When a meeting with a VC goes bad (Jobloft)

Poking around, I found <a href="http://www.jobloft.com/blog/2006/11/22/jobloftcom-the-suns-still-shining-outside-the-den/" rel="nofollow">http://www.jobloft.com/blog/2006/11/22/jobloftcom-the-suns-s...</a> .. It's Jobloft's side of the story. Apparently the dragons wanted to invest $200,000 for 50% of the company. I have no idea if that's a good deal or not.

From their homepage:<p>"Using Web 2.0 technologies such as Google Maps, AJAX, RSS and tagging, you'll find the perfect job based on where YOU live."<p>This hurts me.

200k for 50%? That's crazy.<p>The professor was right on so many levels. That 200K wouldn't last three to four months. Rent, salaries, hardware, etc. <p>That said, the professor was slightly insulting, but I don't think his position was wrong at all.

The biggest problem is that this professor apparently didn't discuss how he thought the 200k was a bad deal beforehand with the founders. Or, if he had discussed it beforehand, the founders had decided it was still a deal they would like to proceed with.<p>Instead, he went ahead and torpedoed the deal without the founders consent. It certainly makes for good television, but I'd be pissed if I were one of the founders.<p>

'professor' comes across as a total dick to me. If he thought the valuation was too low, why didn't he say that instead of insulting people and pissing them off.

I was also a pitcher/presenter on this show, and the "Dragons" were some of the nicest VC's I've met.

Fascinating little encounter. It continues to seem to me that ego, and all the slings and arrows that're attached, is the number one crusher of creativity.

HAHAHA. Vintage grad student.

well that was entertaining

lol