• Great companies come from the right founders, in the right industry, at the right time
• Founders are more important than ideas or even markets (you can always change ideas/markets but its very hard to change founders)
• Look for "ThunderLizards" - startups that are going to move very quickly
• The market is small, don't advance yourself at someone else's expense, it will ultimately hurt you
• The best deals have significant competition, be sure to add value not just money
• Complex terms are a big turn off, Term sheet docs shouldn't be bigger than 1-2 pages
• Convertible notes increasingly used instead of equity
• Do the founders have a way of managing the departure of a team member so that your dont end up with a dead weight? (Ensure founders have vesting on their starting equity)

Labels: business, internet, startups

Posted by Nick HaC @ 9:38 PM