Goooood Morning Silicon Alley!
This is a guest post from Gary Sharma (aka “The Guy with the Red Tie”), founder and CEO of GarysGuide and proud owner of a whole bunch of black suits, white shirts and, at last count, over 40 red ties. You can reach him at gary [at] garysguide.com.
Tomorrow is Ingenuity, with Robert Steel (Deputy Mayor), Barry Silbert (CEO, SecondMarket), Chris Fralic (First Round), Dave Gilboa (Founder, Warby Parker), Katia Beauchamp (Founder, Birchbox), Eric Hippeau (Lerer).
Oct. 22 is Silicon Alley’s first Reverse Demo Day, organized by Orrick, where VCs pitch you. With Nikhil Kalghatgi (SoftBank), Ellie Wheeler (Greycroft), John Frankel (ff VC) and others.
About 100 investors, founders and startup folk–including the guy siting next to Betabeat whose nametag read “SocialNetwork.com”–gathered last night in Microsoft’s sixth floor office, just a few doors down from Radio City Music Hall, for the ceremonious-sounding Ultra Light Startups Feedback Forum and Pitch Showdown. The room was like most that host these things: projector, rows of plastic chairs, podiums. Microsoft does not try to be edgy with the decor.
But there was pizza, there was pop, and there was networking. “I hear a lot of networking going on in the back. Now is the time to stop networking,” master of ceremonies David Carlos admonished the murmuring crowd when it was time to resume after a break. “There are like, 50 people back there networking.”
Startups which are Ultra Light have a few things in common. They can, and must, explain themselves in two minutes. They should be maniacs for bootstrapping. And they must be ready to take flak from an esteemed panel of judges, which in this case included First Round Capital’s Phineas Barnes, who was voted best panelist for his thoughtful answers, instant grasp of concepts, and motivational feedback about creating magic and secret sauce.
Ten entrepreneurs pitched their websites last night at a panel organized by Ultra Light Startups, a community dedicated, albeit loosely, to the idea of funding a startup using the founders’ savings and revenues from the service, without taking any investment capital.
With all the cash flowing to tech startups, this idea isn’t really in Read More