I repost it here now because I just talked to another VC, and like usual, it wasn’t pleasant. They simply want to know EVERYTHING about my idea(s) without any promises of *anything* – not even confidentiality. Also, I still think a Digg-Like web site that rated various aspects of VC’s would be an interesting project. Anyone want to build it with me?
The “Catch-22” of talking to VCs
VC’s don’t like signing NDAs – so if you want to talk to them, you are pretty much “open Kimono”. You either don’t share your idea with them, or you *trust* them with your idea.
I don’t personally have anything against VCs – they are, I suspect, just like any other group of people – there are good ones, bad ones, honest ones, and liars among them.
But if I share an idea with a VC, with no NDA, what is to stop them from just taking my idea and building it through an off-shored development group, or some other company they are engaged in.
I don’t trust VCs because I understand them – they exist to make money off of other people’s ideas. Why then would I share my ideas with them, with no protection other than “their word”?
I guess it all comes down to their reputation – so maybe we need a web site, similar to “The Consumerist” where people can freely share experiences about various VCs, and what dealing with them is like.