Mother of God it’s hot in entrepreneur land.
This weekend, Kojak and Phil Donahue (Yuri Milner and Ron Conway) invested $6 million in the Y Combinator ETF.
My blogging is so weak of late that I forget how to do lot’s of links and frankly I am sick and a little tired so happy to even be blogging just a smidge, but this is some serious shit. The only people it is NOT serious for is Yuri ‘machine gun’ Milner and Ron ‘great hair’ Conway. For these two and their investors, it’s great branding and pocket change. I honestly think they could give rat’s ass what anyone thinks. They just bought the equivalent of the an entrepreneur superbowl ad for twelve months and for their branding… it can’t hurt. It truly is a great time to be investing in startups and they already have killed it off this run and if they truly are marking the top, I don’t think it is, they still have bought mucho entrepreneur brownie points.
You can’t blame the alpha dogs for marking their territory. Green is better than yellow as well.
I find my deals by calling the founders of products I like (cold calling) or because I meet an entrpreneur I would back regardless of the product they are selling. After that, if the price is right I am generally in. I am not going to change how I invest because of this deal.
I do expect this deal leads to some sort of tradable ETF for startups and/or another public CMGI. Lord knows I have been investing around the idea of the return of CMGI and screaming at people I have invested in (they know who they are) to get public already and cash in. The institutions are playing this game with $SINA as a proxy for Twitter and $TZOO as a proxy for Groupon so don’t shoot the messenger.
I believe you must give the public what it wants or Goldman Sachs will!