The document discusses the author's experience founding an internet sharing startup called Skyrove in South Africa, raising some funding but ultimately failing to raise much more. It then provides advice for entrepreneurs and aspiring venture capitalists, suggesting VCs have relevant startup experience and can answer practical questions from entrepreneurs. A "Venture Capital Aptitude Test" is also included to help assess if someone is qualified to become a VC.
131. - “You know you’re in a bubble when
young people get into VC”
132. - “VC should be your last job, not your
first.”
133. - “When you’re young, you should work
80 hours a week to create a product or
service that changes the world. You
should not sit in board meetings
listening to an entrepreneur explaining
why she missed her numbers while you
read mail on a Blackberry and
intermittently spew forth gems like:
134. - ‘You should partner with MySpace! I
can also introduce you to some of the
losers in our portfolio’
152. - financial models are almost totally
irrelevant because there’s no financial
wizardry involved in making a good
product and selling the heck out of it.
165. - you’ll understand 3 things:
- 1. how hard it is to achieve success
- 2. world doesn’t owe you a thing
- 3. what it’s like to be fired or laid off
166. - worked at a public company
- plus 1 point
- (know the end goal, warts & all)