Venture Hacks

In The Psychology of Entrepreneurial Misjudgment, part 1: Biases 1-6, Marc Andreessen kindly interprets an essay from Charlie Munger’s book, Poor Charlie’s Almanack:
“Mr. Munger’s magnum opus speech, included in the book, is The Psychology of Human Misjudgment — an exposition of 25 key forms of human behavior that lead to misjudgment and error, derived from [...]

[Read more →]

Here are answers to some frequently asked questions about advisors. If you have additional questions, email us at ask@venturehacks.com.
Table of Contents
General (answers follow)

What do advisors do?
Should I put together a board of advisors?
How do I get good advice?
How do I apply advice?
How do I find advisors?
How can I tell if an advisor is any good?

Compensation [...]

[Read more →]

“Those kind of ‘sit on the sideline’ investors are worthless to you if you want to get a financing done… if you are raising a financing of any kind, spend all of your time looking for a lead investor.”
— Fred Wilson, Union Square Ventures
Summary: Financings happen when you find a lead investor, negotiate a term [...]

[Read more →]

“Summarize the company’s business on the back of a business card.”
— Sequoia Capital
Summary: An introduction captures an investor’s attention, but a great elevator pitch gets a meeting. The major components of the pitch are traction, product, and team.
If you’re building an interesting company, people will offer to introduce you to investors—it makes them looks good. [...]

[Read more →]

How many similarities can you find between hacking fund-raising and hacking a car purchase? Watch this video:
The best answer gets a coveted Venture Hacks mug.
(Via Lifehacker.)

[Read more →]

“Things are worth what people pay for them.”
– Head of M&A at a Fortune 500 Company
Summary: You need strong alternatives to hack a term sheet. Create alternatives with focus: pitch and negotiate with all your prospective investors at once. Focus compounds scarcity and social proof, which closes deals. Focus also yields a quick yes or [...]

[Read more →]