

Do You Have What It Takes to Start Up? (Startup Manifesto) - techieinafrica
http://iafrikan.ticketleap.com/startup-manifesto/details

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MichaelCrawford
Why are so many people so enthralled with startups?

I've worked for lots of startups. I'd much rather work for a company that is
not a startup.

Consider that even if management has a clue, the VC might not. I once worked
for one of the very first electronic medical records vendors. Our VC dropped
by one day to ask use what our "Internet strategy" was. We didn't have one,
that's not what hospitals do.

Several times I've seen perfectly good companies totally destroyed by venture
capitalists.

If you do choose to go looking for funding, consider whether you really want
to accept it if it is offered to you. Don't accept it from just any VC; look
into the experiences of the other companies they've funded. Not just whether
they had a successful IPO; look into the press about their other portfolio
companies. If you can, speak with some of the employees of those companies.

Some VCs, such as Ann Winblad of Hummer-Winblad Venture Partners, are very
very good. You would do well to have someone like Ann behind you.

A VC that I actually met, made his fortune through profound copyright
infringement. Despite losing in a lawsuit settlement, he kept enough money
that he was able to back a successful product. Now he regards himself as
possessed of great wisdom.

When he sat right next to me at a cafe, I speculated he might have been
interested in investing in my company.

I wouldn't touch a guy like that with a hot rock.

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Involute
When did "start up" become a verb?

