Slides for my keynote at the VA Angels summit in Calgary, AB. Signup for my weekly updates at bit.ly/dashboard-research

1. @paulsingh #VAangelsEPIC
PAUL SINGH
@paulsingh・paul@dashboard.io・dashboard.io
THE EVOLUTION OF THE PRIVATE MARKET
THE RISE OF THE ANGELS
(AND THE ENTREPRENEURS)

2. @paulsingh #VAangelsEPIC
@paulsingh・paul@dashboard.io・dashboard.io
500 STARTUPS

3. @paulsingh #VAangelsEPIC

4. @paulsingh #startupchile
A (R)EVOLUTION IN THINKING

5. @paulsingh #VAangelsEPIC
EARLY STAGE
STARTUPS
HAVE CHANGED

6. @paulsingh #VAangelsEPIC
STARTUP COSTS
LOWER THAN EVERBUT SCALING STILL COSTS MONEY
CLOUD, OPEN SOURCE AND ONLINE DISTRIBUTION DRIVING

7. @paulsingh #VAangelsEPIC
WEB GETS BIGGER.
WORLD GETS SMALLER.

8. @paulsingh #VAangelsEPIC
TRACTION IS THE NEW
INTELLECTUAL PROPERTYPLATFORMS (SEARCH, SOCIAL & MOBILE) PRIMARILY DRIVING THE CHANGE.
NO LONGER “GOOD ENOUGH” TO DEPEND ON TECH DIFFERENTIATION.

9. @paulsingh #VAangelsEPIC
CAPITAL
INCREASINGLY
COMMODITIZEDRISE OF THE ANGELS, YO!

10. @paulsingh #VAangelsEPIC
NEW REALITY:
MONEY FOLLOWS
FOUNDERS
RISE OF THE ENTREPRENEURS, YO!

11. @paulsingh #VAangelsEPIC
SIGNALS ARE
EVERYWHERE
BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC

12. @paulsingh #VAangelsEPIC
SIGNALS ARE
EVERYWHERE
BIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC

13. @paulsingh #VAangelsEPIC
TRANSPARENCY IS
SIGNALS ARE
EVERYWHEREBIG DATA + OPEN SOURCE ANALYTICS = NEW TECHNIQUES FOR VC

14. @paulsingh #VAangelsEPIC
WALL STREET
BEAT US TO IT

15. @paulsingh #VAangelsEPIC

16. @paulsingh #VAangelsEPIC
UBS PROPRIETARY
SATELLITE PARKING LOT
FILL RATE ANALYSIS
POINTS TO AN
INTERESTING CADENCE
INTRA-QUARTER AND
POTENTIAL UPSIDE TO
OUR VIEW.
“

17. @paulsingh #VAangelsEPIC

18. @paulsingh #VAangelsEPIC
TWICE A WEEK A SMALL
HELICOPTER CIRCLES
OVER CUSHING’S TANK
FARMS ON AN OIL
INDUSTRY SPYING
MISSION.
“

19. @paulsingh #VAangelsEPIC
WALL STREET
ISN’T ALONETHESE TECHNIQUES ALREADY USED TO UNDERWRITE IN-VITRO
FERTILIZATION LENDING, PAYDAY LOANS, SUBPRIME AUTO
LENDING, HOME/PERSONAL/AUTO INSURANCE AND MORE.

20. @paulsingh #VAangelsEPIC
WE CAN DO IT, TOOSURPRISE!
IT TURNS OUT,

21. @paulsingh #VAangelsEPIC
+ “GUT” + TRUSTED MENTORS + MUCH, MUCH MORE DATA.

22. @paulsingh #VAangelsEPIC
WE CAN DO IT, TOO.

23. @paulsingh #VAangelsEPIC
WE CAN DO IT, TOO.

24. @paulsingh #VAangelsEPIC
WE’RE DOING IT, TOO.

