Evolution of the Private Market - Motley Fool
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  • 1. @paulsingh #moneyball4startups PAUL SINGH @paulsingh・paul@dashboard.io・dashboard.io THE EVOLUTION OF THE PRIVATE MARKET THE RISE OF THE ANGELS (AND THE ENTREPRENEURS)
  • 2. @paulsingh #moneyball4startups @paulsingh・paul@dashboard.io・dashboard.io 500 STARTUPS
  • 3. @paulsingh #moneyball4startups
  • 4. @paulsingh #startupchile A (R)EVOLUTION IN THINKING
  • 5. @paulsingh #moneyball4startups EARLY STAGE STARTUPS HAVE CHANGED
  • 6. @paulsingh #moneyball4startups STARTUP COSTS LOWER THAN EVERBUT SCALING STILL COSTS MONEY CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING
  • 7. @paulsingh #moneyball4startups WEB GETS BIGGER. WORLD GETS SMALLER.
  • 8. @paulsingh #moneyball4startups TRACTION IS THE NEW INTELLECTUAL PROPERTYPLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE. NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.
  • 9. @paulsingh #moneyball4startups CAPITAL INCREASINGLY COMMODITIZEDRISE OF THE ANGELS, YO!
  • 10. @paulsingh #moneyball4startups NEW REALITY: MONEY FOLLOWS FOUNDERS RISE OF THE ENTREPRENEURS, YO!
  • 11. @paulsingh #moneyball4startups SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 12. @paulsingh #moneyball4startups SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 13. @paulsingh #moneyball4startups TRANSPARENCY IS SIGNALS ARE EVERYWHEREBIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
  • 14. @paulsingh #moneyball4startups WALL STREET BEAT US TO IT
  • 15. @paulsingh #moneyball4startups
  • 16. @paulsingh #moneyball4startups UBS PROPRIETARY SATELLITE PARKING LOT FILL RATE ANALYSIS POINTS TO AN INTERESTING CADENCE INTRA-QUARTER AND POTENTIAL UPSIDE TO OUR VIEW. “
  • 17. @paulsingh #moneyball4startups
  • 18. @paulsingh #moneyball4startups TWICE A WEEK A SMALL HELICOPTER CIRCLES OVER CUSHING’S TANK FARMS ON AN OIL INDUSTRY SPYING MISSION. “
  • 19. @paulsingh #moneyball4startups 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 #moneyball4startups WE CAN DO IT, TOOSURPRISE! IT TURNS OUT,
  • 21. @paulsingh #moneyball4startups + “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.
  • 22. @paulsingh #moneyball4startups WE CAN DO IT, TOO.
  • 23. @paulsingh #moneyball4startups WE CAN DO IT, TOO.
  • 24. @paulsingh #moneyball4startups WE’RE DOING IT, TOO.
  • 25. @paulsingh #moneyball4startups
  • 26. @paulsingh #moneyball4startups VENTURE CAPITAL IS OPEN TO ATTACK BY DISRUPTIVE NEW BUSINESS MODELS AND TECHNOLOGY. “ -- NAVAL RAVIKANT (@naval)
  • 27. @paulsingh #moneyball4startups data.dashboard.io
  • 28. @paulsingh #moneyball4startups data.dashboard.io
  • 29. @paulsingh #moneyball4startups EARLY STAGE VC IS CHANGING HAS CHANGED
  • 30. @paulsingh #moneyball4startups STATE OF THE ART IN EARLY STAGE INVESTING IS NOT VERY SOPHISTICATED
  • 31. @paulsingh #moneyball4startups UNBUNDLING OF ADVICE, CONTROL AND MONEY
  • 32. @paulsingh #moneyball4startups USED TO BE ABOUT CAPITAL, DEALFLOW AND JUDGEMENTTODAY, IT’S ABOUT ACCESS.
  • 33. @paulsingh #moneyball4startups
  • 34. @paulsingh #moneyball4startups data.dashboard.io
  • 35. @paulsingh #moneyball4startups (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 #moneyball4startups (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 #moneyball4startups BY ITS NATURE, THE INTERNET UNDERMINES ANYONE WHOSE STATUS DEPENDS ON PRIVILEGED ACCESS TO INFORMATION. “ -- MICHAEL LEWIS
  • 38. @paulsingh #moneyball4startups THE PRIVATE MARKET IS BECOMING MORE ACCESSIBLE.
  • 39. @paulsingh #moneyball4startups THE PRIVATE MARKET IS BECOMING MORE TRANSPARENT.
  • 40. @paulsingh #moneyball4startups 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 #moneyball4startups data.dashboard.io
  • 42. @paulsingh #moneyball4startups THE PRIVATE MARKET IS BECOMING MORE EFFICIENT.
  • 43. @paulsingh #moneyball4startups THE PRIVATE MARKET IS BECOMING MORE EFFICIENT. AND, SOON, MORE LIQUID.
  • 44. @paulsingh #moneyball4startups YOUR KEY TAKEAWAYS Focus on Traction. Learn to Communicate and Inspire.
  • 45. @paulsingh #moneyball4startups 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 #moneyball4startups @paulsingh・paul@dashboard.io・dashboard.io THE EVOLUTION OF THE PRIVATE MARKET THE RISE OF THE ANGELS (AND THE ENTREPRENEURS) LEARN MORE: bit.ly/dashboard-weekly