Redeye VC: Welcome FundersClub | Hacker News Reader

Redeye VC: Welcome FundersClub

redeye.firstround.com

60 pointsjkopelman14 comments

So the fact that they spammed my Facebook wall after joining is unacceptable. You want people to trust you to write multi-thousand dollar checks and then make random Facebook posts on their behalf without disclosing it to them.

This seems like the absolute worst way to build a brand around something that requires SUBSTANTIAL trust.

That really sucks. I would like to hear FoundersClub's response.

Exactly why I denied posting permission when signing up.

I was worried they'd do that.

Will investors be able to meet the startup founders at all? Or is this kind of like blind investing where you just look published stats and such?

Unlikely that you'll meet the founders - It's not worth it for a founder to meet someone for a $1k investment (the minimum allowed).

Seems more like an easy way for you to spread your risk over several start-ups with smaller investments in each, as opposed to putting a larger sum + time and effort in a single company.

It would be great if startup founders offered potential FoundersFund investors the opportunity to Skype with them. Or to save time for founders, they could offer a Google hangout at a specific time for potential investors to drop by and ask some questions. Kind of like an office hours for potential investors.

Some 2.5k investors might up their investment to 5k, and some 10k investors might up their investment to 25k. I think that would be worth the time.

I actually offered to do exactly this (I'm a Sponsorfied founder), and suggested doing it much like YC office hours (small 10 - 15 minute slots) but via Skype or Google Hangouts. Throughout the day I could easily do a few of these, and I'm always interested in new feedback and practice pitching.

Is this the new era for start-ups with investments becoming a real commodity? Interesting times indeed.

Removing accredation requirements via a holding company - after a decade of bar talk in the valley, glad to see someone finally acted on this one.

Actually I believe you still need to be an accredited investor to participate.

It seems like the benefit is 1) you can easily invest smaller amounts than typically required of seed investments, 2) you save time by choosing from the companies FundersClub curates, and maybe 3) they handle paperwork(?).

Ill just have to work my way to $200k minimum salary necessary to be able to invest :)

You actually don't. One huge aspect of this is that they remove that requirement via proxying.

FTA: (You still need to be an accredited investor, though).

Great post Josh. Keep killing it Alex, Boris and FundersClub team :)

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