I think this goes more to speak on how rare good ideas are

By | May 15, 2012
A breakthrough idea and team won't have this sort of problem – but I've seen quite a few ideas that leave me scratching my head on how they even managed to get funding in the first place.

Reshared post from +Robert Scoble

VCs, how do you say "no?"

I ask because I just visited the NewME Accelerator (a startup accelerator for minorities and women) and one of the companies was turned down this way:

"Sorry, we ran the numbers and your company will only be worth $400 million in a few years. We're looking for multi-billion-dollar ideas/companies."

Wow. I'm editing the videos I shot now, and should have most up this week.

That got me to think, though, about how to turn down companies. What is the most unique way to say "no?" What's the coolest "no" you've heard?

1. Sorry, your adoption curve isn't steep enough, we're only looking for companies with curves steeper than Pinterest.

2. Your team, while you have three previous startups amongst you, doesn't have enough experience. We're only funding teams that have 10 previous startups amongst them.

3. Your team, although headquartered in Oakland, isn't close enough to Silicon Valley. Our VC firm will not cross any bridges in SF Bay.

4. Ron Conway and Michael Arrington have funded your company? Get Kleiner or Sequoia to join and we have a deal.

5. It really doesn't matter if you are best friends with Mark Zuckerberg until he gives your company better Open Graph exposure than he gave Socialcam stop bothering us.

6. You were in Y Combinator? Cool to be you, but we are only funding companies that have been in multiple accelerators.

7. Stop bragging that Robert Scoble retweeted you. Everyone knows his Klout score is dropping like a rock! Get Justin Beiber to retweet you and we might return your emails.

8. Listen, we don't fund people who just ask for a $400 million valuation anymore. Hell, we don't want to be seen as idiotic as the folks who funded Quora! Come back when you are worth two billion or more.

9. This idea is cute, but it's like Google+. Only Tim O'Reilly and Scoble think it's awesome.

10. Sorry, getting an intro from Leo Laporte and Gina Trapani isn't good enough to get us to notice. Come back when Dave McClure invites you on Geeks on a Plane!

Anyway, entrepreneurs, how have you heard "no?"

2 thoughts on “I think this goes more to speak on how rare good ideas are

  1. Cole Rayne

    Of course this was a great idea…because the company I met with soonsored an event with my idea 5 years later. Damn those statutes of limitation. Sure it was a success, but never gained enough steam to be appreciated. The company had found the ticket to success lied in liscensing. And no, I'm not disclosing the details. But I still have 2 things to fall back on. God Given Talent, and a future in Cyber Security. Break a leg!


Leave a Reply

Your email address will not be published.