

Boris Mann's response to BootupLabs portfolio reduction outcry - apphacker
http://bmannconsulting.com/2843/personal/keep-calm-and-carry

======
cperciva
Quoth Boris Mann in the linked blog post: " _I read a number of comments /
response to me directly that suggested that we should have been more
apologetic. We leaned towards the factual. I can say that I know I broke a
personal commitment and that I feel like shit about it and have already said
my 'sorrys' in person._ "

Quoth Danny Robinson, in a comment on Jamie Martin's blog: " _After everything
that we did for you and Steven, I'm shocked at how you have twisted the truth
for PR reasons. [...] in the end, I made sure that you got the better end
(sic) the deal._ "

I can't think of two more opposite approaches to communicating about this
matter... and I definitely know which one I prefer.

~~~
philk
Humility is the best PR strategy in this kind of situation.

------
pkaler
Here is another post by Boris: <http://bmann.ca/what-i-did-tonight>

Disclaimer: I've known Boris Mann for a while. He is a stand up guy. It's a
crappy situation on all sides.

Missed capital calls happen during downturns. It's shitty for the investor
that can't make the call. It's shitty for the VC that is running the fund.
It's shitty for startup founders.

On a personal note, my company had a bunch of clients miss invoices in Q4
2009. Cash flow was horrible for that quarter.

Q4 2009 was crappy globally. It was extra crappy in Vancouver. A whole bunch
of investors had cut deep in 2009 and the deepest cuts had been scheduled for
Q4.

Anyone that had money had allocated it for February 2010. The Olympics were in
town and everyone was doing their big push for that month.

I don't personally know Jamie of Status.ly but I do know others that were also
let go and I do wish them the best.

~~~
edw519
Possible repsonses to "Q4 2009 was crappy globally":

Standard: It was the economy's fault.

Better: Times are tough so we'll have to work that much harder.

Best: A down economy is our greatest opportunity to put some distance between
us and our struggling competitors.

------
ErrantX
_It all started with Jamie of Status.ly's post. I'm disappointed in lots of
the original wording_

Has Jamie's original post been reworded? I've only come to it this morning
(GMT) but it reads perfectly fine to me. Disappointed sure, a little worried
about the future. I dont read it as blaming Bootuplab or having any anger
directed at them...

(indeed it reads pretty factually to me; so I am assuming it has been
reworded)

------
shadowsun7
I kinda wish Boris did the initial reply, as opposed to Danny Robinson and his
"why art thou complaining?" comment. This sounds a lot more rational (though
probably not as apologetic as I might've liked) than before.

------
rdl
Are there any other incubators in Vancouver, ideally associated fairly
directly with real (i.e. Silicon Valley, or at least Seattle) VCs?

If someone wanted to do just the minimum legal/financial/admin overhead for
startups (say, $500/mo tops), and either provide them with YC-levels of
funding, or provide housing/office space for 4mo ($1-3k/mo/person, tops), it
seems like a win. Investing $20k in each company for 5-15 companies would be a
good investment in dealflow for a Vancouver or global focused VC.

I think a Canadian funding entity investing directly could get around the
crazy reporting requirements.

Even if you were only 20% as good as YC, open immigration laws of Canada, and
the Vancouver environment would probably be enough.

Alternatively, a Vancouver franchise of Seedcamp or Founder Institute.

~~~
cperciva
_Are there any other incubators in Vancouver, ideally associated fairly
directly with real (i.e. Silicon Valley, or at least Seattle) VCs?_

Sadly no. If YC or TechStars set up in Vancouver I'd apply immediately; but
Bootup Labs is the only show in town.

------
josephd
When reputations are at stake and someone got disappointed, it gets hard
managing a PR crisis like this. But all Bootuplabs needs to do is stay
focused, reach out to good developers and do its best to create valuable
companies. People will pay for Jamie's experience if Bootuplabs creates
winning startups that sell.

------
dpapathanasiou
One lesson to be learned here is that founders need to do their own due
diligence on the firms from which they accept investment.

------
earl
I must say, just like his scummy partner Danny and his "we're disappointed in
your, well, factual account of us dicking you" nonsense, I do really like
Boris' little legal threats: "I read another round of comments that said that
we should be commenting in public at all. I kind of know how to use these
tools, and engaging where the discussion is taking place seems to be the right
thing to do. _Our instinctive response is not to call in the lawyers_
[emphasis mine]… because, you know, we're actually entrepreneurs / startup
guys ourselves." BootupLabs definitely brings the class.

If he and his partner had just been up front and said, you know, one of our
investors failed to show up with cash as promised and the whole situation is a
nightmare that we feel awful about, it would have put a very different spin on
events. Along with, say, giving the startups they left hanging in the wind
some support to get home and restart / transition their lives to the next
thing. Instead, giving them a couple days to find a job in Canada? Fucking
_awesome_. Entrepreneurs would do well to note how these people treat folks;
I've never heard stories of YC acting like this.

~~~
cperciva
_I do really like Boris' little legal threats_

I'm sure you're misinterpreting what Boris wrote. I read that line as saying
that their instinctive response is to engage in a dialogue with their critics
(even if IMHO their initial response was very poor) rather than running to a
lawyer who would almost certainly advise them to say nothing.

