Do You Have What It Takes to Start Up? (Startup Manifesto)

Why are so many people so enthralled with startups?

I've worked for lots of startups. I'd much rather work for a company that is not a startup.

Consider that even if management has a clue, the VC might not. I once worked for one of the very first electronic medical records vendors. Our VC dropped by one day to ask use what our "Internet strategy" was. We didn't have one, that's not what hospitals do.

Several times I've seen perfectly good companies totally destroyed by venture capitalists.

If you do choose to go looking for funding, consider whether you really want to accept it if it is offered to you. Don't accept it from just any VC; look into the experiences of the other companies they've funded. Not just whether they had a successful IPO; look into the press about their other portfolio companies. If you can, speak with some of the employees of those companies.

Some VCs, such as Ann Winblad of Hummer-Winblad Venture Partners, are very very good. You would do well to have someone like Ann behind you.

A VC that I actually met, made his fortune through profound copyright infringement. Despite losing in a lawsuit settlement, he kept enough money that he was able to back a successful product. Now he regards himself as possessed of great wisdom.

When he sat right next to me at a cafe, I speculated he might have been interested in investing in my company.

I wouldn't touch a guy like that with a hot rock.

When did "start up" become a verb?