App charges founders $2500 for VC meetings(sfstandard.com)
sfstandard.com
App charges founders $2500 for VC meetings
https://sfstandard.com/2024/07/12/intro-cameo-techie-meeting-call/
24 comments
I agree that the title is a bit clickbait-y, but HN doesn't let you editorialize titles when posting articles.
A more accurate title would have been "Some VCs..." though it has become standard practice in journalism to omit a leading "Some."
Maybe "App charges founders $2500 for VC meetings"?
A more accurate title would have been "Some VCs..." though it has become standard practice in journalism to omit a leading "Some."
Maybe "App charges founders $2500 for VC meetings"?
I've changed the title since a lot of people think the article's own original title is "misleading or linkbait", as per the guidelines: https://news.ycombinator.com/newsguidelines.html
Ah, the delightful Nikita Bier is featured as a success story using this tool. I was in a business incubator with this guy, he was the biggest scammer I have ever met. He took hundreds of thousands of money from the Knight Foundation for a business he never planned to build. Scrapped the company, then sold a bunch of addictive teen apps to Facebook
Some corrections to your claims:
- Knight Foundation invested $120,000 as a convertible note
- They received 2.75x return on their investment
- The entity stayed the same between pivots: the company was never "scrapped"
- Knight Foundation invested $120,000 as a convertible note
- They received 2.75x return on their investment
- The entity stayed the same between pivots: the company was never "scrapped"
I think this is great. I've recently been able to make use of a random other network and had a few 30m calls that have been pure, absolute value. Being able to pay for access is better than simply not having any access whatsoever.
This is misleading.
The idea behind the site was to allow founders to approach the VCs with any question not just to pitch or network. For example, I was planning to use it to ask for guidance on a go to market issue.
I actually think sites like this are a great way for people to get expert advice that normally are only available to the experienced or well connected. Be nice if the people were doing it for altruism and not making money on it.
The idea behind the site was to allow founders to approach the VCs with any question not just to pitch or network. For example, I was planning to use it to ask for guidance on a go to market issue.
I actually think sites like this are a great way for people to get expert advice that normally are only available to the experienced or well connected. Be nice if the people were doing it for altruism and not making money on it.
We've thought about the idea of offering interviews to anyone who wants one at cost (so even if we couldn't get you a job, you could come take our interview, get feedback, and we could post about you publicly [with consent] if you did well and wanted the signal boost). Feels like kind of the same type of thing.
In general I find it kind of hard to criticize any offering isomorphic to "we weren't offering this thing before and now we are, here's what it costs". At worst you just...don't pay for it.
In particular, the article opens with:
> Silicon Valley has long run on an ethos of pay-it-forward generosity, where people connect friends or acquaintances to others in their network who might be able to offer advice.
which is just another way to say "hope you're in the club, because you're not going to get into it if you aren't". Surely offering the ability to buy some access to the club is better than just having it all based on personal networks.
In general I find it kind of hard to criticize any offering isomorphic to "we weren't offering this thing before and now we are, here's what it costs". At worst you just...don't pay for it.
In particular, the article opens with:
> Silicon Valley has long run on an ethos of pay-it-forward generosity, where people connect friends or acquaintances to others in their network who might be able to offer advice.
which is just another way to say "hope you're in the club, because you're not going to get into it if you aren't". Surely offering the ability to buy some access to the club is better than just having it all based on personal networks.
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Sounds like an advance fee scam to me
https://www.occ.gov/topics/consumers-and-communities/consume...
https://www.occ.gov/topics/consumers-and-communities/consume...
How so? How can it even be an advanced fee scheme, if there is no promise of later rewards?
The article paints it as a scammy gallery of self promoters wanting to equate their value with the well known people on the platform.
The well known people are likely to exit such a rogues gallery fairly quickly.
The well known people are likely to exit such a rogues gallery fairly quickly.
I have heard this is happening with angel investors too. Reaching out via X offering $500 for a 20 minute consultation about your app.
CPC of $2500 isn't bad for the potential upside
Late stage bull run for sure.
If you want money, ask for advice. If you want advice, ask for money.
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Some people in my network do this. Others don't.
I personally think it's a bit scummy, but then again, I also limit access to only those who get a warm intro from someone IK to me.
To each their own.
I personally think it's a bit scummy, but then again, I also limit access to only those who get a warm intro from someone IK to me.
To each their own.
Clickbait title
Ad for Intro
tax what you want less of.
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the article is interesting but the title is completely false
The app allows you to book appointments with specific people who claim significant expertise. The article does not suggest that VCs are asking founders for a fee to present their pitch.