Goodness, the early-stage scene in New York City sure is getting crowded. Pretty soon investors are going to have to start throwing them ‘bows if they want to get past their competitors and reach the most promising founding teams for so much as a hi-how-are-you chat.
The news today, via TechCrunch: Dave McClure’s 500 Startups has just announced the addition of two “amazing geeks” to the team: Shai Goldman here in New York, and Pankaj Jain in India. They’ll be venture partners, focused on making deals in their respective locations.
Adventures in Venture Capital
It’s hard to be heads down when it’s hot out. Exhortations to “just keep shipping” trigger fantasies of sailboats; Friday afternoon happy hours just aren’t as appealing as sangria on a terrace in Spain. Besides–is there any surer sign of a healthy startup sector than tech stars taking lavish vacations? Read More
We’ve got to hand it to 500 Startups founder Dave McClure: dude sure knows how to make a point. GeekWire reported yesterday that at the GROW business conference in Vancouver, Mr. McClure went on an obscenity-laced tirade against VCs, calling them “insufferable, arrogant, fucking assholes.” Whoa, what’s the punishment for investor-on-investor crime?
Caught In The Webb
Marissa Mayer is reportedly getting straight to work Googlifying Yahoo. She officially made the food in the Valley HQ free again, much to the delight of the company’s starving engineers. [AllThingsD]
Speaking of Ms. Mayer, Dave McClure thinks she should focus on transforming Yahoo into a female-oriented company. Unfortunately, he called his blog post on the idea, “Pink is the new Purple.” [500 Hats]
Craigslist is stifling innovation by suing PadMapper. [New York Times]
Companies actually listen to your online reviews. Rejoice, asshole Yelpers! [Wall Street Journal]
Presented without comment: “Mr. Blodget now presides over Business Insider from a makeshift standing desk in the middle of a 50-person newsroom in New York, where he barks questions (“Is it cool?” “Can we clip that video?”) at his reporters.” [WSJ]
Bubbles bubbles bubbles! The talk continues. Last week the anti-bubble camp was in the ascendency. First we had a massive bubble debate on Branch.com (disclosure: I am an investor in Branch), featuring some of the best minds on the internet: Anil Dash, Dave McClure, Paul Kedrosky, Chris Sacca, Michael Arrington, MG Seigler and more. The rough consensus? No bubble.
In wrapping up the Branch debate, Seigler pointed to First Round Capital’s Josh Kopelman, and his hilarious bubble post – from 2007, no less – mocking those who continuously cry bubble, and failing to grasp the transformational power of the internet. A fair point.
Next we had Business Insider Henry Blodget’s presentation State of Startups 2012 presentation, subtitled “No, it’s not a bubble.” Many charts, graphs and points followed laying out why the bubble doesn’t exist.
I must confess, however, I’m in the pro-bubble camp, and while reading the Branch debate, I found myself jumping up and down with counter arguments on why we actually are in a bubble. And, since I’ve taken a two week vacation from this column, I figured I’d come back with a vengeance, and cogently lay out all the arguments and counter arguments.
On The Calendar
The advent of 500 Startups first-ever Demo Day in New York drew a standing room only crowd to General Assembly yesterday for a long night of seed stage pitches and free beer that went an hour past its 9pm bedtime. Betabeat knew we were in the right place when we overheard, “We want to create a better music experience, better than Pandora,” pass for small talk over by the cheese and crackers table. The sight of TechStar’s David Tisch in a backwards baseball cap and khaki shorts (“business shabby” strikes again!) high-fiving Dave McClure was another promising sign.
All of the startups pitching were graduates of Mr. McClure’s 500 Startups, a Mountain View-based accelerator program, and many flew in from the Valley in search of local froth and perhaps a glimpse of the tall buildings. Each co-founder walked out to their own theme music, with soon-to-be baby daddy Jay-Z making a surprisingly popular choice.
This is a guest post from Gary Sharma (aka “The Guy with the Red Tie”), founder of GarysGuide and mentor at ER Accelerator. You can reach him at gary [at] garysguide.org.
So, it was a busy week. Steve Jobs (who loves black turtlenecks almost as much as I love red ties) resigned. Twenty-five thousand New Yorkers checked into Earthquakepocalypse (and lost some respect with Californians in the process). And Hurricane Irene gave us a few gusts of wind, a few drops of water and a lot of @ElBloombito. But nothing is more important than the upcoming SXSW 2012 Panel Picker deadline (September 2). See, where I come from, we look out for our own. So I’ve put together a list of panels representing our local New York startuppers. Go show some love and vote for them and email me if you want your panel to be added to the list.
And now, here’s whats going on in your neck of the woods this week …
Ugh, this day. Maybe it was the Amazon Web Services outage? Or exhaustion from all that Internet Week panel campaigning? “Today suckckckckcks,” one Betabeat staffer said. But the rumor roundup must post. On to it:
500 DISSES: Remember how Dave McClure’s 500 Startups accelerator was going to have a demo day in New York? And it was supposed to be at General Assembly in mid-April? We heard a rumor that Mr. McClure had nxed it so we txted him. Turns out the 500-strong don’t need New York’s money. “To be honest, most of our start-ups already got funding,” Mr. McClure (or whoever does his texting) wrote back. “We decided to hold off coming to NYC until later this year.”
A few Fridays ago, Sam Rosen got a call from a friend, tipping him off that a big-time venture capitalist was going to be in town on the coming Monday.
Rosen had been working full-time doing business development for a West coast startup, running around town trying to clinch deals, all so Read More