I was soooo nervous; Mr. East Coast Analyst turned entrepreneurial adventurer mooching around the city of San Francisco, riding up to this fine loft South of Market to pitch to…..who were these guys again? Yes, yes, a group of accredited investors – angels. These gents agreed to see me, and here I was riding their private elevator.
Woosh. There I am right in the suite, the home of Daniel Xavier Thornton (not his real name), a fabulously wealthy retired gent who made his fortune in the heyday of HP, Intel, Xerox. He worked for them all as an engineer, executive, advisor, and board member. For over 20 years, he and his close cohort have been placing seed funding east and west. These fine gents were notable for sometimes placing bets on good ideas from team-less subject matter experts; they are not impressed with voluminous business plans, they invest on the gut. Sometimes (often) they help build the teams and go hands on with operations. Sharp, mature, modest, wise angels.
Whenever they addressed me they always used my first name in an almost formal manner, “Alan, we hate most of these Web 2.0 guys, we want to get back to investing in real inventions”. “Alan, can you tell us more about your background as an electronics technician?” “Alan, please don’t tell people who we are, you can do that blog thing, but change our names and location”.
Sure guys. Continue reading