The document discusses strategies for getting funded as a startup in Silicon Valley. It notes that the amount of money needed to reach product-market fit has decreased dramatically in recent years. It recommends getting a job at a small tech company in Silicon Valley after graduation to build connections. The document outlines a 5 step plan: get noticed on social media and blogs, live cheaply in Silicon Valley, iterate ideas fearlessly until getting traction, and get an angel investor to believe in your vision. It acknowledges that successfully getting funding and an exit is challenging, with only 1 in 10,000 ideas making it that far.

1. Getting Funded in
Silicon Valley
Jonas Lamis
@jonaslamis
Jonas.lamis@sens.ai

2. Disclosure
• This is mainly focused on Enterprise and
Consumer software startups
• I’ve been a part of 5 founding teams that have
raised capital. (1998 – Present)
– One was acquired for $$
– One flamed out spectacularly
– 2 are growing
– My new company is just getting started
• Luck is an overwhelming factor in startup
success

3. Times have changed
• 1997 – 2004: $5M to launch at startup to get
to Product Market Fit.
• 2005 – 2014: Dramatically decreasing towards
$0
• Competition for the entrepreneur is wildly
different. (Damn you hackathons)

4. Glad I'm an operator and not an investor
• $500k can get a small team to profitability / a
significant exit
• Acqui-hires benefit failing founding teams but not
investors
• Angels have invaded early stage VC
• Incubators cultivate too many lemmings and drive up
valuations
• Companies / foreign funds / LPs have invaded late
stage VC
• Picking a winner is a total crap shoot
– 1 Unicorn returns the fund
– “Its all about the team”
– Spray and Pray

5. $500B in deployable capital on this map
Its mostly about who knows you and your capabilities

6. There has never been a better time
to start something in the history of
the world than right now.
- Just about everybody in SV

7. 5 Step Plan
DO THIS NOW!
• #0 – Get familiar with the thought leaders and start trolling them on
twitter and in comments
• #0b – Start contributing to Github / blogging regularly about something
cutting edge
UPON GRADUATION
• #1 – Find your way to Silicon Valley after graduation. Do not consider jobs
elsewhere.
• #2 – Get an job at any tech company that has less than 50 people and has
raised VC. Best way to trigger #5
• #3 – Find a way to live cheaply (Avoid expensive habits)
• #4 – Iterate on ideas fearlessly. Traction is the only thing that matters.
(Users or $$) Spend all your time on pushing your ideas forward.
• #5 –Get one (1) serious angel to believe in your vision

8. Its A Numbers Game
Has an idea - Infinite
Gets to a MVP - on Seed $$ - 10,000
Raises a Series A – 1,000
Raises beyond a Series A - 200
Successful Exit - 50
Unicorn Status – 1 to 5

9. Lets look at some resources

10. @pmarca

11. Discussion Forums

12. Helpful business models
Mattermark
Keep and eye on Danielle Morrill

13. Helpful business models
Crunchbase

14. The Rally Story

15. Angel List

16. Incubators
(Kickstarter Yo?)

17. No, Snoop Dogg is not going to
investor in your startup.