A mistake I’ve made is investing in my idea rather than the entrepreneur’s. Sometimes I’m excited about an idea that is similar to the entrepreneur’s idea – but not the same. A smart entrepreneur will convince me it is the same, until I write a check! Gil Penchina Read Quote
There are lot of ways people get non-economic payback – learning, networking, and relationships. These drive most angels more than the money. Gil Penchina Read Quote
I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It went from being a cool, fun startup to an MBA factory. Gil Penchina Read Quote
You’re under tremendous pressure, and everyone needs you to be perfect all the time, and that often creates a perverse incentive to not tell the truth. Please remember – when you get caught not telling the truth, it’s over. Gil Penchina Read Quote
All I do is talk to people, email people, take meetings with people, and do interviews. Then I work at maintaining relationships with my investors because the trust people place in me is my business model. Gil Penchina Read Quote
Crypto today is a libertarian paradise. If you send your money to the wrong place, it’s gone. If you send it to a merchant and don’t receive the goods, you have no recourse. This is cash. Treat it as such. Gil Penchina Read Quote
While seed deals have gotten easy, Series A negotiations still often feel like the death of 1,000 cuts. Gil Penchina Read Quote
Any ICO going forward that doesn’t use a ‘Ticketmaster-style’ queueing engine is clearly trying to ruin the ecosystem. Gil Penchina Read Quote
I’ve been lucky enough to be involved in a number of great startups, including eBay and Wikia as an entrepreneur and LinkedIn and Paypal as an investor. Gil Penchina Read Quote
