The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 24 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Lacritz: Founders should only escalate problems to investors if they need help
“If we had a bug in, in anchor it's not the first thing I do is not call my investors and tell them I had a bug, I fix it. I understand what's you know, what's, what's happening. And if it's interesting or important, and I think it may have long-term effects, t…”
Rom Lacritz: Nobody has successfully figured out location-based social data
“Nobody really uses check-ins and Foursquare and events on Facebook. It's not really a thing. Nobody really connected between the real world and the social world in the location-based data cause theoretically you have so much data who goes where and what type o…”
Lakritz Raised A $15M Pre-Seed Round Without Writing Any Code
“So, you know, you look at us at anchor, we raised fifteen million dollars in the pre-seed with customer discovery.”
Lakritz: Post-COVID Seed Rounds Have Ballooned Up to $50 Million
“Where you raise the seed amount, where, what you're talking about around half and five million dollars before COVID. And today it can be somewhere between five and 50. Even I've seen a seed investment.”
Lacritz plans to fully bootstrap his next company
“In my head though, my next company would be bootstrapped and we'll take it all the way bootstrapped.”
Lacritz: Founders mistakenly believe investor relations is just always presenting good news
“I do see a lot of entrepreneurs that look at that relationship as I need to sell something to the investors. I need to show them always that everything is, is good. And that's, it's, I would say it's actually a small part of it.”
Lacritz: Acquirer Tripled Bid After Founders Rejected First Offer
“What happened is that we actually said no the first time and they came back when pretty much tripled the amount.”
Lakritz: Paying customers demand perfection unlike tolerant design partners
“Once a customer moves to be a paying customer and not a design partner, like he is in the customer discovery. You know, there is less patience. They look for the perfect product, which in the customer discovery stage, the whole setup with your customers and th…”
Lakritz: SaaS Products Under $10K ARR Cannot Sustain Human Sales Teams
“In theory for products between zero to 10,000 dollars in ARR, you have to find a way to funnel everything automatic and the product has to be self-service. If you have a product that you sell for 5010 thousand dollars yearly, you cannot sell it with sales reps…”
Lakritz: The CEO's primary role is building departmental teams as self-sustaining machines
“The way I look at it is that the CEO builds Machines. Ok, so these machines are actually teams. So you get a manager for marketing, for product, for R&D, for back-end, for front-end for operations, for finance, for whatever. And then this person, this manager …”
Lacritz: Entrepreneurship is a cultural norm in Israel fostered by military service
“Everybody knows that in Israel being entrepreneur is you know, is a common denominator, and that's just the way, like, we live in the culture here, and it grows in the army and throughout our life's journey.”
Lacritz: Omnix targets resistant bacteria that kill 50% of infected patients
“I will say that the second runner up is, is Omnix where, where we're, you know, saving lives and actually tackling resistant bacteria that today kills 50% of the people that it touches. It has a hundred percent resistance.”
Lacritz: Anchor has raised $15M in funding to date
“For Anchor, we raised fifteen million dollars up to date.”
Rom Lacritz personally invested roughly $100K cash before Anchor raised venture funding
“So before we raised funds, I probably invested somewhere around a 100,000 dollars. Give or take and then travel and design and building the product and infrastructure and stuff like that. We were three partners. So it's not including, you know, three salaries.…”
Most startups take 6 to 12 months before pitching, Lacritz says
“And if you look at most startups from the idea in, in the regular life, not, not in 20, 21. Invest between I'll say six to 12 months from the moment they have an idea and start working until they find a partner and figure out what they're doing and being able …”
Lacritz: Walked Away from Acquisition Deal After Signing Term Sheet
“With a different company, we also got an offer and we signed the term sheet and we kept going. And at some point we did the economics and we backed down while we were advancing to definitive agreements, we decided not to sell the company. It still exists.”
Lacritz: Failing to sell company shares cost around $3 million
“My most expensive mistake was so privately, so it was not selling shares in, in one of my companies when I could, and I lost somewhere around three million dollars.”
Lacritz turned down co-CEO role at startup now valued around $50M
“Before anchor, I got an a really good offer from a early stage startup to be like co-CEO president. And I turn it down. The company is pre IPO now and the valuation of that is, yeah, it's in the fifty million dollar range.”
Anchor builds employee development plans directly from interview questions
“So the first, so in the interview one of the questions we ask is if you had a coach, what would you want to work with him on and what would you want to improve? And then when, if he starts working at the company, we actually go back to that and said, okay, let…”
Lakritz: Anchor discovered customer revenue leakage was a larger problem than late payments
“With anchor like I alluded to in the beginning, we wanted to solve late payments and all the hassle and the fees of different tools. And we learned from our customers that actually one of their biggest challenges Is called revenue leakage and that they forget …”
Lacritz: First startup shut down with hundreds of thousands in bank
“We got to a point that we had a few hundreds of thousands of dollars in the bank account. And we chose to stop.”
Lakritz: Founded Five Startups Yielding $250M Symantec Buyout and $150M IPO
“Then for the past nine years, I've been opening startups in Israel, had five startups. One acquisition by Symantec for two hundred and fifty million dollars one IPO in the London Stock Exchange for a hundred and fifty million dollars, another startup in the an…”
Lakritz: Anchor Raised $50M to Automate Small Business Billing and Payments
“My latest venture is Anchor, which we raised fifty million dollars and we're building autonomous building and collection platform to help small businesses Literally automate their billing, collection, and payments efforts all around the board.”