Real or folklore - an advertisement for Sir Ernest Shackleton's "Antarctic Expedition": "MEN WANTED FOR HAZARDOUS JOURNEY. SMALL WAGES, BITTER COLD, LONG MONTHS OF COMPLETE DARKNESS, CONSTANT DANGER, SAFE RETURN DOUBTFUL. HONOR AND RECOGNITION IN CASE OF SUCCESS." What similarities exist in the "Startup Expedition"?

1. “A Startup Expedition”
“A Startup Expedition”
©2014 Tech Coast Angels

2. “A Startup Expedition”
©2014 Tech Coast Angels

3. “A Startup Expedition”
©2014 Tech Coast Angels
“MEN WANTED for hazardous journey. Small
wages. Bitter cold. Long months of complete
darkness. Constant danger. Safe return
doubtful. Honor and recognition in case of
success.”
The advertisement, whether real or folklore, was
for Sir Ernest Shackleton’s early 1900’s
“Antarctic Expedition”.
A hazardous journey, with honor and recognition
“in case of success”… doesn’t this sound like most
entrepreneur’s “Startup Expedition” as they pursue
a new idea and form a new company?

4. “A Startup Expedition”
©2014 Tech Coast Angels
I.
A “Hazardous Journey”

5. “A Startup Expedition”
©2014 Tech Coast Angels
1. A “Hazardous Journey”
 Ongoing funding not guaranteed
 Lots of employee turnover
 Most startups FAIL

6. “A Startup Expedition”
©2014 Tech Coast Angels
II.
“Small Wages”

7. “A Startup Expedition”
©2014 Tech Coast Angels
2. “Small Wages”
 Generally stock (equity) for lower pay
 Less generous benefits
 Typically longer hours for less pay

8. “A Startup Expedition”
©2014 Tech Coast Angels
III.
“Bitter Cold”

9. “A Startup Expedition”
©2014 Tech Coast Angels
3. “Bitter Cold”
 Focus is solely on Product
 Working “without a net”
 Judged solely on Results: “check your
ego and feelings at the door”

10. “A Startup Expedition”
©2014 Tech Coast Angels
IV.
“Long Months of Complete Darkness”

11. “A Startup Expedition”
©2014 Tech Coast Angels
4. “Long Months of Complete Darkness”
 Ask any programmer or engineer!
 Like mushrooms: “Keep them in the
dark and throw ‘stuff’ on them!”
 OK, not every situation that bad, but
many long, dark days and nights…

12. “A Startup Expedition”
©2014 Tech Coast Angels
V.
“Constant Danger”

13. “A Startup Expedition”
©2014 Tech Coast Angels
5. “Constant Danger”
 Competition: Big and Small
 Execution: need to deliver on time
 Funding: tied to execution
 Failure: Dilution or Company Death

14. “A Startup Expedition”
©2014 Tech Coast Angels
VI.
“Safe Return Doubtful”

15. “A Startup Expedition”
©2014 Tech Coast Angels
6. “Safe Return Doubtful”
 Personal life takes a toll
 Professional life (versus large company
path) can be affected
 Startups leave scars

16. “A Startup Expedition”
©2014 Tech Coast Angels
VII.
“Honor and Recognition
In Case of Success”

17. “A Startup Expedition”
©2014 Tech Coast Angels
7. “Honor and Recognition In Case of Success”
 Startup Success is Satisfying!
 A Startup Could Make you Wealthy
 A Startup Could Make you Famous
 It’s All How You Define Success

18. “A Startup Expedition”
©2014 Tech Coast Angels
1. A “Hazardous Journey”
2. “Small Wages”
3. “Bitter Cold”
4. “Long Months Of Complete Darkness”
5. “Constant Danger”
6. “Safe Return Doubtful”
7. “Honor and Recognition In Case of Success”
Who Wants to Join the “Startup Expedition”?!

19. “A Startup Expedition”
©2014 Tech Coast Angels
Tech Coast Angels, www.techcoastangels.com, the largest angel investor
network in the United States, provides funding and guidance to more
early‐stage, high‐growth companies in Southern California than any other
investment group. Since its inception in 1997, TCA members have focused on
building valuable companies, personally invested more than $100M, and
helped portfolio companies attract more than $1B in additional capital, mostly
from venture capital firms.
TCA members give companies more than just capital; they also provide
counsel, mentoring and access to an extensive network of potential investors,
customers, strategic partners and management talent.
TCA has more than 300 members, including its venture capital affiliates, in five
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and the Inland Empire.
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