It's been really quiet on the Internet Bubble front, because no one likes that narrative. It's bad for everyone! (Except some people.) But here's a report from close to the startup incubators that makes it pretty obvious that nothing's changed in the last year. Or if it has changed, then for the worst: "Y Combinator had sixty-five companies present. And we saw 500 eager investors, frenzied almost, excited to invest in entrepreneurs. One investor emailed me four times, texted me three times, called me and sent me a message on LinkedIn—desperate to get a check in before the round closes. No business plans, not even pitch decks this time. One 2-1/2 minute pitch and a quick follow up meeting. Seven figure seed rounds that can be closed within days and oversubscribed 2x to 3x. Founders with no experience fundraising and no pre-existing networks, making connections with top tier guys." Unfortunately, and while I usually agree with Jason Freedman, the entrepreneur and writer here, one of his solutions is that startups should raise more money in their initial rounds. How about zero? Raise zero dollars. It's incredibly effective.
Monday, April 9th, 2012
37 Polly Asks: New York Magazine Wants Me to Write Ask Polly For Them. Should I Tell Them to Piss Off?