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Andrewlsteele
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Dave - you've done yourself a huge disservice with your misguided, arrogant and completely unempathetic rant. I'd expect that from a career VC who has never known anything but the Ivory Tower on Sand Hill Road, but as a former working stiff and (kind of) entrepreneur yourself, I'm frankly shocked. Heres the 411 from the trenches Dave - whether it's true or not, Arrington's post scares the shit out of entrepreneurs like me. We all dutifully line up, hoping for the honor to be bent over, lubed up ( if we're lucky) and given the 'business' for the priviledge of giving away a huge chunk of our company in exchange for a bit of your walking around money to help pay the bills and hopefully build something meaningful. I suppose none of us should be entirely shocked that investors may actually be doing everything to stack the deck in their favor - it is called capitalism after all - but the thought of this sort of collusion, which I interpret as nothing less than extortion from people who already have little more to give (if we did, why would we need your money in the first place) is truly disheartening. It's easy to be flippant when you have enough money to throw around, but when I lay awake most nights worrying about paying the mortgage, taxes, car payments and my kids tuition on a startup salary, the LAST thing I want to have to worry about is that I'm also getting anally devastated (well, more than is customary...) by investors I thought were on my side. I hope you're right. I hope Arrington is completely off base. But c'mon Dave, act like a grown up. Respond to this very serious accusation like a professional, not a 14 year old girl who just overheard someone say her ass was fat. Frankly, your response has done absolutely nothing to reassure me (and probably a lot of other entrepreneurs like me) that you're on the right side of this. You're not an investor in my company, and frankly I'm not so sure that's not a good thing. You (or someone else in a position to do so) needs to set the record straight. Convince us entrepreneurs that Arrington is full of it. But Dave, you've done exactly the opposite here - you've convinced me that you're infinitely more concerned about your rep as a valley celeb, and if I may...'playa'... Than someone who is legitimately and sincerely interested in helping carry on the great startup legacy in the Valley. Makes me more sad than anything else. Maybe I should just go get a 'real' job. Nah...
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Sep 24, 2010