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…for Austin
Austin has a Startup District. Blocks of startups flying their flags to the world - I want this to be an attraction when people come to Austin. Highest props to Dane Hurtubise for originally coming up with this one.
The startup community in Austin knows each other. ... Continue reading »
Austin has a Startup District. Blocks of startups flying their flags to the world - I want this to be an attraction when people come to Austin. Highest props to Dane Hurtubise for originally coming up with this one.
The startup community in Austin knows each other. ... Continue reading »
1 year ago
* whether you're investing 25K, 250K, or 2.5mil, you still have to jump through all sorts of legal and regulatory hoops. Half of the 25K gets sucked up getting all that set up.
* so you do a pool, right? 250K for 10 startups. But then the investor has to keep track of 10 companies - can't really do that effectively.
I've done several startups, but never gone the VC route. Back in the day, AV wouldn't even touch a company who needed less than a million - too much work for not enough profit. The couple times I looked for investors in the 90s, I found the 250K I was looking for was *not enough* for anyone to be interested, even if I gave them a good sized chunk of my profitable business.
That said - I'd be all over doing my part to help someone figure it out. So many talented people need that small boost to get started - it would pay of in so many ways other than financial. Hard to get investors to think that way though.
1 year ago
The quintessential (and only a few years old!) seed-funding group is YC, the members are startup veterans that have made their millions. Because the startup veterans relate to new founders, they decide who to invest in based on the {creativity, intelligence, potential} of a team. There's a certain amount of trust given and the amount of investment is small enough that babysitting is not necessary.
Traditional VC folks are in the business of choosing investments from the analysis of numbers and many do not yet realize without early investment there will be no startups that can take a couple million and output a figure with more zeros attached.
1 year ago
I'd be happy if you proved me wrong, though! And I'd definitely like to hear more about YC.
1 year ago
1 year ago
@Julie - I was referring to the cost for individuals to incorporate, open up a bank account, and get a couple hours of a lawyer's time when I threw out the $2k figure.
Even the investment and operation points you mentioned can be streamlined by providing would-be founders with a agreement templates that allow them to fill in the blanks. With fewer choices, the more optimized (in both time and money) the process becomes.