Warren, yep I think just treating each round as a separate entity is
absolutely the way to go! Simplicity rules.
So I'm trying to keep the momentum on this going and evolve something
as dead simple as possible, without it falling into a whole or
differing opinions.
1. 500 shares at $500. People
On Fri, Feb 6, 2009 at 4:46 PM, silky wrote:
>
> I personally don't see the point of creating yet another VC firm,
> which is what you guys are talking about with the investment-based
> approach ...
I'm feeling the same, I think this discussion is drifting towards a
miniature version of that mod
hi folks
besides my day job of spellr.us and Melon which myself the team is
flat out with, I have a side project or two - I am interested in
connecting with open source devs in Sydney (or elsewhere) to
potentially work together on a project or two, this is not for paid
work but rather some type
Silky, it's not a VC firm because VC firms don't invest seed money.
The problem with running it how you're proposing with lots of
networking events and so forth and incentivising people to become
members based on benefits is that it becomes a business in itself -
and those type of things don't run
I still think the concept is worth preserving with - I've come across a lot of
people who want to get involved in the scene, are prepared to invest something,
and will feel more motivated and excited about their involvement if they're
something at stake.
From: silicon-beach-australia@googlegrou
I personally don't see the point of creating yet another VC firm,
which is what you guys are talking about with the investment-based
approach ...
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Really an investor is buying to this round, plus any existing assets.
Valuing these would be hard. Valuing them at their initial investment value
wouldn't be proper. I would imagine it would fall afoul of a few ASIC rules.
Even if it's somehow workable, then you're taking away a big risk element -
Phil,
Sounds reasonable; in my limited experience, I think this is called a
recapitalisation.
My only comment: make the price to play higher. Making it something closer to
$2k means people will care more about their investment; $500 for the angel
types (and possibly also $2K, or even $20K) is
I think its key to keep it as simple as possible. This isn't my area
of expertise, but I imagine that each year all investors would be
given the opportunity to invest again and you just essentially add
that number of shares each year. So when you start you start with the
.2 per cent and you can ma
Agreed - A unit trust for each round has it's advantages but it makes each
round more of a gamble, rather than spreading the risk (and the investment).
The alternative could be messy too. After the first round the shares would
need to be priced accordingly - which could be tricky... It could also
I'd think separating rounds could make things a bit messy, particularly if
there are companies who, say funded 12 months apart, turn out to be
competitive..
Still, making the investing in a round separate from the shareholding of being
involved (i.e., shareholding in incubator is separate to in
Makes it complex - by investing are you investing in any returns for that
round, or for the lifetime of the programme?
J
On Fri, Feb 6, 2009 at 1:38 PM, Geoff McQueen - Hiive Systems <
geoff.mcqu...@hiivesystems.com> wrote:
>
> Phil,
>
> Quick question: since the idea is to have "rounds", would i
Phil,
Quick question: since the idea is to have "rounds", would it really be a
commitment to contribute $500 per half year for each of the 500 investors?
If so, the share values themselves could probably be traded - if the group has
a couple of decent exits to proper angel or series A or - Go
I'm behind this idea. It's really exciting tbh.
You can have my money and (although I'm a relative n00b with these
things) am happy to pitch in wherever needed.
Rai
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On Fri, Feb 6, 2009 at 3:21 PM, Phil Sim wrote:
>
> I think anyone would agree that the benefit of being a part of a
> scheme like this, would be the advice and mentoring you would get from
> some of the 500 'shareholders'' who all have an interest in helping
> you to succeed. Suddenly, you've go
I think anyone would agree that the benefit of being a part of a
scheme like this, would be the advice and mentoring you would get from
some of the 500 'shareholders'' who all have an interest in helping
you to succeed. Suddenly, you've got a crowd of people who you can go
for advice, guidance, et
Just to throw another SaaS offering into the mix, I signed up to SaaSu
yesterday which seems quite good.
Aussie founded company based in Sydney: www.saasu.com
On Fri, Feb 6, 2009 at 7:41 AM, Zappy wrote:
>
>
>
> On Jan 16, 2:25 pm, Chris Bayley wrote:
> > Hi - Has anyone been using Xero for th
Hi All,
Thanks a lot for the advice - we're digesting it all and trying to work out
an itinerary now. It's amazing how quickly 8 weeks goes from being a short
period of time to almost nothing at all.
It's probably somewhat odd to head over with such an open agenda - but my
short experience there
Jonathan, if you'd like to be connected to the guys (zvents) behind
http://hypertable.com/ I can provide an intro. The CEO is also a
fairly prolific angel and partner at Net Service Ventures (http://
onotech.blogspot.com/).
