12 karma · joined March 21, 2008
Interested in software and motor sports
I expect this by end of day, please.
1) After pitching only thing they get is an offer with 'participation'. This means a preset amount is guaranteed back to the investors in an exit event if the % gain doesn't match a specific minimum. I.e. Investors are guaranteed 1,000,000 if their equity doesn't exceed that value.
2) A partner sees the company is weak, knows the founders are rockstars and rolls them up for 1.2 million.
3) Founders get jobs at company X and 200,000 split among 3 of them before taxes.
To address your two questions more directly 1) This isn't a college application. Don't just apply and wait for a letter to come back to you. Get your application done early and send it in. Follow up with an email or two. Try and meet some mentors and get their feedback. Don't apply in a vacum! 2) Be open to feedback and work hard. Start now. Get your application done early and get feedback as quickly as you can. Basically, do more faster.
Hope this helps,
-- Henry
Reasons not to go: - You miss 8 hours of development, of which you'll probably work for 4 at best. - Might catch a cold from all the hand-shaking.
Seems like a no-brainer to me, but I'm biased because our company got in to last year's Boston program.