Wonderful conversation with Jason Lemkin. Prior to becoming a VC, he was the CEO of EchoSign, a digital signature SaaS vendor that Adobe acquired some years back. This was an excellent discussion and offers very concrete pointers to where you might look for white spaces in the cloud computing space to do new ventures.
Discussion with Bryce Roberts, Managing Director, O’Reilly AlphaTech Ventures (OATV), and Founder, Indie.vc. We covered the issues with the venture capital financing model, and explored alternatives.
Conversation with Naren Gupta, co-founder of Nexus Venture Partners, a firm with an excellent track record of investing in the Silicon Valley – India corridor, but with a global market point of view. The conversation is full of insights, nuggets, and interesting wisdom from a veteran investor who is also strikingly polite and humble.
Sramana Mitra: Your company seemed to have somehow found its stride, but you left. When you left that company, what did you do next?
Allan Wille: It’s a long story. I’ll put out some of the highlights. We started Klipfolio in the fall of 2001. At that time, since all I knew was the funding scenario, the idea was we’re going to go out and raise money. That’s what we did with the first company. Of course, there was no angel and VC in their right mind who was going to invest in a pre-revenue startup. That was a very good lesson for me. >>>
Sramana Mitra: Very typical overfunding, lack of discipline story.
Allan Wille: It really is. I don’t think we’ve seen that kind of feverish pitch to the same degree. We saw IoT and Big Data, and now we’re seeing the same thing with AI. I think there’s a lot of money being thrown at some of these companies, perhaps, prematurely.
Sramana Mitra: There’s plenty of money being thrown around, especially in this whole unicorn phenomenon. You may have seen it already since you follow my work. We’re doing this Debt by Overfunding series right now.
Allan Wille: I’m a big believer that funding at the wrong time can be a kiss of death. >>>
Sramana Mitra: Right now, you are equating low cost with untrained labor. It doesn’t have to be so because there is such pressure on jobs. Over the next 30 years, the level of pressure on jobs is going to be tremendous. The level of unemployment is going to go through the roof because of automation. You have all these excess people who can be trained to provide trained care at low cost. That’s probably going to be one of the trends of American society.
John Damgaard: Supply and demand works. You have an available labor pool. It will be put to work. It still doesn’t solve the fact that if you look at the demographic imbalance and the number of young people versus the population of the elderly, we are a rapidly maturing society. Even if they had nothing else to do, there’s not enough of them to provide the care, given the logistical challenges. Trained or untrained, all of that doesn’t matter. There’s not enough labor to go around. >>>
In case you missed it, you can listen to the recording here:
Entrepreneurs are invited to the 346th FREE online 1Mby1M mentoring roundtable on Thursday, March 30, 2017, at 8 a.m. PDT/11 a.m. EDT/8:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.