If you were put on the spot for financing for your idea, how would you answer?
A little bit of stumbling might be understandable if you got asked out of the blue through pure serendipity. But what if you went to an investor forum and you didn’t know about pre-money valuation and share price? You don’t think this ever happens?
MJ was discussing his experience at the Y Combinator Demo Days and compared it to his experience at the Angel Forum…
Here is the part that is so frustrating as an investor:
Everyone is asking for money and I am asking, how much money do you want? For how much of the company? And no one can answer that question. In fact not one person answered that question.
