James Borow, co-founder of Shift, discusses early fundraising challenges and how investor perceptions of Los Angeles startups have shifted.
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“Fast forward to today, I think that's a non-issue with people like, you know, Mark Suster and Upfront Ventures and Snapchat in LA.”
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Insight
TechCrunch funding announcements have almost zero impact on startup success
“It's fun to get the tech crunch article, but in a lot of ways it doesn't really matter. It's like cool to show your friends at home, but it almost has no impact on your business.”
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Insight
Startup CEOs spend 95% of their time on administrative tasks
“When you're running a company, you basically spend about five percent of your time actually focusing on the things that you would deem important, and about 95% of the time working on things like, Fundraising and HR and hiring and all the things that, you know,…”
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Insight
Product-focused startup CEOs must still hire a head of product
“If you're a product-focused CEO, still hire a head of product.”
James BorowSep 18, 2015▶ 25:39FF 013: 'Make Bets And Believe In What You Are Doing' with James Borow @ Shift & Brand Networks
Insight
Founders must maintain full team transparency during hard times
“You definitely tell them you know, transparency is the key. I just, you know, and the reality is, is that, especially for these types of companies, you want people to know, it's like Headed into a storm. You want everyone to know what they're facing so they ca…”
James BorowSep 18, 2015▶ 27:19FF 013: 'Make Bets And Believe In What You Are Doing' with James Borow @ Shift & Brand Networks
AssertionPartly supported
Girls Guide To was the first website to integrate Facebook Connect
“It was it was actually the first Facebook connect website Pretty much ever.”
James BorowSep 18, 2015▶ 7:11FF 013: 'Make Bets And Believe In What You Are Doing' with James Borow @ Shift & Brand Networks
Insight
Trying to learn without advisors wastes years of founder time
“There's absolutely no reason to reinvent the wheel on a lot of this stuff, and, you know, everyone's smart, you know, in terms of their own ability to learn these things, but you're gonna waste a couple years trying to learn it, and so, you know, I would not b…”
James BorowSep 18, 2015▶ 14:34FF 013: 'Make Bets And Believe In What You Are Doing' with James Borow @ Shift & Brand Networks
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