VCs have a bad reputation: this is what i am told all the time. I am not sure of this extreme affirmation. I can understand that in a job where 99% of the time you say “no” you raise some serious critics. But i am still in search of what could be the real reputation of a VC.
TheFunded is a brilliant cool idea to provide feedback on Venture Capital firms and the way they treat entrepreneurs.
Mike has a good analysis on the service and its limits and possible improvements.
Thank God LgiLab is not listed (actually it is not a separate fund), but i would have loved to hear some honest feedback from companies i meet.
Because you have the money (and some relations) i would understand that some company fear to say really what they think about how you treat them.
If TheFunded, which is well executed, nails down the imperfections, privacy issues and reputation system (specially if they can find a way to validate profiles and stories and filter spams), this could become a valuable tool to the industry and to entrepreneurs as well. Let’s rather say an indicator rather than a tool.
Although at the end of the day, like in dating sites, you don’t know what you get until you are married and signed the papers. And even then…