Jason has given all of “angel” groups who charge startups to present to them 30 days to drop their fees (starting from Friday’s episode). We’re tracking how much time they have left to drop the fees and announce on their site that they’ve done so.
If they haven’t stopped charging startups by November 15th @ 1pm, we’ll be launching the Open Angel Forum to put them out of business. Stay tuned for details.
UPDATE: Amazing News! We’ve convinced Keiretsu to drop some of their fees! Read about it at Silicon Alley Insider. Still waiting on updates from the rest of these guys – the counter continues!
Go Jason!!! Start-ups need all the help they can get. Thank you for standing up for the little guys! I tip my hat to you sir!
Rock on! If you need presenting entrepreneurs to go to your venue in obvious preference the the K4 event – publicize this fact & I’ll go.
Looks like we have one down and a half dozen events to go.
http://www.pehub.com/53299/keiretsu-forum-to-drop-fees-for-early-stage-startups/
This organization is like so many other professional service firms who prey on small business. Charging for business plans, access, etc. There are so many of them. This company is doing nothing wrong as a business. It is just wrong for you to do business with them. Most will spend money and get zero return.
What I saw from this show is a company that charges 6K and equity for a 25K investment of which they supply all these lawyers, accountants, and web site that you can spend it on.
Don’t do it. Go to 99 designs and get a logo. go to elance and get a web developer, lawyer and accountant. Get a job and save some money, 25K is nothing. nothing.
But most of all, remember there IS NO FREE LUNCH. If you are a marginal business person with a marginal idea, invest in yourself, get your learn on, and stay away from fee based shills. Friends you pay for are not what you want.
Good Luck and keep watching this show. It is an amazing look into start ups. We are lucky to have such a resource.
Jason,
You said you would get involved with Keiretsu if they dropped their fees. Were you serious? Have you seen their chapter for LA/Orange County? It could use some help. Or launch Open Angel Forum, soon. Hook it up pleez!
I find it not a little ironic that Chris says there is no free lunch, but also recommends 99 Designs where hundreds of designers invest thousands of hours for the hope of “winning” a design contest. Talk about walking on the backs of others. How about spending money on a designer instead of freeloading off designers’ backs?
[...] In the US there is a potential war brewing between angel investment networks and entrepreneurs. [...]