Congrats Dave! This is going to be big!!

boo ya!

Congrats. Dave is already investor in many-many startups like Erply, http://twitpic.com/2a0o8c . He is already the most prominent angel and now VC.

That’s great news but unfortunately, like many other investors he is blindly interested only SV start-ups and not keen on the value based start-ups outside the comfort zone.

Last when I met him, he explained cultural reasons, which are definite reasons but can be overcome. Secondly, you wouldn’t need 30 million Fund to create a billion dollar company, if *you* Dave start looking outside of Valley/US too.

Think about it.
- Arvind

Arvind – “blindly interested only in SV start-ups”
perhaps you’ve been living under your own little tech rock for the past year.

GeeksOnAPlane – Shanghai, Beijing, Tokyo, Seoul, London, Paris, Amsterdam, Prague, Colombia, etc…

I’ve co-organized the Asia tour with him TWICE. I don’t know any other VC who is able to travel to that many places and draw out a few HUNDRED startup entrepreneurs each time …all while bringing 20 other entrepreneurs with him from the US so they can also share in the experience and access that he has.

So not sure how long ago you met him. But with India, South America, Australia all asking Dave — no wait, begging Dave — to bring a GeeksOnAPlane group through there, I would hardly say the man is blindly interested only in SV startups.

Congrats Dave! Show em how’s done :)

@Arvind

Consider a pied-à-terre

Via 500hats twitter feed Dave often travels to Seattle and worldwide with Geeks on a plane.

.

in latest two years I’ve sent at least 150 emails to venture capitals and business angels but NO ONE has sent me an answer and just two-three have visited the websites that explain the projects I’m seeking funds for

so, do VC and BA really exist??????????????????

gaetano marano
mylowcostpc.com

.

Is he going to crowdslave his angel investing too?

.

anyway… your “favorite logo” seems designed by Rocky Balboa… :)

gaetano marano
mylowcostpc.com

.

Hi Christine, you are right about roaming around, Geeks on the Plane, Echelon, Singapore, Japan etc… everything! But when it comes to making an investment, ask Dave and he will answer you better.

By saying ‘blind’, I do not mean to reduce his vision or disrespect (even your thoughts) but there is a gap in his access to the start-ups down there in trenches. And you organizing a double trip itself will contain a disconnect because you too, after all based out of the Silicon Valley.

I hope you see the PoV.

Cheers,
Arvind

Dude I *know* Geeks on The Plane. But that’s not where the action is.

Tx, Arvind

Arvind,

Dave McClure is one of the people in the Valley who DOES look outside the US, especially to Asia – both regarding possible investments and for connections with the local tech scene.

Apart from setting up the GeeksOnAPlane program (which has led DOZENS of people from the Valley to overseas markets in the past), he also invests in non-US companies, i.e. in Tokyo-based MyGengo:
http://tcrn.ch/da8p2H

Me, based out of Silicon Valley? Um, proof that you need to do more overall fact checking before drawing conclusions on anything.

Tx, Serkan for that piece of Info! I do follow your writings on TC, Japan. It was relevant to bring to light that there is a value based *ecosystem* beyond the radar of Dave at this moment. That’s all.

-Arvind

Not far you see: “CEO and Co-Founder at Affinity Ventures China, Greater Los Angeles Area”

http://www.linkedin.com/in/affinitychina

That’s exactly the reason why Location Based Services rock!!! :-)

- Arvind

congratulation Dave.
http://www.bumped.in

Exactly, met him myself in Prague. Was a good meeting (and great afterparty).

Ok, having trawled through your link in your signature and past the 50+ other links/projects/ideas you have going (it sure felt like 50)…

I’m not surprised. You need a bit of focus.

.

why nearly ALL the 99designs’ logos for 500startups have the images of a fist???

is it a precise request of the 500startups’ founder???

gaetano marano
mylowcostpc.com

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The logo sucks… Doesnt align with the values of the company..

- “Fun at All Costs”… authentic, down-to-earth, *real*
- Creative, Smart, Innovative Environment
- Learn & Educate at Same Time
- Move Quickly, Take Risks, Make [Manageable] Mistakes

Which I like.. A lot

Dave rocks.

.

“You need a bit of focus.”

you’re right, that’s why I’ve proposed only two projects to VC and BA but… no answer… :[

gaetano marano
mylowcostpc.com

.

Arvind, why on earth would you want an investor who is located far from you? Do you just need the money, not a real strong relationship, which includes face to face meetings? Why not make the effort and move to Silicon Valley yourself?

Sure, in larger syndicated deals you could have some angels which are not from your location, but most should still follow the 30-60 minutes drive rule.

It seems like only months ago that Dave McClure stated at SXSW that he won’t invest in anyone that he does not personally know. He must know quite a few personal friends. ;-)

With all of the technology available today, why does one have to be within a 30-60 minute drive of one’s investor? It is far from impossible to build strong working relationships using videoconferencing, e-mail, voicemail, and periodic “in the flesh” visits. Forcing a start-up to move to SV when the great market opportunity is elsewhere doesn’t seem like a very thoughtful approach.

Wow, I hope that he didn’t really say that. Part of the motto above says something about “taking risks” and something about not being like “typical” VCs. Not considering investing in someone just because they are not fortunate enough to be a part of one’s personal mafia would seem a lot like the parochial behavior of far too many VC firms.

Good luck with the new vc company!

