Craigslist takes on Sand Hill Road
I like Venture Capital. I really do. And even in the current bubble, Vijay, the World’s Most Desperate Venture Capitalist is a little exaggerated.
But what am I supposed to do when I put a job posting on Craigslist and get the following response?
“My name is XXXX XXXX, and I am a Principal with XXXXX, a venture capital firm based in XXXXXXXX. I learned about your startup on Craig’s List. My firm manages just north of XXX million in active funds. We invest in early-stage software and Internet companies, and I would be interested in learning more about your project.”
You can’t make this stuff up.
Actually, I have to hand it to the guy. One of the three things you need to succeed in Venture Capital is proprietary deal-flow (the other two are access to capital and good judgement). By hitting Craigslist early, these guys are doing legwork that others eschew – they’re hunting for the next Skype actively rather then putting their feet up on Mahogany desks and waiting for the deals to come pouring in. Welcome!