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Evolution of the Private Market
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Evolution of the Private Market

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Slides for my keynote at the VA Angels summit in Calgary, AB. Signup for my weekly updates at bit.ly/dashboard-research

Slides for my keynote at the VA Angels summit in Calgary, AB. Signup for my weekly updates at bit.ly/dashboard-research

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  • 1. @paulsingh #VAangelsEPIC PAUL SINGH @paulsingh・paul@dashboard.io・dashboard.io THE EVOLUTION OF THE PRIVATE MARKET THE RISE OF THE ANGELS (AND THE ENTREPRENEURS)
  • 2. @paulsingh #VAangelsEPIC @paulsingh・paul@dashboard.io・dashboard.io 500 STARTUPS
  • 3. @paulsingh #VAangelsEPIC
  • 4. @paulsingh #startupchile A (R)EVOLUTION IN THINKING
  • 5. @paulsingh #VAangelsEPIC EARLY STAGE STARTUPS HAVE CHANGED
  • 6. @paulsingh #VAangelsEPIC STARTUP COSTS LOWER THAN EVERBUT SCALING STILL COSTS MONEY CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING
  • 7. @paulsingh #VAangelsEPIC WEB GETS BIGGER. WORLD GETS SMALLER.
  • 8. @paulsingh #VAangelsEPIC TRACTION IS THE NEW INTELLECTUAL PROPERTYPLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE. NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.
  • 9. @paulsingh #VAangelsEPIC CAPITAL INCREASINGLY COMMODITIZEDRISE OF THE ANGELS, YO!
  • 10. @paulsingh #VAangelsEPIC NEW REALITY: MONEY FOLLOWS FOUNDERS RISE OF THE ENTREPRENEURS, YO!
  • 11. @paulsingh #VAangelsEPIC SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 12. @paulsingh #VAangelsEPIC SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 13. @paulsingh #VAangelsEPIC TRANSPARENCY IS SIGNALS ARE EVERYWHEREBIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 14. @paulsingh #VAangelsEPIC WALL STREET BEAT US TO IT
  • 15. @paulsingh #VAangelsEPIC
  • 16. @paulsingh #VAangelsEPIC UBS PROPRIETARY SATELLITE PARKING LOT FILL RATE ANALYSIS POINTS TO AN INTERESTING CADENCE INTRA-QUARTER AND POTENTIAL UPSIDE TO OUR VIEW. “
  • 17. @paulsingh #VAangelsEPIC
  • 18. @paulsingh #VAangelsEPIC TWICE A WEEK A SMALL HELICOPTER CIRCLES OVER CUSHING’S TANK FARMS ON AN OIL INDUSTRY SPYING MISSION. “
  • 19. @paulsingh #VAangelsEPIC WALL STREET ISN’T ALONETHESE TECHNIQUES ALREADY USED TO UNDERWRITE IN-VITRO FERTILIZATION LENDING, PAYDAY LOANS, SUBPRIME AUTO LENDING, HOME/PERSONAL/AUTO INSURANCE AND MORE.
  • 20. @paulsingh #VAangelsEPIC WE CAN DO IT, TOOSURPRISE! IT TURNS OUT,
  • 21. @paulsingh #VAangelsEPIC + “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.
  • 22. @paulsingh #VAangelsEPIC WE CAN DO IT, TOO.
  • 23. @paulsingh #VAangelsEPIC WE CAN DO IT, TOO.
  • 24. @paulsingh #VAangelsEPIC WE’RE DOING IT, TOO.
  • 25. @paulsingh #VAangelsEPIC
  • 26. @paulsingh #VAangelsEPIC VENTURE CAPITAL IS OPEN TO ATTACK BY DISRUPTIVE NEW BUSINESS MODELS AND TECHNOLOGY. “ -- NAVAL RAVIKANT (@naval)
  • 27. @paulsingh #VAangelsEPIC data.dashboard.io
  • 28. @paulsingh #VAangelsEPIC data.dashboard.io
  • 29. @paulsingh #VAangelsEPIC EARLY STAGE VC IS CHANGING HAS CHANGED
  • 30. @paulsingh #VAangelsEPIC STATE OF THE ART IN EARLY STAGE INVESTING IS NOT VERY SOPHISTICATED
  • 31. @paulsingh #VAangelsEPIC UNBUNDLING OF ADVICE, CONTROL AND MONEY
  • 32. @paulsingh #VAangelsEPIC USED TO BE ABOUT CAPITAL, DEALFLOW AND JUDGEMENTTODAY, IT’S ABOUT ACCESS.
  • 33. @paulsingh #VAangelsEPIC
  • 34. @paulsingh #VAangelsEPIC data.dashboard.io
  • 35. @paulsingh #VAangelsEPIC (500) CHECKLIST Product solves a problem for a specific target customer Capital-efficient businesses - operational @ <$1M funding Primarily internet-based distribution - search, social, mobile, local Simple revenue models - transactions, subscriptions or affiliate Functional prototype before investment (or previous success) Small but measurable usage - some customers, early revenue Small but cross-functional team - engineer, design/UX, marketing
  • 36. @paulsingh #VAangelsEPIC (NEW) FINANCINGS Standardized terms No fixed amounts, no closings, no leads Continuous, not discrete rounds Prices beginning to float No Board seats at the earliest stage Herd mentality and oversubscriptions
  • 37. @paulsingh #VAangelsEPIC BY ITS NATURE, THE INTERNET UNDERMINES ANYONE WHOSE STATUS DEPENDS ON PRIVILEGED ACCESS TO INFORMATION. “ -- MICHAEL LEWIS
  • 38. @paulsingh #VAangelsEPIC THE PRIVATE MARKET IS BECOMING MORE ACCESSIBLE.
  • 39. @paulsingh #VAangelsEPIC THE PRIVATE MARKET IS BECOMING MORE TRANSPARENT.
  • 40. @paulsingh #VAangelsEPIC Demo DayVideos ⟹ livestream.com/500startups Sample Pitch Decks ⟹ slideshare.net/500startups Venture Capital 101 ⟹ venturehacks.com/archives Investor Thoughts: Brad Feld ⟹ feld.com Fred Wilson ⟹ avc.com Chris Dixon ⟹ cdixon.org Mark Suster ⟹ bothsidesofthetable.com angel.co/valuations and angel.co/salaries
  • 41. @paulsingh #VAangelsEPIC data.dashboard.io
  • 42. @paulsingh #VAangelsEPIC THE PRIVATE MARKET IS BECOMING MORE EFFICIENT.
  • 43. @paulsingh #VAangelsEPIC THE PRIVATE MARKET IS BECOMING MORE EFFICIENT. AND, SOON, MORE LIQUID.
  • 44. @paulsingh #VAangelsEPIC YOUR KEY TAKEAWAYS Focus on Traction. Learn to Communicate and Inspire.
  • 45. @paulsingh #VAangelsEPIC ALSO...Distribution > Product Tactics > Strategy Notability > Credibility Get on AngelList Raise 12-18+ months of funding Learn the basics of VC economics Don’t confuse due diligence with progress & probability... Shameless plug: data.dashboard.io
  • 46. @paulsingh #VAangelsEPIC @paulsingh・paul@dashboard.io・dashboard.io THE EVOLUTION OF THE PRIVATE MARKET THE RISE OF THE ANGELS (AND THE ENTREPRENEURS)