The document discusses an approach to early stage startup investing called "Moneyball startups". It advocates for a quantitative portfolio approach using data analysis, diversification across many deals, and smaller initial investments to allow for experimentation and fast failure. This approach aims to provide controlled risk and outsized returns through high deal volume, early exits, and follow-on funding for top performers. The document provides advice on deal terms, avoiding board seats, and being an active investor focused on information asymmetry.
Talk by Ariel Poler at the Universidad de San Andres in Buenos Aires, Argentina. About entrepreneurship and fundraising. During the Geeks on a Plane trip to Brazil, Chile & Argentina.
Investor repellers, i 10 errori da non fare – 21 giugno 2012– Andrea Baldini, Tomaso Rodriguez, Umberto De Feo
Vi riveleremo dalle nostre esperienze personali e con un po' di humor cosa (non) fare nel preparare e presentare pitch e business plan ad investitori!
US Startup Investment Market (Startonomics Tokyo, June 2009)Dave McClure
Presentation on US Startup & Seed / Angel Investment Market for Startonomics Tokyo (June, 2009). Speakers Dave McClure, Joyce Kim, Dave Troy, Ryan Pipkin.
Talk by Ariel Poler at the Universidad de San Andres in Buenos Aires, Argentina. About entrepreneurship and fundraising. During the Geeks on a Plane trip to Brazil, Chile & Argentina.
Investor repellers, i 10 errori da non fare – 21 giugno 2012– Andrea Baldini, Tomaso Rodriguez, Umberto De Feo
Vi riveleremo dalle nostre esperienze personali e con un po' di humor cosa (non) fare nel preparare e presentare pitch e business plan ad investitori!
US Startup Investment Market (Startonomics Tokyo, June 2009)Dave McClure
Presentation on US Startup & Seed / Angel Investment Market for Startonomics Tokyo (June, 2009). Speakers Dave McClure, Joyce Kim, Dave Troy, Ryan Pipkin.
This is a presentation I made to help teach my Leadership Senior Seminar class how to Challenge the Process. Hope others can find it to be helpful! It is based from the book called "The Leadership Challenge"
Angel Investing Made Easy, Shanti Mohan, BangaloreSanjay Jha
Angel Investing Made Easy
Workshop for angel investors; quick primer on angel investing, valuations, Term Sheets, SHA, trends, how syndicates and Lead Investor model works.
The workshop is aimed at acquainting HNIs and prospective investors with early stage risk investments in start-ups.
It is structured to impart an understanding on developing and maintaining a deal flow of startups, enabling discussions with practicing angel investors and learning through case studies which reflect the realities of angel investing in India, for HNIs and new angels in India.
Identifying user experience (UX) design to overcome challenges in unconscious biases in technology both from an entrepreneurial and consumer perspective.
The media environment has changed, and so too must your media mix. First, you are the media! (If you want to be.) Second, your audience now talks back! (Whether you want them to or not.) Learn how to maximize reach, engage audiences, be interactive, mitigate risk and achieve real business results by using integrated digital and traditional media strategies and tactics.
Social Media and Social Networking Town Hall Discussion - William Toll at Pro...ProductCamp Boston
Town hall format discussion to explore the latest trends, opportunities, and potential bariers to delivering the next generation of social networking apps to the professional as well as the perconal/consumer market. Session wil consist of 5 min intros by panelmembers with expereince in social networking, location Based Services (LBS) , and mobile, followed by open discussion encouraging input, conversation and debate from all participants.
Reuse, recycle, reduce: exploiting existing metadata at National Library of S...Gill Hamilton
This presentation was given at the Cataloguing and Indexing Group, Scotland, Web2.0 seminar on 19 April 2010.
The presentation outlines National Library of Scotland's current involvement with Flickr and explores issues with re-using existing metadata for digital objects to facilitate the Library's forthcoming participation in Flickr Commons.
Iniciada em 2011, as hqs Liga da Justiça (Novos 52), mostra a jornada dos heróis mais famosos da DC em mais uma empreitada para salvar o planeta. Batman, para combater um terrível mal, une os maiores heróis do mundo.
