Defamation notice threat: Pitching in India
Second meeting with the guy, thought his outlook might improve because we had better numbers than the first meeting (few months ago). Didn't even remember the first conversation, or our business, didn't do any research on our startup or industry before the meeting. Kept forcing opinions on me instead of listening, same as the first meeting.
Extremely rude and a waste of time. He said many things no founder should say, that too for another founder.
(Pitching is difficult as is, rejection is common and it's very easy to get demotivated)
When I said I'll share my experience with other founders and startups so they don't engage with that platform, got a reply saying they'll send me a defamation notice if I do, and will also tell other investors in the community that we are doing this startup as a "hobby" and no investor will come onboard.
It's amazing to see the kind of arrogance some people have, especially in the investor and VC network. Would have loved to name and shame him but I have better things to do than to get into petty court cases with assholes.
Fellow founders, please be very careful and choosy with who you talk to about your startup's fundraise. Indian VC ecosystem is mostly a circlejerk and a shitshow. You're better off raising from friends and family and even individual angel investors than trying to bargain with devils in disguise.
I will most likely stop pitching for investment altogether and focus on growing my profitability than waste time convincing idiots who'd rather throw money on pitch decks without an MVP and startups without PMF, revenue or profitability.
/endrant
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Fuck the defamation notice. Don’t take shit from anyone, if someone crosses their line, reply to them then and there, so that you never think about that again.
VC and angel market is big in India now. No one has full control of the full ecosystem.
This is not Bollywood and there is not Salman khan and Karan Johar.
Here even fraudsters are getting second chance. Keep building.
I did give him a fitting reply after the meeting itself, which is why he seemed to have gotten scared of a "hobby" startup founder's honest feedback and threatened me.
But yes, VC ecosystem is much like Bollywood. Everyone knows everyone and talks to everyone.
Name the brat. I'll protect you.
@JadeArgent I have seen VCs preferring aggressive and confident founders. That threat means nothing but coming from an immature wanna be.
Maybe that was my fault, being polite calm and respectful. He's also much older so itna toh banta tha.
But yes, done taking shit from people who don't know jackshit about me or my work.
हाथी चला बाज़ार, कुत्ते भौंके हजार.
I know its demotivating, but now you know who not to approach!
आप उसे अपने जहन से निकाल दे।
Your better numbers show you aew on a good path! All our best wishes to you!
Let us know how we can help!
Thanks sir, appreciate it. Would love to speak with angel investors who are interested in doing small cheques especially in B2B2C startups (we are bootstrapped, less than 10 people, 35+ MNC clients, profitable). Our pre-seed round is 50 lakhs, have a few verbal commitments so far. If you know anyone who might be interested, please let me know :)
My experience with major VC funds and platforms has mostly been disappointing, so would like to avoid them.
Can we connect. I am at 4sushant@gmail.com.
Will help you as much, either by small funding on my own or by connecting.
In my opinion, just as a fellow friend, dont talk shit back to VC. Most of them are velle enough to hurt you in the short term
Name and Shame, no assholes. As it is its become a club. They become demi gods. And facilitate fraud... see a certain VC has accounting frauds in most of their investments.... they are just defrauding the poor investors in these funds
Name and shame. Fuck the defamation notice. My legal will fight for you. Call out these people. They think they’re demigods.
Name and shame to save other start-ups falling into his shithole
Such a sad state of affairs. I've been wanting to get into VC for a while, would it be possible to share which stages the fund invests in? Want to avoid in that case 🥲
Fuck this guy and VC elitism bullshit. But still always consult a lawyer when given a legal notice.
Wasn't actually given a notice. More like a warning in text messages.
