Introducing our new venture capital firm Andreessen Horowitz(blog.pmarca.com)
blog.pmarca.com
Introducing our new venture capital firm Andreessen Horowitz
http://blog.pmarca.com/2009/07/introducing-our-new-venture-capital-firm-andreessen-horowitz.html
10 comments
I would have seen this as good news, if I hadn't read this article the other week: http://www.chartingstocks.net/2009/03/ning-exposed-tech-comp... . I noticed Marc stopped blogging just before the first questionable action that's reported in the article. Marc's blog posts in 07/08 were fantastic stuff, but the behaviour of his current business, with no reasonable response that I could find, undermines his otherwise good reputation. Does anybody know more about what's going on here?
see this thread:
http://news.ycombinator.com/item?id=689521
http://news.ycombinator.com/item?id=689521
It is unfortunate that someone so geeky doesn't take the kind of approach PG does, with the YC application. It seems to me a detailed application and a video should be the preferred way for a VC to screen deals.
I've hired great people based on personal referrals, but I've also hired great people based on resumes and interviews...
That said, I'm really excited for them and can't wait to see who they invest in and what the outcome is.
I've hired great people based on personal referrals, but I've also hired great people based on resumes and interviews...
That said, I'm really excited for them and can't wait to see who they invest in and what the outcome is.
>It seems to me a detailed application and a video should be the preferred way for a VC to screen deals.
Maybe if they have a lot of time to read applications, but for the very large companies this fund is going for, the referral system really just works.
Maybe if they have a lot of time to read applications, but for the very large companies this fund is going for, the referral system really just works.
I agree, for large companies, referral makes sense.
But they were quite clear they want to get involved in seed stage and for that, referral-only is another way of saying "innovation, but only where it comes from certain connected people in a few places". Innovation is occurring everywhere and yet it languishes. It needs people like Marc and Ben. If they are serious about seed funding (and they have been and they should be), they need to set up a more indirect process as well.
But they were quite clear they want to get involved in seed stage and for that, referral-only is another way of saying "innovation, but only where it comes from certain connected people in a few places". Innovation is occurring everywhere and yet it languishes. It needs people like Marc and Ben. If they are serious about seed funding (and they have been and they should be), they need to set up a more indirect process as well.
I would think the opposite. With large companies there's a track record and probably enough visibility that the investor knows of their existence and could approach the company directly. Look at the way Fred Wilson works. It seems like he often starts by trying out the product before he knows the team(although he may spot them through his own web of connections).
With smaller investments, there's so many, it seems clear that there needs to be a filter to what you see. From the outside, it might seem like you need to be on the in-crowd in order to get a referral, but there are actually plenty of ways to work your way up to that referral by impressing people on the periphery.
One of my friends just took (or maybe is just about to take) money from Marc and he started out as an unconnected founder. But he worked is way into the meeting by impressing a series of people. The process, though, took two years, went through at least three levels of filters. So start by impressing the people around you. If you really are impressive, they'll introduce you to more people.
However, if you have an idea, nobody will vouch for you, and you need money now, then you're probably not going to get money even if you could get a meeting with Marc.
With smaller investments, there's so many, it seems clear that there needs to be a filter to what you see. From the outside, it might seem like you need to be on the in-crowd in order to get a referral, but there are actually plenty of ways to work your way up to that referral by impressing people on the periphery.
One of my friends just took (or maybe is just about to take) money from Marc and he started out as an unconnected founder. But he worked is way into the meeting by impressing a series of people. The process, though, took two years, went through at least three levels of filters. So start by impressing the people around you. If you really are impressive, they'll introduce you to more people.
However, if you have an idea, nobody will vouch for you, and you need money now, then you're probably not going to get money even if you could get a meeting with Marc.
This caught my eye: "We have the ability to invest between $50 thousand and $50 million in a company, depending on the stage and the opportunity." Somebody sees an opportunity!
I really hope he starts back up again; many of his posts have been absolute gems.