Lately, I’ve been studying the crypto world quite a bit. One of the most fascinating bits is how far we still are from a real, consumer, user experience of anything crypto.
Yet, touchpoints to the general public already exist. One is the monetisation of webtraffic.
Setting aside the mining efficiency considerations (CPU mining? really?), I was curious to check how a different “tax on content consumption”, other than advertising, could work out in the UX flow.
To this end, I converted my startup links to coinhive shortlinks, so that every time a user wanted to visit a link, she would go through a few seconds of mining before accessing the link.
The result? Unsatisfying. Having to wait to load a link is an unbearable pain (go figure).
I might try different things going forward (e.g. permissioned mining while staying on the page?). In the meanwhile, I reverted back to straight links.
No more mining tax :-)
As I am on the flight back from Finland, where I just spent three days attending Slush 2015, sounds about the right time for putting down a few notes about my experience during the event, and taking the opportunity to thank all the people who made this possible.
First of all, let me say that I am extremely happy about Missione Italia, a further proof that bottom-up, execution- and passion- driven organisation of something great is possible.
The idea of bringing together a group of great people to attend a major european event was born out of a random conversation with Thalita Malagò, secretary general of AESVI, wondering how to support independent gaming studios from Italy in getting in touch with investors, partners and other relevant operators. We decided to attend a major European event, and Slush was the perfect target for AESVI’s associates.
A couple of additional conversations brought together a great coordinator based in Finland (who eventually created and put together the Missione Italia brand), an extended group of Italian investors and startups, and finally the Italian Ambassador in Finland, who supported (and sponsored!!) this group comprised of 16 startups and a bunch of investors and other operators, all together under the same roof.
We planted the seed of something here, more things to come!
I have not been around in the last 18 months (and by “around” I mean outside of Italy), but several friends, colleagues and contacts have, bringing back mixed feedbacks from the ecosystem events that have sprung up all over Europe. Slush was a pleasant surprise, and I was hit by these numbers in particular:
A few things I loved: wide halls, plenty of space, interesting speakers (but I can’t say I was amazed by every single presentation). Moreover, great networking opportunities - if you plan to attend next time, be aware that you need the stomach to continuously talk to people in 15’ streaks.
For sure, it was great getting to listen to investors such as Niklas Zennström, founders such as Maximo Cavezzani, and so on.
David Tang, managing partner of Nokia Growth Partners, described his (very quotable) framework for explaining what a venture capital investor looks for in an investment candidate. He called it the “4Ps of Venture Capital” (from a guy coming from marketing, this is kind of an obvious pun):
There was big talk about the usual themes (where are unicorns coming from in the next 5 to 10 years? Answers were ranging from IoT to self-driving cars to digital health). Nothing really new under the sky of innovation (at least from a 30.000 feet point of view).
Another great quotable line, and something we should really think about, was made by Tom Hulme (partner @ Google Ventures): “We are as good or as bad as the questions we ask. If we ask how to be Silicon Valley, we are doomed to be a second rate version.”
My special thanks for this opportunity go to Thalita Malaga and AESVI, for leaving their comfort zone and believing in trying new things, to the Italian Ambassador in Finland and his staff, for how much they supported us, to Paolo Borella and Vertical Accelerator, the pivot that made all of this possible, to Stefano Alberico, the glue putting all of us together, to the 16 entrepreneurial teams attending the event (best of luck, all of you, you are heading towards great things!). Finally, thank you to all the other friends we met in Finland (the Missione Italia team could have easily been double the size). Looking forward to the next one, folks!
It is always refreshing to watch a portfolio company growing up (actually, structuring itself up), and Cortilia is no exception. Even more, Cortilia is one of the first portfolio companies I’ve been involved with since dPixel’s first investment in 2012 - and this makes the following announcement particularly sweet.
In fact, Cortilia is growing and needs to expand the team. They need to fill a few positions (based in Milan, Italy):
Open positions at Cortilia can be found at the following link:
Follow the links above if interested!
Since the end of urlist, I’ve been keeping an eye open for a solution to my needs for quick saving, cataloguing and sharing interesting links. Even though the first two requirements can be easily solved with any browser’s bookmarking capabilities, it’s the third one that I care most.
I’m still on the lookout for a solution that fits my needs, in the meanwhile I’ve added a section to my blog (yes, it’s the “startup links” section up on the right), where I’ll be adding interesting links and readings, with a focus on resources useful for seed-stage startups.
In case you find out any interesting link that you feel should absolutely be in the list, tweet me about it or add a comment, I’ll be happy to take a look.
I have written about scouting, searching for investors, and preparing for the pitch. With this post I’d like to briefly discuss how I like the first meeting to happen. The dreaded first meeting with an investor is the apex of all the work that you, the entrepreneur, have done. And the beginning of a new phase in the fundraising process.
Let me get this straight. There is no magic. You are just one of the daily meetings this investor will have today. He will surely give you all of his attention, and if you are good you both will enjoy the meeting. If you are just short of good, you will immediately know (around minute 7 of the meeting, when the investor takes out his iPhone and starts reading emails).
Having said that, this is my set of suggestions for the first meeting:
Take notes. This is something in between a job interview and a business meeting. Questions, requests for more data and suggestions will abound… In addition, taking notes will prove you take your audience in high consideration.
Best of luck!
If you are a first-time entrepreneur and you are fundraising for the first time, you might be tempted to concentrate your efforts on the first investor who seems to be somewhat interested in your idea, and give up on looking for others investors.
In this case, you will NOT be forgiven. Here are a couple of reasons:
Is this inefficient? Yes. Is this time consuming? Yes. Is this the possible difference between winding up or getting to create a great company? Yes.
So, what are you waiting for? Get out there and restart your fundraising efforts.
In my previous posts in this series I outlined a few personal insights on searching for startups; now I feel ready to jump to the other side of the table, and discuss about prepping up for pitching to an investor.
Before starting your hunt for capital, you should answer a fundamental question: “Does my business really require VC investment?”. This seems trivial, and if you are reading this the answer is probably yes, but do not take it for granted. If you do not feel ready to:
then I strongly advise against looking for VC.
In all other cases, before trying to reach an investor, you should get ready.
You must be ready to shoot your best shot. And the best shot includes you and your team (aim for the best), your project and the material you prepare to present it to investors. I am not going to discuss the “you” and “your project” part of this (I might write a separate post for this), but be aware that the typical investor wants to invest in a great team and in a great product/opportunity.
Let me jump for now to the materials part. I personally have three items I love to see and discuss. If you don’t have them, I’ll ask for them, so have them always at hand.
Take your time and learn your numbers.
Good luck with that investor meeting!
I am an Oxford MBA and an engineer with a passion for innovation and startups. I currently work with dPixel, a venture capital advisory firm based in Italy, and advise a few great startups such as Wanderio. Everything you can find here is my opinion alone. You can follow me on Twitter. Find more about me on Linkedin.