Core concepts in this presentation:
+ Dispelling the growth myth
+ The difference between a single hack and a growth machine
+ Perks of dominating a small market
+ Perks of tribal segmentation
+ AARRR a framework for growth
+ A routine for building a growth machine
+ Stages of growth
HEC Business school Lecture / introduction to Venture Capital, entrepreneurial finance and technology companies
Professor Olivier Younes EXPEN / guest speaker christophe raynaud ISAI
Part II is about venture capital investment thesis and part III is about how ISAI (early investor in BlaBlaCar) source and screen potential deals
"Lunch 'n Learn" Deck on "The Lean Startup"Paul Tongyoo
Led a discussion w/ fellow FOX Digital Consumer Group Product Managers on Lean Startup and its applicability to our work. I believe we're a startup! :muscle:
The Guide to Start funding presented during MBA executive session at the Stockholm School of Economics Executive Education in February 2019. It features different types of Crowdfunding, ICO, tips and tricks for speaking to both Angels, VCs and other investors. Please use the links on different slides to connect to additional material.
The Business of (Tech) Startups - MEDA Annual Conference - Apr 2014Paul Singh
Slides for my MEDA Annual conference keynote talking about the increasing intersection between venture capital, high growth tech companies and economic development.
If you're trying to get a big picture view of the things that make up the DC Tech community, you should flip through this deck.
This is a work in progress -- email me (paul [at] dashboard.io) with updates / changes and I'll make it happen.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Moneyball: A Quantitative Approach to Angel Investing (India - Aug 2012)
1. 500.co/challenge #moneyball4startups
MONEYBALL STARTUPS +
IT’S NOT SPRAY AND PRAY. IT’S A PROCESS.
PAUL SINGH
500 Startups
@paulsingh・paul@500startups.com・angel.co/paulsingh
2. 500.co/challenge #moneyball4startups
GETTING TO KNOW
500 STARTUPS BECAUSE WE’RE KIND OF A BIG DEAL
PAUL SINGH
@paulsingh・paul@500startups.com・angel.co/paulsingh
3. 500.co/challenge #moneyball4startups
THE BIG OPPORTUNITY IN EARLY STAGE TECH INVESTING:
API TO VENTURE CAPITAL
& FUNCTIONAL EXPERTISE
(FOR FOUNDERS. FOR INVESTORS. FOR GOVERNMENT.)
4. 500.co/challenge #moneyball4startups
FOUNDERS:
BUILD SOMETHING
PEOPLE WANT
5. 500.co/challenge #moneyball4startups
INVESTORS:
WRITE CHECKS AND
ADD VALUE
6. 500.co/challenge #moneyball4startups
GOVERNMENT:
MAKE LIFE EASY
FOR INVESTORS &
FOUNDERS
7. 500.co/challenge #moneyball4startups
“ VENTURE CAPITAL IS
OPEN TO ATTACK BY
DISRUPTIVE NEW
BUSINESS MODELS AND
TECHNOLOGY.
-- NAVAL RAVIKANT (@naval)
9. 500.co/challenge #moneyball4startups
EARLY STAGE
STARTUPS
HAVE CHANGED
10. 500.co/challenge #moneyball4startups
CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING
STARTUP COSTS
LOWER THAN EVERBUT SCALING STILL COSTS MONEY
11. 500.co/challenge #moneyball4startups
WEB GETS BIGGER.
WORLD GETS SMALLER.
12. 500.co/challenge #moneyball4startups
TRACTION IS THE NEW
INTELLECTUAL PROPERTY
PLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE.
NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.
13. 500.co/challenge #moneyball4startups
CAPITAL
INCREASINGLY
COMMODITIZED
RISE OF THE ANGELS, YO!
14. 500.co/challenge #moneyball4startups
NEW REALITY:
MONEY FOLLOWS
FOUNDERS
15. 500.co/challenge #moneyball4startups
SIGNALS ARE
EVERYWHERE
BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC
18. 500.co/challenge #moneyball4startups
“ UBS PROPRIETARY
SATELLITE PARKING LOT
FILL RATE ANALYSIS
POINTS TO AN
INTERESTING CADENCE
INTRA-QUARTER AND
POTENTIAL UPSIDE TO
OUR VIEW.
