges founders $2500 for VC meetings"?
- Knight Foundation invested $120,000 as a convertible note
- They received 2.75x return on their investment
- The entity stayed the same between pivots: the company was never "scrapped"
The idea behind the site was to allow founders to approach the VCs with any question not just to pitch or network. For example, I was planning to use it to ask for guidance on a go to market issue.
I actually think sites like this are a great way for people to get expert advice that normally are only available to the experienced or well connected. Be nice if the people were doing it for altruism and not making money on it.
In general I find it kind of hard to criticize any offering isomorphic to "we weren't offering this thing before and now we are, here's what it costs". At worst you just...don't pay for it.
In particular, the article opens with:
> Silicon Valley has long run on an ethos of pay-it-forward generosity, where people connect friends or acquaintances to others in their network who might be able to offer advice.
which is just another way to say "hope you're in the club, because you're not going to get into it if you aren't". Surely offering the ability to buy some access to the club is better than just having it all based on personal networks.
https://www.occ.gov/topics/consumers-and-communities/consume...
The well known people are likely to exit such a rogues gallery fairly quickly.
I personally think it's a bit scummy, but then again, I also limit access to only those who get a warm intro from someone IK to me.
To each their own.