I like it - count me in also. Michael
On Thu, Feb 12, 2009 at 1:04 PM, David Jones <david.jo...@gmail.com> wrote: > I'm in. > > > > On Thu, Feb 12, 2009 at 12:56 PM, Phil Sim <philip...@gmail.com> wrote: > >> >> Yeh, it might be worthwhile for us to not limit it. We'll just say >> we've got this much money to spend and will investing in up to 3 >> startups. Startups could ask for how much they want and want equity >> they were willing to give up for that as part of the application >> process. >> >> On capping, I think its best to get 50 smart people as part of this - >> so if we can get to the $25k without needing people to invest more >> than the $500. Of course, if we're short of people and some are >> willing to take two shares than all well and good. >> >> Phil Sim >> Chief Executive Officer, >> MediaConnect Australia Pty Ltd >> www.mediaconnect.com.au >> phi...@mediaconnect.com.au >> Ph: +61 2 9894 6277 >> Fax: +61 2 8246 6383 >> Mobile: 0413889940 >> >> >> >> On Thu, Feb 12, 2009 at 12:42 PM, Shaon Diwakar <sh...@shaon.net> wrote: >> > $25K is sizeable chunk... you could probably fund 2 - 3 start ups with >> that >> > money (of course depending on the idea). Wouldn't it be risky to be >> putting >> > all our eggs in the one basket? >> > Quoting from ycombinator [1]: >> > "We usually invest $5000 + $5000n, where n is the number of >> participating >> > founders (i.e. 2 founders get $15,000, 3 get $20,000), in return for >> between >> > 2% and 10% of the company. The median is 6%." >> > Also, count me in... I'll chip in $500 even though I'm poor. Considering >> > current cash rates are at all time lows, it could probably net better >> > returns... then there's that feel good factor too :-) >> > Also would there be a rule as to how much money any one investor could >> > invest in? It would be good if no one person could contribute more than >> $500 >> > if possible (I know this might be against the ethos of investment). I >> think >> > it would be good to rate limit egos and, prevents one investor from >> > potentially bullying others. >> > Just a thought! >> > Cheerisms, >> > sHz >> > [1]: http://www.ycombinator.com/s2009.html >> > >> > On 12/02/2009, at 12:15 PM, Elias Bizannes wrote: >> > >> > Legal and finance can be taken care of by my old man and myself >> > respectively. >> > I'll put $500 to be an investor and help you find another 48. >> > Three questions: >> > 1) What proportion of the equity do the investors put in and how much is >> > retained by the founders? >> > 2) What will be the selection process? >> > 3) Any special conditions (ie, brand new startup, investors cannot be >> > funded?) >> > >> > Elias Bizannes >> > http://liako.biz >> > >> > > >> > >> >> >> > > > > -- __ Michael Harries --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Silicon Beach Australia mailing list. No lurkers! It is expected that you introduce yourself: http://groups.google.com/group/silicon-beach-australia/browse_thread/thread/99938a0fbc691eeb To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en -~----------~----~----~----~------~----~------~--~---