Now that is a very valid point. Money is not as important as understanding is. That said however, not every piece of talent would want to move to Valley or even America.

I am sure you’d understand that part as well.

- Arvind

Dave makes investments outside of San Francisco. Like my company (AwayFind), SendGrid, and Graphic.ly. I imagine there are others already, and will be many many more with his fund.

Dave doesn’t just travel, he helps other communities in all forms–education, events, and funding.

Congratulations, Dave. The world won’t know what hit them when you’re done. But you’ll never be done.

I’m just waiting for you to add a zero to the 500 in your fund’s name…

Congrats Dave!

It’s true, Dave rocks! Hardest working man in show business.

Well, presumably Dave would get to know someone before investing in his or her company, right?

The logo screams 500. I wonder what happens when the 500 startups are blown up and there is another waiting in the wings.

Dave, excited to see someone who actually gets his hand dirty with code start a fund–congrats and wish you the best!

Arvind, thank you for stalking me on LinkedIn. But you are still clueless if basing your assumptions on limited knowledge of people from a stupid Google search. If you turn off your blinders for a second you’d think twice about drawing conclusions about what and who people know based on where they are based. Over 100K+ frequent flier miles, half of them to China which is a place I lived 5 years in with a network of friends and contacts in the tech sector dating back to the 90s during the dotcom bubble days says that just because I like living near taco stands in LA doesn’t mean you’re not an idiot for making anonymous assumptions about people.

Just admit it, you made an ass out of yourself in your first comment and you might want to rethink why — if you pitched him at all — Dave passed on your pitch.

You know a blowfish wearing a hat is the winning logo. out of frame – rising to the surface – is an air bubble that pops that probably says “bullshit”.

your crazed contagious energy will prevail.

-m

Congrats pirate!

My only suggestion (apart from focus) is to do some research – a good place to start would be Mr. Suster’s blog. It covers a lot of dos and don’ts for pitching. What to get in place, how to go about it.

Start with research and in parallel get focus – one idea, expanded, get a team, pitch to those you know.

Hostile.

@Arvind – while it’s certainly true that if Dave focuses his efforts mainly around the valley he *could* miss huge billion dollar opportunities, if he spent all his time chasing deals everywhere, he would spend even more time on airplanes than he already does. Cities have industries. If you’re an actor, do you *have* to move to LA? No. If you’re an talent agent, do you *have* to be in LA? No. But chances are you’ll get your big break if you’re in LA, and chances are you’ll be more successful as an agent in LA cause all the actors come to LA. So it is with tech and the Valley.

Most VCs stay in the corridor between Sand Hill Road and Woodside. Dave travels far beyond that, and as others have already pointed out, has investments to prove it. Click around on the crunchbase link above, data is just a few clicks away!

Don’t get down just cause Dave turned you down. Get over it. He lives in the valley and it is most efficient for him to be in the valley, and most of the action is in the valley. Find investors in your area, or move to the valley. Either way, as an entrepreneur, you’re going to get more no’s then yes’s. If you dwell on the no’s you’re not going to get anywhere. Go find the next yes. Prove Dave wrong. Knowing Dave, I’m sure he’d be the first to congratulate you if you do.

Congrats to Dave!

Odd though to start up a fund by using exploitsourcing.

I personally guarantee that if a fist-related logo is selected, the first quasi-negative story to appear involving one of 500′s investments will feature a raised middle finger in that same logo.

I read his blog and he is smart. Good news for startups.

Well done Dave, you have the skills to fully pull this of.

I never realized he was born in WV.

Arvind, you are an idiot. First, as Christine points out (from LA, not SV), Dave is very mindful of the whole world. But to the point, being in close proximity to your investments is beneficial for both the investor and the investee (if the investor is to add value beyond cash). Simple. Quit with the mis-placed negativity.

So proud of you, Dave — no one works harder and is more passionate about the consumer startup space.

To the discussion above, may be interesting to see a map mashup of your investments. We’re in Seattle, and I know of several non-SV across the US and several more international — the breadth is pretty amazing.

Onward,
Dave (founder, CEO TeachStreet)

Well done Dave! You made it!

Good thing we’re based in that part of the Bay Area called Tokyo, otherwise we’d never have had any funding!

Go for it :)

Honestly you can’t think of anything lying between Dave and China :-)

The day I ready myself to pitch to anyone, I will check him out too. You have an ego bigger than your brains, miss. And yes, Google is still not a stupid search as you put it.

From your anger it seem “Oh wait Dave, wait is it your interest in China alone?”

- Arvind

@Mike Su, I have not pitched to Dave, till date. Will do it when he/such investors open eyes and ears beyond Christine’s China (affinity) and her moron friend @jdb right next to this comment. :)

Thanks for taking out time writing the thoughts, Mike. I agree to your PoV centum percentum, and appreciate that Dave might one of the first and very few who decided to break away from herd mentality of SV investors sitting there… But that is not a step enough.

Rest, suit yourself. Arvind

Dave! Congratulations to my favorite pirate.

Aha. Methinks time to throw my hat in the ring.

WOW – what a briefing – I’m wish him lot’s of luck sorting out the logo’s.

Congrats Dave – this is good news for SV and (for @arvind) startups everywhere.

Congrats Dave !!

Good Luck in your new avatar as a VC.

Cheers,

Venugopal
Vengo Ventures.

99 designs, all of them shit.