Greg Zen, serial entrepreneur and founder of Startup Heroics, reflects on how the lack of early web infrastructure drastically inflated the capital required to launch early software startups.
“And so to get the developers and like the team involved to make that happen was going to be an unheard of kind of series a, like a thirty million dollar plus series a, which for, you know, something where you don't have anything yet back then it was really unheard of. And so that was why I eventually had to kind of walk away from that.”
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More from Greg Zen
Opinion
Zen: Y Combinator does not offer the right education for $10M businesses
“So with like Y Combinator, yeah, their content and their approach is applicable because they're going for billion dollar companies. And so if you are trying to build a. Ten million dollar company podcast or something like that, they don't have the right educat…”
Greg ZenDec 8, 2020▶ 37:45The Founder-Fit Secret VCs Don't Want You to Know
What-if
Zen: Velocity acquisition price would be 10x higher with .com domain
“Had I been velocity.com, I could have easily gotten an extra zero.”
Greg ZenDec 8, 2020▶ 14:41The Founder-Fit Secret VCs Don't Want You to Know
Insight
Zen: Six-figure IT staff require less babysitting than $50k workers
“What I was strategically going for was six figure IT people, partially because I understood that the people that are making 40, 50,000 dollars, you tend to have to babysit them a little bit. They're not going to show up to work on Monday morning sometimes beca…”
Greg ZenDec 8, 2020▶ 20:16The Founder-Fit Secret VCs Don't Want You to Know
AssertionNot checkable as stated
Zen: Dot-Com Crash Contracted Venture Capital but Spurred Grassroots Entrepreneurship
“Venture capital, especially shrank up. But you know, and the markets were really rough there for a little while, but it actually forced more people into entrepreneurship than you might expect.”
Greg ZenDec 8, 2020▶ 28:21The Founder-Fit Secret VCs Don't Want You to Know
AssertionSupported
Zen: Less than 5% of startups receive venture funding annually
“Less than five percent, though, are getting VC money every year. That means that the vast majority of them are chasing after something they're not going to get.”
Greg ZenDec 8, 2020▶ 34:47The Founder-Fit Secret VCs Don't Want You to Know
PredictionNot checkable as stated
Greg Zen predicts AI will become vital for marketing within years
“I think what we were going to see, and especially over the next couple of years, we should probably see is like, AI in marketing and customer development is going to be a really important factor.”
Greg ZenDec 8, 2020▶ 43:30The Founder-Fit Secret VCs Don't Want You to Know
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