VentureBeat - Latest Comments in TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Anthony Ha — Wed, 23 Apr 2008 16:27:27 -0000

@Chris You're not the only one.

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Chris Mancini — Wed, 23 Apr 2008 16:24:34 -0000

@anthony - I cannot believe I did not notice that disclaimer at the bottom...I feel like an idiot...

Chris

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Anthony Ha — Tue, 01 Apr 2008 21:34:59 -0000

Jason -- Fair enough. But if I've learned one thing at VentureBeat, it's this: Even if an idea is stupid, it might still get funding.

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Jason — Tue, 01 Apr 2008 17:30:06 -0000

I think this site could easily backfire for VCs. I doubt that VCs would openly discuss entrepreneurs on such a website.

If you ever had the privilege of having some more behind-the-curtain encounters with some of the very best VCs, you would know that the very best are very secretive (especially among their peers) about their encounters. Rarely have I heard of a VC signing on a deal because of good reputation from another VC (why didn't that VC invest in that idea then himself?).

Remember how arrogant Larry and Sergey were when they pitched Google? Remember how many VCs turned them down before they got their first round of capital? VCs never regret turning down a bad idea, but they do regret turning down great opportunities. If this site keeps track of such mistakes, I bet there are a lot of investors (LPs that is) who would want a database of that. Even better if VCs offer that information themselves.

Depending on the amount of comments, I would also assume that the whole image of VCs always being so super busy and engaged about their portfolio companies would change. I would take it as a red flag should a VC tell me that he was late for a meeting because he had to write his comments on theunfunded.com.

It is not in a VC's interest to burn bridges with any entrepreneur. The opposite is actually the case. Who knows? Maybe the entrepreneurs need a second funding later on or maybe they changed their idea and are on to something big?

So, after all, a nice April's Fool's joke, but if you had a clearer mindset about the real landscape you would have probably identified that joke earlier (no offense VentureBeat, TC had me on this as well for some minutes :-)

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Marc Fawzi — Tue, 01 Apr 2008 00:52:38 -0000

Correction: my reply was a follow up to anthropocentric not Anthony.

And I guess I need to clarify that what I was referring to falls under "reference checking" not defaming, i.e. candid but not demeaning.

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Marc Fawzi — Tue, 01 Apr 2008 00:29:55 -0000

@Anthony:

You wrote: "April Fools. What VC would do this?"

VCs and IPO underwriters always talk to each other before hiring a CEO to take a company public or funding some startup.

There is in fact a Virtual "The UnFunded" going on email channels.

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Anthony Ha — Mon, 31 Mar 2008 23:26:39 -0000

Mark -- Yeah, it's one of those things that seems really unconvincing in retrospect, yet I spent a decent portion of the afternoon talking about it with other VentureBeat writers and putting this article together.

Oops.

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Mark Bao — Mon, 31 Mar 2008 22:09:30 -0000

TechCrunch has been perpetuating several April Fools items, including their own. They got me with this one.

Have to say, though, very convincing.

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

anthropocentric — Mon, 31 Mar 2008 20:59:47 -0000

April Fools. What VC would do this?

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Anthony Ha — Mon, 31 Mar 2008 20:36:46 -0000

Chris: Did you read our disclaimer?

Re: TheUnFunded asks entrepreneurs: You can dish it out, but can you take it?

Chris Mancini — Mon, 31 Mar 2008 20:34:17 -0000

It scares me that VC's could be posting negative comments on my performance. You cannot tell me that if I do a smashup job they will post it on there, but if I am overly nervous and bomb it, I bet I would be on the site in less than 15 minutes.

It is comparable to being blacklisted on Google's search listings, there is quite a bit at risk.

Chris Mancini
http://www.propertystampede...