I’ve started several computer businesses with venture capital funding. Successful VCs are very sharp and leave no empty chair unturned. Only an idiot with no business experience would go into a VC grilling thinking he could get away with lying about his finances.
If you mess up your first VC meeting, the only reason for a second meeting is for them to finish humiliating you. Look for Romney to sharpen up his message on October 16.
Biden will take a different strategy. He will simply make up facts as he goes along, and hope that Ryan is unprepared to deal with a full time pathological liar.
VC’s are not known for being tolerant of BS.
There are two types of situations which VCs are willing to spend time on. 1. Working with people who can make them money. 2. Destroying people who attempt to steal their money.
I have had experience with VC’s who focus on $1M or less in first-round investments, as well as VC’s in NYC who don’t care unless they are investing at least $50M. In all cases, the VC people were extremely sharp. In a typical meeting the VC’s identified the soft spots in the business plan within minutes, and then boreholed into details, often making recommendations on how to resolve the issues. Their depth of knowledge in their focused business sector was breathtaking, especially regarding recent news and short term trend predictions (18 months out). It was truly a humbling and valuable learning experience.
When I was a University professor, I adopted the VC’s approach in committee meetings with fellow faculty. What was televised last night brought back fond memories.
VC’s don’t suffer fools like Obama very well.
In fairness, Rick Perry and Newt Gingrich accused Romney of being a vulture capitalist also.
http://www.youtube.com/watch?v=6BX-NsPpzeM
Who cares?
We should only care about lies from the left, huh?
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