How to handle conflicts
If a startup wants to pitch you that might be a conflict with your portfolio, tell them ahead of time.
If a startup wants to pitch you that might be a conflict with your portfolio, tell them ahead of time.
If you're on a call with a founder and only then realise there might be a conflict, apologise, tell them straight away and ask them if they want to continue the call.
In each case make it clear that you won't share confidential information.
Also make clear that if you wanted to invest you would have to check with your portfolio company first.
This isn't rocket science.
Radical recruitment
I wrote an article for Business Brief magazine entitled Radical Recruitment.
I wrote an article for Business Brief magazine entitled Radical Recruitment.
It takes Reid Hoffman's tour of duty concept to its natural conclusion.
You can view it below or right here.
Evening update - 12 November 23
Today I…
#TodayI
Had Pilates with Joey Freeman of Pilates Core Club.
Shared unbundled vc's latest monthly newsletter - Why startup funding pressures will ease before VC ones - link in the comments.
Spent the morning helping a local school with mock Oxbridge interviews.
Had a call with Bram van Esch of Fundrbird.
Spoke with Jonathan Canizales of Squared who is helping me set up a basic CRM.
Caught up with Stuart Lewis of Rest Less UK.
Had a call with Peter Monteza of MyARC.
#LaterI
Am going to improv rehearsal ahead of our showcase two weeks today.
Why startup funding pressures will ease before VC ones
This is what I answer in my monthly unbundled vc newsletter. Read it in the link in the comments.
Why startup funding pressures will ease before VC ones.
This is what I answer in my monthly unbundled vc newsletter. Read it in the link in the comments.
No sympathy expected.
Evening update - 10 November 23
Today I…
#TodayI
Shared that unbundled vc is investing in Tash Grossman of Slip and why.
Caught up with Sara Stephens of Rest Less UK.
Chatted with Chris Rhodes of The Tech Dept.
Spoke with Dr. Rajen Nagar BDS MFDS RCS and Grant Nolan about MyOpNotes - Digital Operation Notes.
Had a call with Catalina Schveninger of C-YourCulture.
#LaterI
Am taking the kids to see The Marvels at the cinema.
Investment commitment in Tash Grossman at Slip
I have committed to invest in Tash Grossman at Slip's Seed round. Here's why.
I have committed to invest in Tash Grossman at Slip's Seed round. Here's why.
unbundled vc looks for:
1. Very strong founders
2. building differentiated products that matter
3. that can scale fast
4. with huge potential markets,
5. a plausible route to market
6. and great unit economics
1. Tash is a very strong founder. Very personable, great at sales and gives straightforward answers that always make sense. The combination is not so common. Often when people are good at sales it can cover flaws in the underlying answers. That either isn't the case here or she's even better at sales than I think.
2. Slip offers digital receipts. That does not sound exciting. Many people have tried this and failed. What they couldn’t do was super fast integration with high conversion rates for retailers. And there is a “why now” - sustainability-driven legislation is incoming because paper receipts are not recyclable. The offer has always been to drive loyalty and data-driven insights. Nobody has ever delivered on this until now.
JD Sports just did a three-week trial before rolling out to 370 stores UK-wide. They did this because it mattered and it worked. The rollout is already exceeding expectations.
3. This is a digital proposition. Integration is fast. Once integrated, it’s easy to roll out more broadly. It can be scaled very quickly as is evidenced by JD.
4. Because the integration is with POS providers, there is little implementation difference anywhere in the world. There are a lot of large retailers worldwide. The market feels like a winner-takes-all play. There will be no need for a second provider. You can get lock-in by providing additional data insights. Once you have that, you have a moat. There is easily room for a venture scale outcome.
5. Tash has an insanely good network along with advisers with their own great networks. Tash being who she is, her network will grow fast. The first enterprise client is on board. Once other retailers see the positive impact and easy implementation, they will come to her.
6. This is a purely digital proposition. The gross margins are high and the unit economics are great.
This is why I am investing. Let's see how it plays out.
Evening update - 9 November 23
Today I…
#TodayI
Shared I had an upcoming announcement and that you should listen to Alex Grant of Magrathea's podcast with Michael Liebreich while you were waiting.
Shared that I have made my final investment commitment of the year and everything resets Jan 1.
Contacted any founders who were in-flight with me before that so they heard directly from me first.
Updated my AMA chatbot to test Chatbase.
Chatted with Henry O'Brien of Mural Capital.
Had my Important Not Urgent day.
#LaterI
Am doing my first ever Clubhouse with Anton Kooll of StartUp to ScaleUP Club.
Am going to standup practice.
Final investment commitment of the year
I just made an investment commitment. It will almost certainly be my last one of the year.
I just made an investment commitment. It will almost certainly be my last one of the year.
Everything resets Jan 1.
I will let you know about the investment tomorrow.
I am in the process of updating my website to make this all clear. I don't want to waste founders' time.
Announcement coming
Reasonable size announcement coming at 11.30ish but not, you know, Fred Destin level.
Reasonable size announcement coming at 11.30ish but not, you know, Fred Destin level.
In the meantime, and unrelated, you really should listen to Alex Grant of Magrathea on Michael Liebreich's podcast. Listen here.
