New York entrepreneur Charlie O’Donnell is doing a brave and interesting thing–pursuing the uber-anti-stealth model for launching a start-up. For example, Charlie put his business plan for Path 101 online about three seconds after first hitting “SAVE” (here’s what we thought of that). Then he recruited employees, partners, feedback, etc. (all of which he got). And now Charlie’s on the road pitching VCs. And getting rejected. At least this time.
In a nice “shoe on the other foot” post, the man who showed dozens of would-be fundees out the door at Union Square Ventures describes how it feels to get his own pitchbook handed back to him. In short? Crappy. (More…)
Instead of whining about how the firm’s partners “didn’t get it,” however (a typical response), Charlie learns mature lessons from the experience. To which we say: “Well done!”
And to which we also say, “$%#! ’em!” They’re in Boston, for goodness sake! (the region where one prominent VC is just now beginning to allow that passing on Facebook it “might prove to have been a mistake”) As you schedule the next round of dime-a-dozen meetings, remember the CNET guys, who, legend has it, pitched and were rejected by one hundred and 40 firms before one finally said yes. And keep up this cool experiment, which, if nothing else, is ballsy and entertaining.