This is what happens when VC's invest on the people and not the concept. Jobster's business model has been changed 3 times now. And it begs the questions, what the hell did they do with the $41 million? Did they spend at least half of that on marketing? Last year Jason Goldberg was everywhere like a superstar. VC will be stupid to invest on this company. Their concept is flawed and through experience, one the founding CEO or founders leave the company, that is the sign - Run and never look back. Take back that $7 million and invest on another start up, heck two other startups. And this time at least, pay attention more on the concept and not the people.
Tony Wright
· 1 year ago
@Chris311
Chris, what you're saying is (IMO) just plain wrong.
Quote from Fred Wilson:
“…Of the 26 companies that I consider realized or effectively realized in my personal track record, 17 of them made complete transformations or partial transformations of their businesses between the time we invested and the time we sold. That means there a 2/3 chance you’ll have to significantly reinvent your business between the time you take a venture capital investment and when you exit your business.â€
The team matters more than the concept. Though the market you're playing in matters more than your team (IMO).
All Comments
VC will be stupid to invest on this company. Their concept is flawed and through experience, one the founding CEO or founders leave the company, that is the sign - Run and never look back. Take back that $7 million and invest on another start up, heck two other startups. And this time at least, pay attention more on the concept and not the people.
Chris, what you're saying is (IMO) just plain wrong.
Quote from Fred Wilson:
“…Of the 26 companies that I consider realized or effectively realized in my personal track record, 17 of them made complete transformations or partial transformations of their businesses between the time we invested and the time we sold. That means there a 2/3 chance you’ll have to significantly reinvent your business between the time you take a venture capital investment and when you exit your business.â€
The team matters more than the concept. Though the market you're playing in matters more than your team (IMO).