Valleywag
In today's Tech Ticker episode, venture capitalists Sharon Wienbar and Pascal Levensohn explain to Sarah Lacy how entrepreneurs can avoid getting fired during a downturn. We watched and took notes. Below, the clip and notes on the VCs' six essential points:
- 0:30: VCs need to better set founders' expectations. And vice versa, too.
- 1:27: Don't spend.
- 2:15: Don't respond to a bad quarter by doubling-down on engineering. Prune your management team.
- 2:55: If you take VC, you have to play by their rules.
- 3:29: Do you want to be rich or do you want to be king?
- 5:31: Fiduciary duty is the board's concern (not the founder). In other words, they have to look out for all the shareholders.
- 6:08: VCs make the most money when the founder goes all the way. The suit just wants money.
Comments
Step #1: Do not let the VCs get control over the board.
Hahaha, if you take a single dollar from a VC, or anyone other than you for that matter, you have lost control of your board.
A better step #1 is to make sure your VC is in it for the long haul (philosophy: company buillder)
Step #0: Learn about profitability and cheaper capital sources. Avoid VCs.
Raise your hand if the only reason you clicked through on this story was to see Sarah's legs...
"These boots are made for walking… Are you ready boots? Start walkin'!"
She dressed appropriately for the subject.
@OaklandTechie: I clicked through to make sure she was wearing something below the waist. In the thumbnail it looks as though Sarah's wearing a kinky French maid's getup...
Names like "Sharon Webinar" remind me why I got into the blog commenting industry.
Say "uh huh" a lot, it sounds like you're listening. "Right"
ps. Who dresses SL, The Cheesecake Factory? Playskool?
@OaklandTechie: You like those?
Harry "just wondering" Wang
@OaklandTechie: wow, you hit the nail on the head
I just cant get over the fact Lacy is wearing a mini-skirt and fuck me boots on a serious business show. Is she trying to pick Pascal Levensohn up, or is it a sign of how down market Yahoo has gone?
*raises hand* I don't even know who that is, and I clicked.
@SnarkTard: I thought it was a Snow White costume.
Keep flashing those gams ala Katie Couric!
That is a seriously stupid outfit (Tim Faulkner is right) but there's nothing wrong with the boots.
By the way, couldn't this post all be boiled down to just one point:
yoga makes it easier to grab your ankles?
This is such a silly video. It boils down to: don't trust yourself, trust us.... give us the ownership of your company and it will all be ok.
Hah!
@BartKela: right on. I'd even makeit Step 0 since it's so elemental.
Ridiculous outfit.
Man, she had about 40 too many Mmm-hmm's , 30 too many Uh-huh's, and 15 too many Right's. Awful interviewer.
@ZukeZuke
agreed - I had to stop watching after half a minute - her constant interruptions are just so annoying. Horrible interviewing style.
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