

Redeye VC: Welcome FundersClub - jkopelman
http://redeye.firstround.com/2012/08/welcome-fundersclub.html

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biznickman
So the fact that they spammed my Facebook wall after joining is unacceptable.
You want people to trust you to write multi-thousand dollar checks and then
make random Facebook posts on their behalf without disclosing it to them.

This seems like the absolute worst way to build a brand around something that
requires SUBSTANTIAL trust.

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callmeed
Exactly why I denied posting permission when signing up.

I was worried they'd do that.

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dave1619
Will investors be able to meet the startup founders at all? Or is this kind of
like blind investing where you just look published stats and such?

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shenberg
Unlikely that you'll meet the founders - It's not worth it for a founder to
meet someone for a $1k investment (the minimum allowed).

Seems more like an easy way for you to spread your risk over several start-ups
with smaller investments in each, as opposed to putting a larger sum + time
and effort in a single company.

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dave1619
It would be great if startup founders offered potential FoundersFund investors
the opportunity to Skype with them. Or to save time for founders, they could
offer a Google hangout at a specific time for potential investors to drop by
and ask some questions. Kind of like an office hours for potential investors.

Some 2.5k investors might up their investment to 5k, and some 10k investors
might up their investment to 25k. I think that would be worth the time.

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cwilson
I actually offered to do exactly this (I'm a Sponsorfied founder), and
suggested doing it much like YC office hours (small 10 - 15 minute slots) but
via Skype or Google Hangouts. Throughout the day I could easily do a few of
these, and I'm always interested in new feedback and practice pitching.

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alexro
Is this the new era for start-ups with investments becoming a real commodity?
Interesting times indeed.

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johnrob
Removing accredation requirements via a holding company - after a decade of
bar talk in the valley, glad to see someone finally acted on this one.

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dave1619
Actually I believe you still need to be an accredited investor to participate.

It seems like the benefit is 1) you can easily invest smaller amounts than
typically required of seed investments, 2) you save time by choosing from the
companies FundersClub curates, and maybe 3) they handle paperwork(?).

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codenerdz
Ill just have to work my way to $200k minimum salary necessary to be able to
invest :)

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johnrob
You actually don't. One huge aspect of this is that they remove that
requirement via proxying.

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aaronblohowiak
FTA: (You still need to be an accredited investor, though).

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adebelov
Great post Josh. Keep killing it Alex, Boris and FundersClub team :)

