The Rise of the Angels (and the Entrepreneurs) - Norfolk - March 2013
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Slides for my talk at the StartNorfolk 3 event.
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The Rise of the Angels (and the Entrepreneurs) - Norfolk - March 2013
- 1. @paulsingh #startnorfolk THE RISE OF THE ANGELS (AND THE ENTREPRENEURS) PAUL SINGH @paulsingh・paul@500startups.com・resultsjunkies.com
- 2. @paulsingh #startnorfolk GETTING TO KNOW 500 STARTUPS BECAUSE WE’RE KIND OF A BIG DEAL PAUL SINGH @paulsingh・paul@500startups.com・resultsjunkies.com
- 3. @paulsingh #startnorfolk
- 4. @paulsingh #startnorfolk EARLY STAGE STARTUPS HAVE CHANGED
- 5. @paulsingh #startnorfolk CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING STARTUP COSTS LOWER THAN EVERBUT SCALING STILL COSTS MONEY
- 6. @paulsingh #startnorfolk WEB GETS BIGGER. WORLD GETS SMALLER.
- 7. @paulsingh #startnorfolk TRACTION IS THE NEW INTELLECTUAL PROPERTY PLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE. NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.
- 8. @paulsingh #startnorfolk CAPITAL INCREASINGLY COMMODITIZED RISE OF THE ANGELS, YO!
- 9. @paulsingh #startnorfolk NEW REALITY: MONEY FOLLOWS FOUNDERS RISE OF THE ENTREPRENEURS, YO!
- 10. @paulsingh #startnorfolk SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
- 11. @paulsingh #startnorfolk SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
- 12. @paulsingh #startnorfolk TRANSPARENCY IS SIGNALS ARE EVERYWHERE BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
- 13. @paulsingh #startnorfolk WALL STREET BEAT US TO IT
- 14. @paulsingh #startnorfolk
- 15. @paulsingh #startnorfolk “ UBS PROPRIETARY SATELLITE PARKING LOT FILL RATE ANALYSIS POINTS TO AN INTERESTING CADENCE INTRA-QUARTER AND POTENTIAL UPSIDE TO OUR VIEW.
- 16. @paulsingh #startnorfolk
- 17. @paulsingh #startnorfolk “ TWICE A WEEK A SMALL HELICOPTER CIRCLES OVER CUSHING’S TANK FARMS ON AN OIL INDUSTRY SPYING MISSION.
- 18. @paulsingh #startnorfolk WALL STREET ISN’T ALONE THESE TECHNIQUES ALREADY USED TO UNDERWRITE IN-VITRO FERTILIZATION LENDING, PAYDAY LOANS, SUBPRIME AUTO LENDING, HOME/PERSONAL/AUTO INSURANCE AND MORE.
- 19. @paulsingh #startnorfolk IT TURNS OUT, WE CAN DO IT, TOO SURPRISE!
- 20. @paulsingh #startnorfolk
- 21. @paulsingh #startnorfolk + “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.
- 22. @paulsingh #startnorfolk WE CAN DO IT, TOO.
- 23. @paulsingh #startnorfolk WE CAN DO IT, TOO.
- 24. @paulsingh #startnorfolk WE’RE DOING IT, TOO.
- 25. @paulsingh #startnorfolk
- 26. @paulsingh #startnorfolk “ VENTURE CAPITAL IS OPEN TO ATTACK BY DISRUPTIVE NEW BUSINESS MODELS AND TECHNOLOGY. -- NAVAL RAVIKANT (@naval)
- 27. @paulsingh #startnorfolk EARLY STAGE VC IS CHANGING HAS CHANGED
- 28. @paulsingh #startnorfolk STATE OF THE ART IN EARLY STAGE INVESTING IS NOT VERY SOPHISTICATED
- 29. @paulsingh #startnorfolk UNBUNDLING OF ADVICE, CONTROL AND MONEY
- 30. @paulsingh #startnorfolk USED TO BE ABOUT CAPITAL, DEALFLOW AND JUDGEMENT TODAY, IT’S ABOUT ACCESS.
- 31. @paulsingh #startnorfolk (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
- 32. @paulsingh #startnorfolk (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
- 33. @paulsingh #startnorfolk THE PRIVATE MARKETS ARE BECOMING LIQUID AND EFFICIENT
- 34. @paulsingh #startnorfolk “ BY ITS NATURE, THE INTERNET UNDERMINES ANYONE WHOSE STATUS DEPENDS ON PRIVILEGED ACCESS TO INFORMATION. -- MICHAEL LEWIS
- 35. @paulsingh #startnorfolk Demo Day Videos ⟹ 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
- 36. @paulsingh #startnorfolk YOUR KEY TAKEAWAYS Focus on Traction. Learn to Communicate and Inspire.
- 37. @paulsingh #startnorfolk ALSO... Distribution > Product Tactics > Strategy Focus on customer acquisition Get on AngelList Raise 12-18+ months of funding Learn the basics of VC economics Progress and Probability Coming soon: dashboard.io
- 38. @paulsingh #startnorfolk THE RISE OF THE ANGELS (AND THE ENTREPRENEURS) PAUL SINGH @paulsingh・paul@500startups.com・resultsjunkies.com