Viewing profile — naval

Sorry spike, I wasn't trying to be rude. Never my intention. You likely caught me unawares and my animal brain responded before my human one could catch up. Be well.

There are no double fees on this fund. The 30% is used to pay the angels their carry, out of that 30%. Whatever's left goes to the GPs. Warren's criticism does not apply here. The …

No management fees, angels invest their own money alongside, no 10-year lockup, enter / leave with one click, track everything online, and have 40 angels invest $25M instead of 2 V…

It's about 1/3rd of what technical recruiters charge. And again, it's only on successful hires. And if you can't afford it, you can give equity. And it's an honor system. And it's …

Not random, we've just been doing it for new companies joining the platform.

The headline is sensationalist but incorrect. There is no cost for posting - only if you land a successful hire, similar to how some others in the space work.

Yes, WSGR will do the closing for free, for any startup that they're willing to take on as a client (i.e., credible). We'll be announcing other law firms who will do the same short…

In most Series Seed financings, the Founders retain Board Control and can't be pushed out by just the Investors. If they're pushed out by the other founders and by the investors to…

I'm actually a former coder, albeit not very good.

Even complex problems can be chunked down into smaller things. That's pretty basic.

Business Development.

The problem is that there is an incentive to always pad estimates. By forcing a one-week schedule, you counterbalance that tendency, and make it possible to measure yourself more a…

We do regular one-day long refactoring sessions where everyone refactors. But yeah, our codebase is not a thing of beauty. We're more focused on figuring out what users actually wa…

In my experience, tasks that take longer than one week sometimes take two weeks. But if they don't make it within two, they basically never ship. It's like you can go out and have …

That's the idea. And it doesn't have to be angels / VCs only. It can also be the community of entrepreneurs. Don't worry :-)

All social proof means in this context is that there is a community of gatekeepers and scouts rather than one or two gatekeepers or scouts.

So, our fault for not having caught it the first time. But the reason is more innocuous than you might think. On a busy day, we can get 50-100 startups showing up. That's a lot of …

Actually, we read most of the pitches that come into AngelList (there's an up-front algorithmic filter for junk). There are other investors who browse the incoming firehose as well…

I don't think it'd work. Great founders are usually passionate about their business and have been thinking about the problem for a long time. It's unlikely that an "idea from the o…

Why don't you email me instead Tremt, and I will investigate. No point in launching a public witchhunt :-) I'm at naval at angel dot co.

You're right. There will always be an offline component, and a big one. But lots of stuff, including the introductions, the social proof, the transaction, the matching, should move…

This is a very nice and pithy observation - you're basically arguing that it's a classic power-law distribution: a few huge winners, and lots and lots of small players - who tradit…

They can work but generally they tend to be service companies for a long time before they become product companies. However, they're almost never done by part-timers. Even 37S and …

I originally started my angel fund as an incubator (The Hit Forge). I quickly moved away because of Adverse Selection - the best entrepreneurs are insanely committed to themselves …