Evening update - 8 November 23
Today I…
#TodayI
Had Pilates with Joey Freeman.
Shared I will be a judge for SeedLegals Startup Awards.
Chatted with Karl Lokko of Black Seed.
Spoke with Jetan Chowk of JD Sports Fashion.
Was pitched by Melissa McBride 🚀 of Sophia Technologies Limited.
Was pitched by a founder who wishes to remain anonymous.
Had a call with Matt Cooper of Exceptional Ventures.
Judge Marc
Delighted to say I will be a judge for the upcoming SeedLegals Awards.
Delighted to say I will be a judge for the upcoming SeedLegals Awards.
There are many categories including Soonicorn, Eco Innovator, Customer Champion and Game Changer.
You can nominate yourself or someone else.
The closing date is this coming Monday 13th November so get a move on!
#founders #startups #venturecapital #buildinginpublic #investinginpublic
Pitch and newsletter links in my bio and on my website.
Evening update - 7 November 23
Today I…
#TodayI
Shared that VC investing is not for everyone.
Chatted with Tash Grossman of Slip.
Had a call with Martin Mason of TalentMapper.
Spoke with Andrew Weisz.
Added an AI Ask Me Anything Chatbot to my site.
Had a demo of SeedLegals new Syndicate functionality from Jonny Seaman and Vasu Sarin.
#LaterI
Am going for a curry.
Risk vs reward
Venture capital investing is for people who are comfortable that, if they get any money back, it will be in five to ten years.
Venture capital investing is for people who are comfortable that, if they get any money back, it will be in five to ten years.
The rewards can be exceptional.
But if you're not comfortable with that risk and liquidity profile, you shouldn't go anywhere near it.
Evening update - 6 November 23
Today I…
#TodayI
Took the kids to school.
Had a mentoring call with Ofentse Motaung CA(SA).
Was pitched by Erika Brodnock, MBE of Kinhub.
Asked for help with an AI AMA chatbot. Thank you for all your responses.
Chatted with Ramzi Rafih of No Label Ventures.
Was pitched by Daniel Bower of Jetty.
Spoke with Odilinma Obiajulu.
Had a call with Dan Elton of ASOS.com.
Was pitched by Paul Clifford of STRATxAI.
Collected my son from table tennis.
#NowI
Have more backlog to get through.
Help with AI AMA
I need your help building an AI AMA bot.
I need your help building an AI AMA bot.
I've now written over 600 pages of content which is all accessible on my website or in my newsletter. I know I've answered most questions and you should be able to imply the answers to the rest but I can't expect anyone to read all of it.
Can anyone suggest the best solutions and companies for this? Quality, ease of use and cost are all important to me.
Thank you!
Evening update - 3 November 23
Today I…
#TodayI
Shared the link to my webinar with Anthony Rose of SeedLegals.
Had breakfast with a friend.
Had a call with Max Brenssell of Spoke.ai.
Had coffee with Jude Barton who had some great questions for me.
Caught up with Euan Cameron of Willo®.
Had a no-show.
Was pitched by Nadine Pfeifer of HopStair®.
Was pitched by Neil Smith of Mettle.
#LaterI
Really am going to watch a movie with the kids.
Also available for weddings and bar mitzvahs
For those of you who missed my webinar with Anthony Rose of SeedLegals, here’s the link.
For those of you who missed my webinar with Anthony Rose of SeedLegals, here’s the link.
I recorded a podcast earlier in the week with Jack Richardson for his ProRata podcast.
Anything where my time can be magnified into hopefully helping many I am always open to.
And of course, I'm not objecting to the exposure it gives me 😉 .
Evening update - 2 November 23
Today I…
#TodayI
Survived the overnight hurricane-strength winds.
Shared about Focal Deploy, the demo day for LPs to find GPs.
Attended an LP quarterly update.
Chatted with Jeremy Luzinda of Haatch.
Was pitched by a founder who wishes to remain anonymous.
Finished my article for next month's Business Brief.
Pulled together some info on what unbundled vc has done to date.
Spoke with Abbie Main of SeedLegals about the SeedLegal Startup Awards.
Failed to have my Important Not Urgent Day.
#LaterI
May watch a movie with the kids.
Focal Deploy
Focal is launching Focal Deploy, a demo day for Limited Partners to find their next fund investment.
Focal is launching Focal Deploy, a demo day for Limited Partners to find their next fund investment.
Focal is already the world's biggest demo day without the accelerator for founders.
Its aim now is to very quickly become the de facto place for GPs to successfully raise their next fund.
Much like the startup demo day, LPs will vote on which GPs will present and the best will have their demo day in front of LPs.
If you are an LP, sign up here and let them know I sent you, please!
Thank you, Jack, Issie, Hector & Taos, another great initiative.
Evening update - 1 November 23
Today I…
#TodayI
Shared about my webinar with Anthony Rose of SeedLegals.
Had a site meeting for our house with DLM Architects Ltd and Infinity Group.
Was pitched by Tash Grossman of Slip.
Did my webinar with Anthony Rose of SeedLegals. Thank you again for inviting me.
Spoke with Chloe Dagnell of Isomer Capital.
#NowI
Am battening down the hatches ahead of hurricane-strength winds overnight here in Guernsey.
