別仇視風險資本家了
????當然,對于“罪有應得”者,亦不必“嘴軟”。眼下時興對風險資本家嚴加討伐,一如泡沫言論般如火如荼。筆者的好友兼聯合投資人杰里?紐曼在Twitter上發帖如下: ????有些企業家對風險投資家的認識偏執之極。我簡直覺得,如果我果真是個混蛋的話,跟這些人溝通起來反而倒容易得多。 ????我得說,我完全理解杰里為何發此感慨。事情再簡單不過。眼下在企業家圈子里,有關風險資本家的誤傳和謠言滿天飛:“風險資本家混蛋透頂。如果你出于企業發展需要可以接受他們的投資,但千萬得跟他們保持距離。他們一有機會就想把你害個半死。當然,更不能相信他們?!?/p> ????在企業家給同行的忠告里,沒什么比這個更為愚蠢,更為孤陋寡聞的了。我可以非常肯定地證實這一點。而且,我這么說,不僅僅是打趣,而是因為最近在與一家我參與投資的公司打交道時,深切地感受到了上述恐懼與擔憂。 ????IA Ventures的做法跟我參與管理的所有風險資本公司的做法并無二致,那就是要與被投資公司管理層建立合作伙伴關系,深入一線,了解并參與被投資公司的決策。對于這種行事風格,我們參與投資的公司的創始人幾乎無一例外地全盤接受。他們選擇我們,不僅由于我們具備充足的專業知識,而且還因為他們認同我們的工作方式。 ????但是,有時我們也會遇到這種情形:雖然我們一心認為可以助其一臂之力,但公司創始人對于讓我們密切參與公司決策,仍然心存疑慮。盡管我們之間的互動令人愉快,但那都不過是表面的官樣文章。我們雖然請求以某些方式提供幫助,但得不到積極回應。也很少有人詢問我們對公司決策的意見。那種感覺糟透了,因為我們希望能助其一臂之力,而且我們也有能力為公司增加價值。但是,出于某種莫名其妙的原因,創始人就是不讓我們參與。 ????事實上,最近發生的一件事表明,原因其實很簡單。在一次旨在“消除誤會”的交流中,我們發現,這些平生頭回創業的創始人從一些資深創始人處得到了忠告:他們不能相信風險資本公司。這里,不被相信的風險資本公司不是單指IA Ventures或我們的聯合投資者,而是就風險資本公司總體而言。他們不能為公司增加價值,他們會毀了你,以及所有諸如這般的毫無價值的廢話。我們達成投資交易已有一年。這一年里,我們曾竭盡全力突破創始人的保護層,但屢遭拒絕?,F在,真相終于大白。我必須說,我簡直怒不可遏。 ????這些創始人由于少不更事,主動向那些較有閱歷的人尋求建議,本在情理之中。說實話,我也會建議他們聽取過來人的意見。所以,與其說我的憤怒是針對這些年輕創始人,不如說是指向那些富有經驗的老手。這些人僅僅因為個別人或者機構傷害了他們,就將整個風險投資業說得一無是處。盡管前面案例中提到的幾位創始人擁有卓越的才華,在過去一年中,幾乎完全靠一己之力開創出一片天地,但是,他們本來可以得到值得信賴、積極進取、又有遠見卓識的投資者的幫助,卻出于恐懼不敢向其求助,這實在是可惜可嘆。我將此完全歸咎于對風險投資家心懷仇恨的人。 ????由于某些人的惡行而對之產生怨恨心理,并且一朝被蛇咬,十年怕井繩,害怕再度與之合作,對此我完全能夠理解。但是,如果因此而非難整個行業,那不免以偏蓋全到了極點。這類行為帶來了慘痛的代價,影響到了相關人員的生存。 ????因此,當缺乏經驗的創始人前來向你取經,在向他們發出忠告,指出某些人僅僅因為從事某個行業就不值得信任之前,不妨深思熟慮,想想這些話是否在理,又會產生什么影響。我相信,你會發現,這些話不僅有失公允,而且毫無助益,特別是對那些你打算幫助的人——新創始人們。 ????本文作者羅杰?艾倫伯格是風險資本公司IA Ventures的創始人和執行合伙人。 ????譯者:大海 |
????…just the ones who deserve it. VC bashing, like bubble-talk, is clearly in vogue. A good friend and co-investor of mine, Jerry Neumann, tweeted the following: ????Some entrepreneurs are so paranoid about VCs that I think it would be easier to communicate with them if I actually were an asshole. ????I've gotta say, I completely understand where Jerry is coming from. Quite simply, there is a lot of misinformation and mind games going on among members of the entrepreneurial set that goes something like this: "VCs are a**holes. Take their money if you must but by all means keep them at arm's length. They will try and f*&k you at every turn. And certainly don't trust them." ????This is about the most idiotic and ill-informed advice an entrepreneur could give another. I can tell you for a fact this is true -- not just anecdotally, but because I've recently experienced these precise fears and misgivings with one of my portfolio companies. ????The IA Ventures way, as is the way of all the VCs I choose to work with, is to be partners with management, hands-on and in the trenches. This is almost always extremely well-received by our founders, who specifically seek out our involvement both because of our domain expertise but also our modus operandi. ????But sometimes we run across situations where founders whom we think we can help appear wary of our close involvement. While our interactions are pleasant, they are generally superficial and perfunctory. Requests for ways in which we can be helpful aren't actively responded to. We are seldom asked our opinion about strategic matters. From our perspective it is very frustrating because we want to help and are equipped to add value, but for some inexplicable reason the founders simply won't let us. ????Well, the reason in a recent case is actually quite explainable. In a cathartic "clearing the air" session, it came out that these first-time founders had gotten input from more experienced entrepreneurs indicating that they shouldn't trust VCs. Not IA Ventures and our co-investors, but VCs in general. They can't add value. They will screw you. All the usual general, worthless crap. So after a year of being in a deal, trying to break through the protective shell of the founders and repeatedly being denied, the truth came out. And I've got to tell you, I am royally pissed off. ????My anger is less at the founders -- they are young, inexperienced and actively solicited input from those more experienced than them, which is exactly what I would have told them to do -- than at the seasoned founders who because of their own tainted experiences with specific people and firms are painting the entire industry in a negative light. While the founders are great and did a really good job over the past year almost completely on their own, it is criminal that they could have received the help of trustworthy, motivated and knowledgable investors but felt afraid to let it happen. And I lay the blame firmly at the feet of the haters. ????I totally get being angry at people because of bad behavior, and sharing concerns about working with specific parties based on actual experience. But to have a holy war against a set of people just because they are members of that set is the worst kind of profiling. And there are very real and tangible costs to such behaviors, which impact actual people's lives. ????So before advising less experienced founders who look up to you not to trust others simply because they work in a given industry, think long and hard about the logic and the impact of those words. Because I think you'll find that they are neither fair nor helpful to anyone, especially those you are supposed to be helping: the founders. ????Roger Ehrenberg is the founder and Managing Partner of IA Ventures |