It’s The Angels’ Time – Opening Keynote Angel Capital Association
San Francisco, May 6, 2010
This speech sparked some fascinating debates and received the highest audience evaluation at the conference.
The PowerPoint for this talk is available here.
- The economy has changed – lots doesn’t work anymore.
- But there is good news: the lower cost of growing startups, big companies have huge cash reserves and are spending more on acquisitions than R&D
- There are many buyers for companies in the $10 to 30 million range
- Companies are often being sold just two or three years from startup – its often the best time to sell
- This is a golden era for entrepreneurs
- Successful investing requires two things: investing right and exiting well
- What happened to big M&A exits? The dirty secret is they often didn’t work out for the buyers.
- Selling for under $20 million is easy – here’s why
- Why this is happening now – the view from the Fortune 500 and Google as an example
- Big companies have quietly become the VCs worst competitors
- Angel syndication – a fascinating, and important, new trend
- Angels finance 27 times more startups than traditional Venture Capital funds
- Startups have created all of the new jobs in our economy for the last thirty years
- Our 21st century economy – what’s actually working
- The new angel model and why angels are much smarter today. The professional angel investor
- What we are doing here is important and what you can do to help
You can also watch this video series on YouTube, starting with Part 1 here.
Many of these lessons are described in my new book on selling businesses for entrepreneurs and angel investors – www.Early-Exits.com.