Beside feedback from Brad Feld, I received a number of other emails regarding my ding on the Brad/Fred show. Many entrepreneurs appreciated the comments about just being able to focus on what they want to try and pitch. Other VCs agreed with the basic points but thought I was a bit too harsh on Brad/Fred because they are talking to VCs and not entrepreneurs.
One comment "it's about time somebody start slapping our own" was being supportive of Brad/Fred telling VCs to stop with these silly terms thinking that I wasn't supportive.
I am, when it comes to VCs talking among VCs, but not when entrepreneurs get caught up in the commentary.
The larger concern I have is that we have entered the age of truly open communications. While forums on Compuserve or AOL or even newsgroups were 'open', it seems this 'new' stuff of Blogs has suddenly made the masses aware of everything.
So, when a VC says to another VC or a group of VCs "I hate it when somebody shows up with a powerpoint deck using the same old template and clipart from the box", I cringe. I cringe because while I might agree with them, I am more concerned that some gal on her last 200 bux is wasting time trying to pretty up a powerpoint deck because she read that VCs don't like standard clip art. I worry she gives up, goes back to whatever job and a great idea gets snuffed out because she couldn't come up with a better word for traction.
That's not a shot at Brad/Fred rather a yellow caution flag about entrepreneurs taking this stuff too seriously.
As I said earlier, if you want good advice on term sheets, Brad's your guy. He has some great postings on term sheets. That's the right thing to be doing and he is doing good and giving back to the community. Bravo.
I've seen VC firms put on websites, don't call/talk to us without a referral. At the risk of getting all the VCs really mad at me, wow, what's that all about. How hard is it to take a quick read, say thanks for thinking of JLA and pass on it. SPAM is obvious, delete it and unsolicted emails from companies that have nothing to do with what your firm does, trash em. I get that, I do that.
But, again, larger point: As an industry, shouldn't we be more open? Try to, maybe, get away from the "Vulture Capital" smear? That was my point about giving back.
One email I got was from a west coast VC who said "nice thoughts but wait until you have a billion dollars to deploy. Trust me, you won't waste your time on goofs that can't spell check a presentation." I hope not. I hope I remember what it was like at the begining.
I compete for deals. If people think they can get a meeting with me, get polite feedback, and have a good experience, then I hope this approach gets me first look at things others don't see. I also hope that I was raised properly that when I'm making the big bucks, I'll remember all this and keep doing it my way.
The benchmark for me was Bill/Steve/Jeff at Microsoft. From 1992 - 1996, I watched these guys read their own email. All of it. Maybe not happening today but I was there when it happened. They got, even back then, hundreds every day. Kids, customers, rants, raves, etc. They read them all, forward things to people for action, replied to much of it, etc.
The best compliment I ever got at Microsoft was "wow, thanks for the quick response" when responding to email. It was an expectation thing. Big massive company, somebody flings something into the giant company and, presto, gets a reply from a real human. Basic stuff, right?
So, to me, that basic stuff translates into this job. Responsive. Ignoring spelling errors if you know somebody is working 3 jobs to try to get that idea off the ground. Letting them use terms no PR person should be allowed to utter, etc.
I have the 30 minute no harm no foul policy that I've been following since I started doing this gig. I'll post it later today. In the meantime, keep the cards -n- letters coming, it's a pleasure to hear from everybody.
Comments