Zao and I got together to talk about investing – watch on:
Loved this TWI episode! Thanks to both you and Zao for the great content. Especially the info about “how can an entrepreneur with no contacts acquire funding?” Although you mentioned AngelList, the caveat with them is that they also rely heavily on “Social Proof”. So someone with NO big name contacts in the industry is still at a disadvantage. (it’s kind of a “catch 22″ since they want u to already have an investor or supporter in order to intro u to others)
Question, I understand why you chose L.A. over Silicon Valley area, but why did you choose it over NY? (From a purely business standpoint)
I think you’re wrong about AngelList relying “heavily” on “Social Proof”. It certainly is part of the equation, but frankly, if you can’t get at least one solid investor to commit to you then you’re not going to be an effective founder. All of us start life with no contacts (well other than our family This is a world of equal opportunity and I don’t see the disadvantage you’re referring to.
As for LA (AKA “Silicon Beach”) we’re here because LA’s tech community rocks (engineers, funding, startup ecosystem, non-engineering talent)…that and life down here is simply beautiful – NYC and SF can’t compare. But, I do love NYC & SF as well and we will be expanding to both cities soon enough. But for now we’re focused on LA because our initial target market is best represented here in the greater LA area.
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