19. 500.co/challenge #moneyball4startups
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.
20. 500.co/challenge #moneyball4startups
IT TURNS OUT,
WE CAN DO IT, TOO SURPRISE!
21. 500.co/challenge #moneyball4startups
+ “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.
22. 500.co/challenge #moneyball4startups
SENTIMENT
ANALYSIS
WHAT IS THE TEAM THINKING? WHAT DOES THE MARKET THINK?
WHAT DO MY PEERS/MENTORS THINK?
23. 500.co/challenge #moneyball4startups
NEEDLE IN THE
HAYSTACK
REAL USE CASES: SIGNS THAT A FUNDING ROUND IS ABOUT TO
OCCUR AND/OR SIGNS THAT A PRODUCT IS ABOUT TO EXPLODE.
VERY HARD TO DO ACCURATELY BUT PAYOFF IS BIG & FAST.
24. 500.co/challenge #moneyball4startups
FASTER PORTFOLIO
TRENDS
CURRENT SYSTEMS OF QUARTERLY/AD-HOC REPORTING IS
BROKEN -- SELF REPORTED DATA IS OFTEN BIASED.
THE RAW DATA IS THERE, THE SYSTEMS TO COLLECT IT AND THE
ALGORITHMS TO ANALYZE IT ARE MISSING.
25. 500.co/challenge #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
26. 500.co/challenge #moneyball4startups
EARLY STAGE VC
IS CHANGING
HAS CHANGED
27. 500.co/challenge #moneyball4startups
STATE OF THE ART IN EARLY
STAGE INVESTING IS NOT
VERY SOPHISTICATED
TRUST REFERRALS. MOVE FAST. KEEP LEGAL/FINANCE SIMPLE.
BUILD RELATIONSHIPS WITH OTHER INVESTORS, SYNDICATE EVERYTHING.
28. 500.co/challenge #moneyball4startups
MONEYBALL
IT’S NOT SPRAY AND PRAY. IT’S A PROCESS.
29. 500.co/challenge #moneyball4startups
MY PRIMARY GOAL IS TO
BUY WINS
NOT NECESSARILY BUYING INTO THE HOTTEST DEALS.
FOCUS ON TEAM, EXECUTION, TRACTION & DATA.
(STICK AROUND... I’M GOING TO SHOW YOU HOW)
30. 500.co/challenge #moneyball4startups
INITIAL BET DESIGNED TO
GIVE US MORE DATA FOR
SUBSEQUENT BETS
37. 500.co/challenge #moneyball4startups
PORTFOLIO IRR
QUICKLY POSITIVE
(WITH SMALLER EARLY EXITS AND PROMISING DEALS GETTING FUNDED)
38. 500.co/challenge #moneyball4startups
EVEN “SMALLER”
EXITS CAN MOVE
THE NEEDLE DON’T FORGET: YOU CAN SELL POSITIONS TO
DOWNSTREAM OR SECONDARY BUYERS TOO.
40. 500.co/challenge #moneyball4startups
INDIVIDUAL BETS
ARE SMALL
MUCH EASIER TO RUN AN EXPERIMENT ON A
$50K INITIAL CHECK INSTEAD OF $250K+
41. 500.co/challenge #moneyball4startups
BAD BETS
FAIL FAST
SMALLER CHECK SIZES FORCE COMPANIES TO PROVE THEORIES FASTER.
ALLOWING INVESTORS TO QUICKLY ITERATE OUR FORECASTING/FUNDING
MODEL. FEWER “LIVING DEAD” AND QUICKER RETURN ON RESULTS.
42. 500.co/challenge #moneyball4startups
FAILURE RATES
ARE HIGH
DIVERSITY OF HIGH VOLUME INVESTING ALLOWS FOR HIGH ERROR RATE.
FUND IRR QUICKLY POSITIVE WITH SMALLER, EARLY EXITS AND PROMISING
DEALS GETTING FUNDED.
DILIGENCE HAPPENS IN THE REAR VIEW MIRROR, NOT THE CRYSTAL BALL.