On Feb 6, 4:21 am, Viki wrote:
> If you are looking for networking oppor
Hi Deniss,
I'll be there tonight from 6pm onwards.
We have a regular crew of people attending, unfortunately when all of the
long-time regulars don't attend like last week, people assume no one went
and leave. Keeping digging - people are there! Just do a summize.com search
for siliconbeach drinks
Thanks Geoff
On Feb 6, 11:32 am, Geoff McQueen - Hiive Systems
wrote:
> 5pm at the Grace Hotel, Sydney. Each and every Friday. Often they're upstairs
> in Bar 33 where they do a selected 2 for 1 deal (most beers, some cocktails,
> house wines, etc), but lately Bar 33 hasn't been open, so the c
5pm at the Grace Hotel, Sydney. Each and every Friday. Often they're upstairs
in Bar 33 where they do a selected 2 for 1 deal (most beers, some cocktails,
house wines, etc), but lately Bar 33 hasn't been open, so the crew have been
camping out the back of PJ O'Rileys.
Lachlan Hardy is the man
what drinks are you talking about?
I know that everybody know what and where, but I'm unfortunately not
sure.
D.
On Feb 5, 11:12 pm, Jason Langenauer wrote:
> I agree that it should be for-profit too - Not only for the reasons
> Mick lists below, but because I will absolutely guarantee any not-
Indeed Bart. Your post still makes for a very good reality check as I see
much the same here in Adelaide.
Yep, just do it.
Start-ups will still always have to do the old juggling strategy of any
..yes..business. Needs innovation, businesses development, marketing,
chasing the occasional Governme
On 5 Feb 2009, at 23:12, Jason Langenauer wrote:
>
> I agree that it should be for-profit too - Not only for the reasons
> Mick lists below, but because I will absolutely guarantee any not-for-
> profit association will degenerate into chaos and infighting should
> they suddenly find they have $
On Fri, Feb 6, 2009 at 10:23 AM, Bart Jellema wrote:
>
> Have been following this thread for a while. Mick and David, some
> excellent input! Having been around the community for a while now I
> keep hearing this argument over an over that what Australia need is
> more access to funding. This is
Have been following this thread for a while. Mick and David, some
excellent input! Having been around the community for a while now I
keep hearing this argument over an over that what Australia need is
more access to funding. This is bugging me for a few reasons:
- I feel that many use this as an
Mike,
While EO is a fine legitimate operation; I was just highlighting it's
existence and the fact that it's *different* to what I was proposing.
I'm not suggesting an "investment club", as I hope can be seen. EO
and any other organisations and the one I am proposing can live in
harmony togeth
HI Guys
I am an EO Allumni after being a member for 5 years, its definitely not free
but it is some of the best money you will spend, I think the current rates
are ~$3k pa.
Its somewhat like finding the mothership full of other entrepreneurs.
In the fee you get monthly high quality educational e
I was at a dinner last night (prior to a somewhat disappointing Top Gear Live)
and spoke to a few traditional business types. I was surprised at the level of
interest they had with startups. One guy in particular stated that he and some
of his colleagues, had been thinking about investing in tec
If you are looking for networking opportunities while in the US -- and
specifically Silicon Valley/San Francisco, sign up to become a member
of the ANZA Technology Network (it's free!). Go to http://www.anzatechnet.com
and click on the "Membership" link on the left.
We send out updates every coup
I've finally caught up with this thread and I am very excited with
this idea.
I was at a dinner last night (prior to a somewhat disappointing Top
Gear Live) and spoke to a few traditional business types. I was
surprised at the level of interest they had with startups. One guy in
particular
On Jan 16, 2:25 pm, Chris Bayley wrote:
> Hi - Has anyone been using Xero for their accounting (www.xero.com)?MYOBis
> killing me, I find it a pretty hard piece of software to
> understand and learn. Xero is a listed NZ-based start up and is a
> pretty awesome SAAS accounting package - I'm won
If your timing works out, try and join Elias and a few others going to south by
south west in Texas.
When it comes to VC's and the like, talk is cheap and easy, but you've got to
have something reasonably solid to talk about; even if it is still early stage,
have some *mick liubinskas* focus. R
Some similar organisations:
MegaMobile - http://www.mega.org.au/
I think it's free, it offers a fully-mentored program to the members.
But it's a nice effort to help projects, basically for free.
EO - http://www.eonetwork.org/
I don't know much about it, but a few people I know are members, I
On Thu, Feb 5, 2009 at 10:43 PM, Elias Bizannes
wrote:
> I like how you're thinking Silky, but it's more a practicality to get the
> funds in the first place. It's not the board that are the problem, but the
> members themselves.
