You know that old “What are the two greatest lies” joke? For startups looking looking for early money I’d update it to:
What are the two greatest Angel and VC lies?
“The check is in the mail,” and “We are early stage investors.”
The reality of funding for startups these days is very different then the old days, like last year. “Early Stage” now means after you are generating revenue.
Without social proof, user adoption, and a meaty viral coefficient and the supporting evidence of traction you won’t get a nickel.
Robert Scoble (@Scobleizer) is a tech icon, a notorious gadfly, and a nice guy. After chatting at a Silicon Valley event hosted by Eastwick Communications I asked him to look forward into 2012 and share what he sees as the big startup funding trends. So, what do startups need to bring to the table to get money this year? Here is what Robert said.