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What a Waste

Fund: Keiretsu Forum

Posted by Anonymous on 2010-07-02

PUBLIC:

We pitched two keiretsu chapters in SoCal. The $1500 fee was thankfully waived. It would have been very upsetting to part with $1500 on this crew. The attendees were poorly screened. In both cases it seemed that 2/3 the crowd were either lookee loos or professional services folks (e.g. lawyers or CPAs) looking for business. They gave us 10 minutes to pitch and 10 minutes of questions. The questions were for the most part unsophisticated or just plain annoying. One guy, an IP attorney, monopolized everyone's time asking pointless questions on arcane points of IP law. The average age was probably around 60 - I have nothing against folks this age, but if you are pitching a IT play or anything with targeted at a youthful demographic you are probably wasting your time. Afterwards, the entrepreneurs were shooed out of the room while the "investors" conferred. We were then invited back in for networking. The organizers did nothing at this point to facilitate discussion. It was a free-for-all and we found ourselves buttonholed by people who wanted to share lame comments or questions.

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