Joanne Wilson, a famous angel investor, who also just happens to write a blog called “The Gotham Gal,” recently told us about an investor who wanted his money back.
“The note had come due awhile ago and he was expecting his cash back with the interest. Spoiler Alert…that is never going to happen.
“I have often espoused that importance of legal documents from the get go of building a business. I am not a fan of the SAFE documents or notes in general because they are nothing but a piece of paper with zero work done and lessons to learn. Going through the education of understanding a document and the responsibility of taking cash from others is worth every cent especially from the get-go. Notes and SAFE documents cost very little to produce so I get it for a first round but that is the one and only time to have them.
“Founders take capital with the hope that the money they raise will give them the ability to grow their businesses, their hopes and dreams, their ideas. Investors participate because they too believe that there is an opportunity to support a founder financially that benefits their pocketbook but also benefits their desire to help others build.
“Many early stage angels should not be putting cash out there unless they understand that the chances of every seeing that capital again is low. I have seen investors write to a founder (what this particular investor did) and ask for money back with interest. The business is still alive but struggling so where does he believe the cash is? Then I have seen investors see how the company is growing and they expect a return when it is time to put money back into the company not take it out. I have told founders just to tell those investors to read their documents because they are not getting their cash back now unless some secondary buyer wants to buy them out.
“Certainly when the company gets into their Series C and onward there is opportunity to sell for the first set of investors, as there should be. Secondary markets should be bigger than they are. But if you are investing with the hope that you will get your capital back in a few years or a note with interest regardless of the companies standing, then you should NOT be investing in early stage businesses. Remember whatever you put in has a bigger potential of not coming out.”
I did it. I just committed $15 a month to have access to all of the tutorials and lectures pre-recorded by experts in various fields.
The program is called Master Class and it’s all available online. I don’t know about you, but I am grateful to be living in a time when all I have to do is “click” and “learn.” The great thing about these online classes is that I can take them with me everywhere I go, and can watch them anytime I please. I will let you know which ones I enjoy the most.
There is a whole new concept in journalism today that you probably know very little about. I hate to burst your bubble, but writers for newspapers, magazines and internet sites, are judged and paid by how many “likes” they get for the stories they produce. Media Post, a marketing newsletter, reported that many publishing companies
“pay bonuses to reporters whose stories drive page views and digital subscriptions.”
The editorial world has changed dramatically. It also impacts your favorite TV reporters. If they don’t have thousands, or better yet, millions of followers on Facebook, Twitter and Instagram, they could possibly get replaced by folks who do.
In other words, not only do writers and TV broadcasters have to create unique and interesting stories, but they have to hope their work generates record-breaking clicks.
Media Post said that paying reporters based on clicks has been a common practice “among zillions of publishers in the digital era.” They remind us that ”business considerations should never interfere with a reporter’s job of gathering facts and writing fair and balanced stories.”
The digital world has changed all that. If a print reporter, or TV journalist, doesn’t have a big following, they quickly become yesterday’s news, (fired).
I have a habit of always chewing my tongue. I’m doing it right now as I type this blog for you.
I heard about a new gadget that can help us kick our habits. The Pavlok bracelet, at $200 on Amazon, delivers a zap that reminds you to stop practices that you want to get rid of.
The engineers at Behavioral Technology in Salt Lake City, Utah, believe a little zap will help you suppress nasty habits in three to five days.
That would be wonderful. My tongue will thank you forever.
The Pavlok creators say their product trains your “reptile brain” into associating the unpleasant sensation with your preferred vice.
The company’s website says, “Aversion therapy is Pavlovian Conditioning — associate the habit you want to stop, with a negative stimulus (like Pavlok’s shock) for a period of time, for a few days in a row. Rapidly, the brain learns to associate the two stimuli together, and stops liking the habit.”
The shock tingles. It doesn’t hurt. There is enough of a sensation to help you reprogram your brain.
Gay Pride is front and center in Germany. The majority of Gays no longer hide their identity. The parade we witnessed brought tears to our eyes. It’s wonderful to see that people are free here to express themselves.
After interviewing a number of people, I learned that most of the folks who live in the cities of Germany are pretty liberal. When you start to go out to the suburbs, or rural areas, folks get more traditional. It’s the same in the United States. The young adults and children here are trying to understand what happened during the Hitler days and how it occurred. They ask their parents how much guilt they should be responsible for? Most of the replies I heard were “it’s more important that you understand what took place during the Nazi era so it never happens again.”
The Germans are very concerned about Trump. They are stumped by his caustic style and his ability to deny climate changes. They see trouble for the world if he stays in office.
We travel outside of the States more frequently than others. It used to be wonderful that we lived in a country that most others respected and admired. Today, it’s a very different story.
This is so clever. Restaurants in Germany offer to charge your cell phone while you are dining in their establishments. Your cell phones are placed in little lockers with built-in charging stations. Every guest has his, or her, own locker and key. Not only do you get to charge your phone, but you and your companions are cell free during your meal. No interruptions. Just face -to – face conversations.
Can you imagine traveling to any country of your choice, and being able to converse in the native language? Now you can with Pocket Talk.
Traveling with Innovation Insider, Steve Greenberg, has its advantages. He brings his gadgets to test on his trips. When I saw Pocket Talk at breakfastthismorning, I knew I wanted to share it with you. Watch the videos.
We visited the town of Bamberg today and had some fun with their public sculptures.
Called “The Sculpture Meeting,” by Chinese artist Wang Shugang, this art piece depicts eight lifesize squatting men, positioned in a circle on Schönleinsplatz Square, near a busy crossroads in the middle of the old town of Bamberg. The work of art is made of bronze, varnished in red. and goes back to an exhibition in the year 2013, “CIRCLES,” when it was first shown in Bamberg. Thanks to private donations and private funding, The sculpture has grown into a very popular subject for photos as the artwork is open to walk through and sit besides the eight men, thus becoming part of the artists creation.
When I tried to copy the position of the red men, I fell right on my tush. After I got up, I did my comedy routine, but no one laughed.