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When Angels Rule the World

by pkedrosky on Feb 22, 2007

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Edgar B. Davis, Ram Shriram, and the outlook for angel investing. Plus some general VC trouble-making.

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Edgar B. Davis, Ram Shriram, and the outlook for angel investing. Plus some general VC trouble-making.

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When Angels Rule the World — Presentation Transcript

When Angels Rule the World Paul Kedrosky Ventures West / UC San Diego Feb 22/2007

2 minutes

227,000 49,500

1:1 1 1 More like 1.03:1, but why brag?

Two Secrets

Secret #1: Angels are Favored by Evolution

The Numbers

Post-Money Valuations

E-mail: $60 Direct sales: $22,000 Indirect sales: $5,000 Direct mail: $70 Airplane banners: $55 Online banner ads: $50 Yellow pages: $20 Search: $8.50 The Cost of Customers is Falling

1985: $71,000 1990: $9,000 1995: $880 2000: $14.29 2007: $0.25 Infrastructure Cost is Falling 1980: $183,000 / Gb

$s 

Secret #2: VCs are Wimps

The soft underbelly of institutional venture capital

“ The last time we fought for a deal was 2004 .”

Be early.

Be useful.

Be fast.

Be different.

Don’t be VCs !

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When Angels Rule the World

by pkedrosky on Feb 22, 2007

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When Angels Rule the World — Presentation Transcript