43. 500.co/challenge #moneyball4startups
ALLOCATE FOR FOLLOW-ONS
30% Capital - Initial Bets
target 10-20 deals
70% Capital - Follow On
filter out failures, follow-on the top 20%
(...OR “HOW TO AVOID GETTING SQUASHED”)
44. 500.co/challenge #moneyball4startups
DEAL TERMS
SO YOU FOUND A STARTUP YOU LOVE?
46. 500.co/challenge #moneyball4startups
CONVERTIBLE NOTES
ARE OK (REALLY!)
LOWER LEGAL FEES, LESS DOCS, QUICKER TO EXECUTE. WHEN
CAPPED, THEY FUNCTION SIMILAR TO PRICED ROUNDS.
47. 500.co/challenge #moneyball4startups
STANDARD DOCS
ARE YOUR FRIENDS
WHEN IN DOUBT, DO NOT INNOVATE IN FINANCE OR LEGAL
48. 500.co/challenge #moneyball4startups
PRO RATA &
INFO RIGHTS
ALWAYS. ALWAYS. ALWAYS. ALWAYS. ALWAYS. (GET IT?)
49. 500.co/challenge #moneyball4startups
FOCUS ON
VALUATION &
MULTIPLES
OWNERSHIP % MATTERS MUCH LESS. FOCUS ON REQUIRED EXIT
SIZE RATHER THAN SOME MYTHICAL OWNERSHIP TARGET.
50. 500.co/challenge #moneyball4startups
IT’S HARD TO MAKE
MONEY ON
VALUATIONS > $5M
(PRO TIP: CONSIDER MIN. RETURN REQUIREMENTS FOR DOWNSIDE SCENARIOS)
51. 500.co/challenge #moneyball4startups
YOUR PRIMARY GOAL
LET FOUNDERS GET
BACK TO WORK
THIS IS A LONG GAME: AVOID LOSING YOUR REPUTATION OVER 1%.
WHEN IN DOUBT, LEAN TOWARDS THE ENTREPRENEUR.
53. 500.co/challenge #moneyball4startups
MOST BOARDS
PROVIDE MINIMAL
VALUE-ADD
54. 500.co/challenge #moneyball4startups
BEST DEALS USUALLY
REQUIRE LIMITED
BOARD SUPPORT
SPEND YOUR TIME SOURCING NEW DEALS. LIMIT TIME ON
SIDEWAYS DEALS. LET THE WINNERS KEEP ON WINNING
(AND ANSWER YOUR PHONE WHEN THEY NEED YOU).
55. 500.co/challenge #moneyball4startups
DO NOT INNOVATE IN
FINANCE OR LEGAL
56. 500.co/challenge #moneyball4startups
INVESTING
IS A PROCESS
DABBLING IN INVESTING IS (AT BEST) GAMBLING. BETTER TO
WALK AWAY OR PURSUE INVESTING NEARLY FULL TIME OR
FIND SOMEONE TO MANAGE YOUR MONEY
57. 500.co/challenge #moneyball4startups
BE AN ACTIVE
INVESTOR
PORTFOLIO EFFECTS & THE LEAN STARTUP MOVEMENT ARE YOUR FRIENDS
YOU CAN EXPECT FAVORABLE WITH 10 DEALS BUT IT TAKES 20+ TO BE SAFE
58. 500.co/challenge #moneyball4startups
BE A SMART
INVESTOR
FOCUS ON INFORMATION ASYMMETRY & PRICE/MULTIPLES.
59. 500.co/challenge #moneyball4startups
“ BY ITS NATURE, THE
INTERNET UNDERMINES
ANYONE WHOSE STATUS
DEPENDS ON
PRIVILEGED ACCESS TO
INFORMATION.
-- MICHAEL LEWIS
60. 500.co/challenge #moneyball4startups
THE BIG OPPORTUNITY IN EARLY STAGE TECH INVESTING:
API TO VENTURE CAPITAL
& FUNCTIONAL EXPERTISE
(FOR FOUNDERS. FOR INVESTORS. FOR GOVERNMENT.)
62. 500.co/challenge #moneyball4startups
MONEYBALL STARTUPS +
IT’S NOT SPRAY AND PRAY. IT’S A PROCESS.
PAUL SINGH
500 Startups
@paulsingh・paul@500startups.com・angel.co/paulsingh