> Think of it this way:
>
> - for profit: you have a membership, an
This is the kind of thing i would love to get in on the ground floor of.
the crowdsource/community aspect would solve what concerns me the
most, covering this very wide country effectively.
Ive spent most of my life in Perth, and it would be a little hard to
bear the notion that if this kind
Elias' post about structure is also important for possibly other
reasons. Need legal advice here.
ASIC rules on raising capital may kick in - you are basically allowed
to ask family and friends etc, but in Oz outside of that if you seek
more than 20 people who are not sophisticated (thats define
I agree that it should be for-profit too - Not only for the reasons
Mick lists below, but because I will absolutely guarantee any not-for-
profit association will degenerate into chaos and infighting should
they suddenly find they have $10m because they made an good early
stage investment in an Au
I agree with the thread in general.
David made some really good points about the YC / TS / SC models - they run
on the prestige, high quality mentoring and pre-build networks they offer.
The problem is that - if you forget about VCs - what are the startups
getting by giving you x%?
The real valu
Great discussion. My very late and loopy thoughts.
It should be for-profit. Micro-finance works because it is a loan not
a donation.
Seriously forget about VC's. If they knock on your door, great, but
otherwise, just do what every you can to build your business. I guy I
saw talk last night gave
I like how you're thinking Silky, but it's more a practicality to get the
funds in the first place. It's not the board that are the problem, but the
members themselves.
Think of it this way:
- for profit: you have a membership, and a board of directors making
executive decisions on their behalf. A
yep +1 on Cannington - he has touched a lot of peep (well not literally).
The hotdesking space has a bar. (ahem)
Can't help in Collaborative Modelling but on XML meta-data angle:
1. I think Randal Leeb du Toit is another aussie that was doing something on
this a few years back so he may have conne
On Thu, Feb 5, 2009 at 9:28 PM, David Jones wrote:
> I had come to the conclusion that a community driven y-combinator model was
> the best in the context of this country and investor ecosystem, so to see
> the conversation evolve to this is pretty exciting for me. So for fun I will
> call this S
I can also recommend David, we met in SF and I found him to be helpful and
plugged in.
The space is cool too.
Cheers
Riges
On 5/02/09 8:11 PM, "Mike Nicholls" wrote:
> Hi
>
> If you are in San Fran look up David Cannington who was one of the original
> guys in ANZA, he is a good guy and knows m
I had come to the conclusion that a community driven y-combinator model was
the best in the context of this country and investor ecosystem, so to see
the conversation evolve to this is pretty exciting for me. So for fun I will
call this ScuBinator (a very poor pun on silicon beach and incubation).
Great email David, Appreciate your thoughts
On Thu, Feb 5, 2009 at 9:28 PM, David Jones wrote:
> I had come to the conclusion that a community driven y-combinator model was
> the best in the context of this country and investor ecosystem, so to see
> the conversation evolve to this is pretty exc
Apologies for the spam - i'm trying to kick off a new generalist user group
here in Melbourne - it'll run like a monthly barcamp.
Here's the pitch - please join the group if you think you might be
interested - the first meeting will probably be mid March:
http://groups.google.com.au/group/mxug
"
Hi
If you are in San Fran look up David Cannington who was one of the original
guys in ANZA, he is a good guy and knows many of the VC in the Valley as
well as many key players in the web space.
In my experience he will listen to your pitch and give you local feedback
before you go do it in fron
On Thu, Feb 5, 2009 at 7:31 PM, Elias Bizannes wrote:
> Yes policy is crucial. However, I can see something like that getting
> extremely complicated. Community-driven decision making models are not easy
> to design: I spent 50+ hours creating the DataPortability Project's model
> with five super
Crowd-sourcing angel investment - I like this idea, it seems like a
logical extension of microcredit sites like kiva.org that focus on
loans in the developing world.
I presume you would need to set it up like a proper VC fund in terms
of operation? Does that sort of structure scale down to a fund
Yes policy is crucial. However, I can see something like that getting
extremely complicated. Community-driven decision making models are not easy
to design: I spent 50+ hours creating the DataPortability Project's model
with five super-intelligent & wise men - and I was ready to kill someone by
the
*Thanks to everyone for the suggestions - I'll work through it and see how
much I can get in. I'll do my best to write up my experience when I get
back.*
Hi Geoff,
All of the below :-) But to be perfectly honest, mostly the later ones.
We're still in development, so we're canvasing potential cus
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