msuster

6 ms·

1.
by msuster 12y ago
This is mark (the author). I totally get why i would be seen as biased. I have given this advice hundreds of times in small sessions verbally and I REALLY have no interest in driving my point of view for me. I do 2 deals a year. It barely m
2.
Why You Must Call High in Tech Sales(bothsidesofthetable.com)
1 points by msuster 13y ago|0 comments
3.
by msuster 14y ago
"massive boondoggle" because you were there and know what my business there was? I was there meeting tech professionals, VCs, government officials and investors in VC funds.
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by msuster 14y ago
I went to China to meet with tech firms, VCs and government officials. And to learn about the funding environment for Chinese firms investing in VCs. I know that Dave also met with LPs (who invest in in VC funds). But thanks for making the
5.
by msuster 14y ago
I read your response, David. Frankly, I think you do many entrepreneurs an injustice in assuming that I'm talking about VC funded entrepreneurs only. At my talk at University of Chicago I repeated advice I give every time I speak "90+% of y
6.
by msuster 14y ago
Not true. The full ratchet is implicit in the deal. If the deal said $8m cap and next investor invests at $4m then the deal gets done as $4m and doesn't impact the next investor. It comes out of founders' equity. It is the "equivalent" of a
7.
by msuster 14y ago
I didn't miss that point. I agree with what you say. But - there are very few companies that could pull this off so my post was to point this out to people. It may be obvious to you but all the chatter this week has been about getting big r
8.
by msuster 15y ago
that is EXACTLY what happened in the situation I described. We hadn't yet signed the term sheet. So I told the CEO that I would understand if he went with the other firm. But that I personally couldn't be involved with the deal for reasons
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by msuster 15y ago
My term sheet wasn't signed so I would have understood if the entrepreneur chose the other partner. In the case of the new vc / old vc example that wasn't me ... yes, there was a 'no shop' clause. but ... 1. those are mostly unenforceable (
10.
by msuster 15y ago
term sheets have "no shop" clauses which prohibit you from talking with other investors. But they're pretty unenforceable so it happens anyways.
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by msuster 15y ago
I definitely have never argued that all VCs are good or even that good VCs always act appropriately. That's for sure. I think the key is knowing the parties with whom you're dealing and knowing their past behavior. I advocate reference chec
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by msuster 15y ago
I think the "new VC" acted terribly.
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by msuster 15y ago
Thank you. I wish more people saw it that way. I always believe in negotiating / seeking competitive deals. But once you agree a deal with people you honor it.
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by msuster 15y ago
Nope. I was an entrepreneur for 10 years first. I always employed this mentality. Reputation matters.
15.
by msuster 15y ago
Fair comment. I could see why it might come across that way. The impression I meant to leave was that I risked losing out on the deal all together because the CEO could have simply done the deal with the other investor. I would rather that
16.
by msuster 15y ago
I understand that view. And I've certainly been burned. Still, if you're dealing with a VC there is much you can do to reference check them before signing a term sheet. This involves talking with portfolio companies that DID NOT succeed. I
17.
by msuster 15y ago
Ok. Fair enough. Thanks for expanding. FWIW, in the busy execs hate lunches post - I was really just trying to offer honest advice to young entrepreneurs. I do lunches all the time. But I also get requests from random people I don't know to
18.
by msuster 15y ago
And why is that, Michael? Which bits did you find objectionable? What would you prefer to hear? People negotiate. We can pretend they don't, but they do. For business people it's important to understand that. But I'm all ears if you think I
19.
by msuster 15y ago
As Woody Allen said, "80% of success is just showing up" but I didn't think that made a good line for a blog post ;-)
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by msuster 15y ago
In 20 years of giving & receiving presentations I can tell you that this is actually the second most important advice I can give: if you can avoid handouts do so. (the most important is the importance of "the narrative" which I'm going
21.
by msuster 15y ago
I spent 8 years in the trenches. If you want to argue with my position I'm open to a discussion. But merely saying people who don't agree with you are "primadonnas" is a bit superficial.
22.
by msuster 15y ago
re: "I'll risk a 50/50 gridlock in decision making over having someone tell me what to do everyday at "my" company any day." why not just make sure that you're the majority owner of your next company. I can see the resentment this situation
23.
by msuster 16y ago
I accept that this is possible. If I were Twitter in this case then at worst I would issue a public statement of why they don't support UberTwitter's moves and I would encourage users to migrate over 72 hours if they saw fit. Then at least
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by msuster 16y ago
empowerment of people to socially engage & communicate is the basis on which all democracy is built. That is what is beautiful about Twitter. Shutting down competition or dissension is decidedly undemocratic.
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by msuster 16y ago
I'm not sure which bit was misinformed. If I learn that some bit was I will correct it. My premise holds: - issue a public warning to UberMedia & its users and allow 72 hours - if not resolved take action then - don't issue an advertise
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by msuster 16y ago
ha! awesome! re: Twitter - it's not that it "replaces" email. I just find that when I land on a plane and reach for my blackberry and have a choice between email or Twitter I find myself doing the latter. I get way too much email. I read it
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by msuster 16y ago
You're totally right that Twitter "has a right to enforce their trademarks to reel in other people trying to make money off of their product." That isn't in question. My argument: - today they affected millions of users - they should have f
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by msuster 16y ago
Thank you! I'm glad somebody on HN got it!
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by msuster 16y ago
It was called irony. It was meant with humor. My views were already publicly expressed & known on Quora. See: http://www.quora.com/Why-did-Twitter-suspend-UberTwitter/ans...
30.
by msuster 16y ago
I didn't say I don't use email. I just use it much less than previously. It's funny but the opposite is also true. The fact that people can write really long, verbose emails can be as much of a productivity drain as anything else inside of

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