WEBVTT
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This is Rich Maloy with SpringTime Ventures, bringing you the VC Minute, quick advice to help startup founders fundraise better.
00:00:09.352 --> 00:00:12.413
Raising a seed round is like throwing a pool party.
00:00:13.012 --> 00:00:15.862
No single investor has enough capital to take the whole round.
00:00:16.222 --> 00:00:25.943
So that means you're running around trying to get six to 12 investors ranging from angels to angel groups, to SPVs, to a whole lot of venture funds to commit to you.
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This is the pool party.
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Worse, it's like a high school pool party where the peer pressure is so thick, you could cut it with a knife.
00:00:36.472 --> 00:00:38.813
No one wants to be the first one in the pool.
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So everyone's standing around wondering," is anyone else going to get in the pool?
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Are you going to get in the pool?
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I'll get in the pool.
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If you get in the pool." This is the opposite of FOMO.
00:00:49.192 --> 00:00:52.732
This is FOLS, Fear Of Looking Stupid.
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What if I jump in and no one else does?
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Now I look stupid.
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Your job as a founder on the fundraising trail is to throw the coolest pool party.
00:01:04.778 --> 00:01:06.819
First, people need to know there's a party.
00:01:07.322 --> 00:01:10.739
Second, they need to know the cool kids are coming to the party.
00:01:11.239 --> 00:01:14.659
Third, they need to know that other people are getting in the pool.
00:01:15.159 --> 00:01:18.399
Finally, ultimately you need to push them in the pool.
00:01:19.539 --> 00:01:27.278
Over the next few episodes, we'll go through the fun part of this, getting people to show up edging people slightly and slightly closer to the edge of the pool.
00:01:27.549 --> 00:01:29.918
And ultimately, pushing people in.
00:00:01.000 --> 00:00:08.343
This is Rich Maloy with SpringTime Ventures, bringing you the VC Minute, quick advice to help startup founders fundraise better.
00:00:09.352 --> 00:00:12.413
Raising a seed round is like throwing a pool party.
00:00:13.012 --> 00:00:15.862
No single investor has enough capital to take the whole round.
00:00:16.222 --> 00:00:25.943
So that means you're running around trying to get six to 12 investors ranging from angels to angel groups, to SPVs, to a whole lot of venture funds to commit to you.
00:00:26.603 --> 00:00:27.983
This is the pool party.
00:00:28.612 --> 00:00:34.523
Worse, it's like a high school pool party where the peer pressure is so thick, you could cut it with a knife.
00:00:36.472 --> 00:00:38.813
No one wants to be the first one in the pool.
00:00:39.082 --> 00:00:42.862
So everyone's standing around wondering," is anyone else going to get in the pool?
00:00:43.283 --> 00:00:44.273
Are you going to get in the pool?
00:00:44.362 --> 00:00:45.112
I'll get in the pool.
00:00:45.112 --> 00:00:48.832
If you get in the pool." This is the opposite of FOMO.
00:00:49.192 --> 00:00:52.732
This is FOLS, Fear Of Looking Stupid.
00:00:53.243 --> 00:00:55.493
What if I jump in and no one else does?
00:00:55.792 --> 00:00:56.930
Now I look stupid.
00:00:57.932 --> 00:01:03.728
Your job as a founder on the fundraising trail is to throw the coolest pool party.
00:01:04.778 --> 00:01:06.819
First, people need to know there's a party.
00:01:07.322 --> 00:01:10.739
Second, they need to know the cool kids are coming to the party.
00:01:11.239 --> 00:01:14.659
Third, they need to know that other people are getting in the pool.
00:01:15.159 --> 00:01:18.399
Finally, ultimately you need to push them in the pool.
00:01:19.539 --> 00:01:27.278
Over the next few episodes, we'll go through the fun part of this, getting people to show up edging people slightly and slightly closer to the edge of the pool.
00:01:27.549 --> 00:01:29.918
And ultimately, pushing people in.