25. @paulsingh #VAangelsEPIC

26. @paulsingh #VAangelsEPIC
VENTURE CAPITAL IS
OPEN TO ATTACK BY
DISRUPTIVE NEW
BUSINESS MODELS AND
TECHNOLOGY.
“
-- NAVAL RAVIKANT (@naval)

27. @paulsingh #VAangelsEPIC
data.dashboard.io

28. @paulsingh #VAangelsEPIC
data.dashboard.io

29. @paulsingh #VAangelsEPIC
EARLY STAGE VC
IS CHANGING
HAS CHANGED

30. @paulsingh #VAangelsEPIC
STATE OF THE ART IN EARLY
STAGE INVESTING IS NOT
VERY SOPHISTICATED

31. @paulsingh #VAangelsEPIC
UNBUNDLING OF
ADVICE, CONTROL
AND MONEY

32. @paulsingh #VAangelsEPIC
USED TO BE ABOUT
CAPITAL, DEALFLOW
AND JUDGEMENTTODAY, IT’S ABOUT ACCESS.

33. @paulsingh #VAangelsEPIC

34. @paulsingh #VAangelsEPIC
data.dashboard.io

35. @paulsingh #VAangelsEPIC
(500) CHECKLIST
Product solves a problem for a specific target customer
Capital-efficient businesses - operational @ <$1M funding
Primarily internet-based distribution - search, social, mobile, local
Simple revenue models - transactions, subscriptions or affiliate
Functional prototype before investment (or previous success)
Small but measurable usage - some customers, early revenue
Small but cross-functional team - engineer, design/UX, marketing

36. @paulsingh #VAangelsEPIC
(NEW) FINANCINGS
Standardized terms
No fixed amounts, no closings, no leads
Continuous, not discrete rounds
Prices beginning to float
No Board seats at the earliest stage
Herd mentality and oversubscriptions

37. @paulsingh #VAangelsEPIC
BY ITS NATURE, THE
INTERNET UNDERMINES
ANYONE WHOSE STATUS
DEPENDS ON
PRIVILEGED ACCESS TO
INFORMATION.
“
-- MICHAEL LEWIS

38. @paulsingh #VAangelsEPIC
THE PRIVATE MARKET IS
BECOMING MORE
ACCESSIBLE.

39. @paulsingh #VAangelsEPIC
THE PRIVATE MARKET IS
BECOMING MORE
TRANSPARENT.

40. @paulsingh #VAangelsEPIC
Demo DayVideos ⟹ livestream.com/500startups
Sample Pitch Decks ⟹ slideshare.net/500startups
Venture Capital 101 ⟹ venturehacks.com/archives
Investor Thoughts:
Brad Feld ⟹ feld.com
Fred Wilson ⟹ avc.com
Chris Dixon ⟹ cdixon.org
Mark Suster ⟹ bothsidesofthetable.com
angel.co/valuations and angel.co/salaries

41. @paulsingh #VAangelsEPIC
data.dashboard.io

42. @paulsingh #VAangelsEPIC
THE PRIVATE MARKET IS
BECOMING MORE EFFICIENT.

43. @paulsingh #VAangelsEPIC
THE PRIVATE MARKET IS
BECOMING MORE EFFICIENT.
AND, SOON, MORE LIQUID.

44. @paulsingh #VAangelsEPIC
YOUR KEY TAKEAWAYS
Focus on Traction.
Learn to Communicate and Inspire.

45. @paulsingh #VAangelsEPIC
ALSO...Distribution > Product
Tactics > Strategy
Notability > Credibility
Get on AngelList
Raise 12-18+ months of funding
Learn the basics of VC economics
Don’t confuse due diligence with progress & probability...
Shameless plug: data.dashboard.io

46. @paulsingh #VAangelsEPIC
@paulsingh・paul@dashboard.io・dashboard.io
THE EVOLUTION OF THE
PRIVATE MARKET
THE RISE OF THE ANGELS (AND THE ENTREPRENEURS)