Posts from —
September 2012

Observations on India

Written by Paul on September 24th, 2012

I’ve spent a decent amount of time in India over the past few months. Most recently, I spent a little over two weeks of August meeting with founders and investors in Mumbai, Delhi, Bangalore and Goa. A couple of observations in no particular order:

  • Indian founders don’t have clear role models… at least not within the Indian startup ecosystem. That being said, that will likely change over the next 3-5 years as the founders of companies such as SnapDeal, FlipKart, Naukri,

The goal is to make good decisions, not to make money

Written by Paul on September 13th, 2012

Google Ventures’ Joe Kraus recently wrote about unconventional investing rules and this particular portion caught my eye:

This rule came from a three-day poker camp I went to seven years ago. One of the pros got up to the front of the room and asked the question, “What’s the goal of poker?” Of course, someone put their hand up and fell into the trap. “To make money” they said.  Wrong. “The goal is to make good decisions, not to

Fund The Founder Or The Prototype, But Not The Idea

Written by Paul on September 3rd, 2012

When you invest in a company, you’re choosing to back the founder, the idea or the prototype. Or some combination of those. It seems to me that the only reasonable choices are to back the founder or the prototype, but not the idea.

Either back the founding team and be very clear about it (eg, like YC funding founders without ideas) or back a prototype with some sort of small but meaningful traction. Anything between those two extremes is unnecessarily adding …

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