By guest authors Irina Patterson and Candice Arnold
Irina: Who do you think will come and fill this $6 million to $8 million gap?
Mike: It’s a good question. I guess you could argue that as the gap widens, you could even segment the gap itself. >>>
By guest authors Irina Patterson and Candice Arnold
Irina: What are the key drivers of superangel investing?
Mike: There is a combination of things. I think that part of it is low cost, but there’s a subtlety to it as well, which is this notion of hyper-agile behaviors in a company.
So, if you’re able to leverage open source software and these variablized costs around Web services and search engine marketing, you’re able to experiment at a much greater rate. And, if you can experiment at a much greater rate, you can fail quickly on the ideas that don’t work and then double down on the winning ideas faster. >>>
By guest authors Irina Patterson and Candice Arnold
This is the twelfth interview in our series on financing for entrepreneurs. I am talking to Mike Maples, managing partner of Floodgate, a fund with the superangel approach that bridges the gap between initial seed money raised from traditional angel investors and traditional VCs, and aims to find the fifteen most valuable companies that are created in any given year. >>>
By guest authors Irina Patterson and Candice Arnold
Basil: I remember when I was I student, I had no idea about business or life. It’s embarrassing how little we know in our early twenties, and what I’ve been trying to do is influence as many students as I can to think about entrepreneurship as a business and life decision. >>>
By guest authors Irina Patterson and Candice Arnold
Irina: And now what could angels do to increase their chances of success?
Basil: I think for angels . . . number one is education. Angel investing is also changing right now, faster than ever before. There have been angels since we lived in caves. >>>
By guest authors Irina Patterson and Candice Arnold
Basil: Finding good mentors it is something that you can do that’ll make a big difference in your success. I would go even further – and I think it’s a natural law. I have for more than ten years been going out looking for successful entrepreneurs who do not have mentors. >>>
By guest authors Irina Patterson and Candice Arnold
Irina: If you were to get into a situation where you could collect dividends for a long time, would you still think of early exits?
Basil: There are two parts to the question, I think. One part is, is that a good thing to do? Another part is, do I want to do that? I’m kind of an exit guy. I like exits; they get me excited. So, I tend, personally, to prefer companies that will exit. >>>
By guest authors Irina Patterson and Candice Arnold
Irina: I saw you tweeted that Google wants to buy pre-revenue companies.
Basil: Yes. I was fascinated to hear Charles Rim, who’s one of the top five guys at Google who buys companies, said that on a webinar, M&A class, offered by a group called Corum. Yes, he said that. >>>