DISQUS

Don Jones - VentureDeal · 1 year ago

Although I'm in favor of more visibility into VC firms, I wonder about the real value of more "anonymous" ratings. Here's a thought experiment, if TF was all anonymous, would anyone care what was written? To me, opening the floodgates to anonymous ratings is a recipe for irrelevance.

edahan · 1 year ago

I am a longtime member of TF. Granted, a noticeable # of posts are personal rants, petty whining and irrelevant comments (kinda reminds me of a political campaign).

BUT - the overwhelming majority ofdi posts on TF are objective, sincere and worthy of
discussion.

I take issue with Don Jones' comment about Anonymous = Irrelevant because of the uneven playing field of the VC and the Entrepreneur. Sooner or later, 99.9% of all seed / startup ventures will need funding. They will have advanced beyond the friends&family money and possibly even some outside angel-level money.

Now, they have to visit the VC - a place where, enough times to make it a constant thought, the Entrepreneur genuflects while the VC pontificates.

Now, they have to go to a funding presentation at a top tier VC only to have the EIR show up 1/2 hour late for the meeting; put his cowboy boots up on the conference room table; and start off by saying, "so tell me why I should be your CEO ?"

I do not want this post to focus on this one instance - I do want to use this one instance as a real example of what happens - an awful lot.

So, Don, before you equate Anonymous with Irrelevance, please understand the survival mode in which most entrepreneurs live and the stuff they have to put up with to get VC funding.

VC Watcher · 1 year ago

We've been involved the SV investment scene for 25 years now, and it has never been this bad when it comes to inappropriate behavior. The concept of investment as a hard-working profession is undermined by unscrupulous vindictive behavior. TF would not exist if the majority of VCs in the Valley followed well-established and successful investment processes, handled their meetings and communications succinctly and timely, disclosed conflicts-of-interest and handled legal / financial negotiations in a forthright manner. There are still good VCs out there, but as the lemmings rush to pursue me-too deals (urged on by ill-informed limited - what ever happened to "managing your managers"?), quality of deals is reduced, our industry suffers from lack of innovation, and the distrust between entrepreneurs and investment grows. The contempt of younger VCs towards anyone experienced (a form of envy spawned by a fundamental lack of confidence in their decisions) and the rampant theft of entire business models, IPR and even teams introduced in confidence in meetings by even established venture firms is unsupportable. The justifications I hear from partners at these firms is that "everybody else does it" and "there's always somebody else coming along". Sadly, our industry and our national security suffer the most from these decadent and immature rationalizations. The development and policing of an investment code of conduct, similar to that used by medical and legal professionals, is necessary to return investment to the once-proud profession that laid the groundwork for the innovative successes we take for granted today.

T. Ruth · 1 year ago

being that the signed material on TF is 99% obsequious BS, it would be a real nice outcome if this news inspired more anonymous VCtims to let it rip on TF's discussion boards.

Steven Roussey · 1 year ago

Anonymous speech has its place, despite its often abuse, particularly when there is a large power differential. Politics come to mind, for example. At the same time, anonymous generally also means unsubstantiated, and is just a data point.

As a reminder, just look to one's spam folder hints on what stocks to buy, and to whom in Nigeria to send your bank information for that long lost relative you never knew...

Pat · 1 year ago

Anonymous = honest.

With no fear of retribution, you can say what you feel. Lets not forget the balance of power here as witnessed by this latest attack.

VeteranCEO · 7 months ago

The VCs have been doing this to entrepeneurs since Sand Hill Road was paved. They simply don't like a slightly more level playing field

FundedCEO · 1 year ago

I have used TheFunded to give honest and blunt feedback…some good, some bad. Now I am very worried that the VC firms that I gave honest (but negative) feedback on will come after me! I am not a ‘techie’ so all this stuff about security and anonymous identities on the web goes over my head. How likely is it that anything will come of this? Should I go back in and delete all (good and bad) of my comments on TheFunded’s site?

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