There is a very excited startup out there called Baydin that is about to close its first angel round of financing. One of the investors, at least, is Dave McClure’s 500 Startups.
How did they get McClure to invest? By giving him a ride from a meeting to his mechanic.
Then, my girlfriend noticed Dave’s tweet that said he was looking for a ride to his mechanic. Anyone who picked him up could pitch him on the way. Figuring dignity is for the unfunded, I threw on yesterday’s clothes, hopped on 101, and headed over to Buck’s to give Dave McClure a lift.
The pickup happened, although CEO Alexander Moore seemed a little annoyed that McClure was on the phone for the first part of the ride. But by the end of the “meeting” Dave was hooked and committed to invest $50,000 or $100,000.
I spoke to McClure today about this. He says he’s done this two other times – once in Seattle and once in Boston – but this was the first time he’s made an investment.
“You did this without any due diligence or research into the company,” I asked. His answer – “Yes, but I had a referral from someone.”
“Do you feel like you have an obligation to invest when you get a ride from someone?” I asked Dave. “Psychologically speaking, that’s probably accurate,” he said.
Ok. My last words to Dave included a pointer to UberCab, which we wrote about last night. It might be a less expensive way for him to get around town in the future. Meanwhile, if you’re a startup and you need cash fast, just start following Dave around wherever he goes, and hope that he needs a ride.