Re:Ask HN: Value of "Smart Money"
by staunch on Monday November 15, 2010 @03:42AM
(#1905703)
Maybe if you get a great VC he'll play a big role in your success, but it's more likely he won't do all that much.
Raising $5M from a VC is no easy task. You should probably not waste months on that if you can get a check tomorrow from this guy.
The thing that stands out to me is that you mention he is an "aggressive personality type", which I read as "he can be a ruthless asshole". That's the biggest concern I'd have. For someone like that you cannot risk giving him control. You should control the board by a majority and protect that and everything else very well in the legal agreements.
Raising $5M from a VC is no easy task. You should probably not waste months on that if you can get a check tomorrow from this guy.
The thing that stands out to me is that you mention he is an "aggressive personality type", which I read as "he can be a ruthless asshole". That's the biggest concern I'd have. For someone like that you cannot risk giving him control. You should control the board by a majority and protect that and everything else very well in the legal agreements.