Jon: Yeah. So Peter and I were talking about the last podcast we did a few minutes ago because we record these in series. Surprise is that you, you don't drive an hour and a half to film each one and you don't wear the same thing all the time. No, the last podcast we did was feedback that a friend had asked a question about, and I feel like I give super honest feedback with, again, very little context.
Jon: I'm like, This person may never talk to me again. We did one podcast like that. It was about the fintech idea, and I waited three months after the lunch meeting to actually publish it.
Peter: And then he never talked to you again?
Jon: Well, no, I never told them what it was. I don't know if you listen to the podcast, but I'm just like, I don't want this person to come back and like, yell at me or yell at you. So. So venturecapital.fm www.venturecapital.fm. If you want to subscribe to any of our channels, TikTok, whatever.
Jon: All of the links are right there.
Jon: Okay, so this one, I got an email. When was this? This is right before L.A. Tech Week. And I brought it up to you, Peter, because I thought it was so ridiculous and so over-the-top. And you said, I think, let's go. That's a good idea. It's a good idea. So this is a founder. She lives in L.A. And basically what she did is she chartered a private jet from San Francisco to L.A. and I'll just read it says, Hey, Jon.
Jon: Company name is flying VCs and special guests from SFO to L.A. on a private jet. Details are here. Link, but direct email is better than signing up. Do you want to refer an investor for this experience? We have a couple of spots available. Cheers. Entrepreneur name. And I saw this. And just like this is so over the top.
Jon: But you think it's a good idea. I was just like.
Peter: I just thought it would be fun.
Jon: I just thought it was fun. Is it a good.
Peter: Yeah, Let's go up.
Jon: On a Friday, which means that's a good idea. Which means I'm like, maybe I'm thinking too close minded. I need to think bigger.
Peter: Yeah. What would it cost? What would it cost from, like, SFO to L.A. Private jet? Well, like 50 K or something?
Jon: Maybe. So next year for L.A. Tech Week Code base, we'll sponsor a jet. We'll get you Kickstart Alba. Who else will do short trips? Just they're back each day to make it super convenient.
Peter: I love it. I sleep in my own bed at night. It would be great.
Jon: I don't know. We would actually do for code base, but there we go.
Peter: So what the question is this good idea to.
Jon: As a senior, as a founder? Yes, I've seen this idea for people who are fundraising for their funds.
Jon: Which it seems like that worked really, really well. But as a founder, typically you want to be lean, you want to be scrappy. You've got, you know, individuals like Jason Go Kanis, who's complaining about people they invest in who are then like skiing for three months out of the year. Yeah, it's like, are you doing a startup or are you going to crush it or are you wanting to the easy life?
Jon: So what are your thoughts on this? I already shared my probably too much.
Peter: I don't know, look like it's kind of like a guerilla marketing tactic, right? If she can pull and some verses that she wouldn't otherwise have connected with. Right. And they're like, Hey, yeah, free a free trip down there right She now has their undivided attention for the whole flight down there, you know, couple hours, whatever, you know, 450 k I don't know.
Peter: Some people will easily spend 50 K and, and if she ends up raising, you know, 10 million bucks because of it.
Peter: Totally paid for itself.
Jon: So as far as money well spent. So yes, if it.
Peter: Were, do I think like she'll be like super successful at it. Probably not.
Jon: Project. It's a bunch of freeloaders who pretend to be VCs who are pretending.
Peter: Maybe, maybe not. Maybe, maybe not. I don't know. But that is true. Like the those super legit voices that are all billionaires, like they don't. They do like I already have a private jet. Thank you. I'll see you down there. Right. So maybe you're right. Maybe there's a lot of pretenders that get excited about.
Jon: It, cause I'd be curious how it actually worked out for her, But I think my biggest question is, do you see this as a negative signal? If one of your portfolio companies was doing this?
Peter: Probably a little bit, but I'm also like a little more conservative on that sort of thing, Right?
Peter: I'm kind of like, you should be eating ramen, you know? And, you know, you should like, instead of taking a big, fat paycheck, you should you should be getting as many equity, you know, percentages as possible. But I don't know. That's just my mindset. My mindset and how I would approach is like a I want to take a low salary and I want to take that money and I want to hire like two more devs, you know, and I'll, I'll make it up with equity, right?
Peter: so I don't know that this is kind of my bias, but I know other people that they make good arguments that, hey, you know, pay, pay your people really well and then they'll take bigger risks because, you know, they have that cushion, right?
Jon: So now what other crazy VC networking ideas have you seen? There's one. Lastly.
Peter: I guess Punchline is like, if the jet is effective and it works, I'm all in. If it's a publicity stunt or if it's like I. I heard about this other founder who, like, flew like the company spent millions of dollars basically to fund their vacation to Europe on a private jet like that would be a problem. Right. So, you know, like things like that, like I'd be pissed, Right.
Peter: But if it's like, hey, you know, we're like, we're going to do this thing. We're we're going to bring in like, our top customers, like, you know, like there are a bunch of companies that own seats on the floor of the Jazz, right? Or they have a box, right? And you could look at and be like, well, that's just kind of a waste.
Peter: But like they're bringing in clients and they closed deals and like, those sort of things. Yeah, I think, I think I think it makes sense.
Jon: But typically, those are not startups buying floor seats at the at the Utah Jazz.
Peter: I know you might be surprised sometimes. Maybe, maybe not Chicago, but I don't know. Yeah, it just depends. Like if, if, if the money's well spent and achieves a business objective, then by all means, go for it.
Jon: Shoot your shot. I think it'd be interesting. I don't know if he's raised or not raised. You know, it was his personal money or not, but to me, it's in like, a crazy shot. But then again, crazy. You know, you don't you don't win big by doing the exact same thing that everyone else is doing.
Peter: Yeah, that's right. That stands out right?
Jon: What other network? AVC Networking hacks have you seen people pull off crazy or.
Peter: Like, ways to meet VCs?
Jon: Yeah, because I see that's basically what this was.
Jon: How do I get my company funded? I'm going to Charter Private Jet.
Peter: Yeah. Look, I think there's, like, fun activities that entrepreneurs will put on right? They're just effectively the same thing, right? Honestly, though, like the thing that's a little bit tricky and I think the thing that makes this example tough is that if you're doing things that are a little it's like it just feels like it's a little much.
Peter: Little desperate, right? And so then it's just like.
Jon: Who sponsored the ski trip that you guys did last last year? What was it, Canada that sponsored it? They got a bunch of visas to come in.
Peter: yeah. I mean, Carter has sponsored events like that.
Jon: But that's a lot. But the difference.
Peter: With Carter, though, is that the VCs are actually customers because they're looking to sign them up for fund admin work and so forth. So fund admin work, and then also that like encourage them to get all of their portfolio companies as Carter clients. So it's like it's a little different. Like it's not like Carter was like, hey, we want to pitch all these VCs and raise money from them.
Peter: Honestly, I think the best way to just meet VCs is is to network into them, right? And ideally through like an entrepreneur that they like. We've talked about this on another episode. So like I think just kind of leveraging those networks, trusted networks where you can kind of ride the coattails of somebody else's reputation and to an intro to a VC is going to be the most effective way to do it or build something really fantastic and get the word out that you're building something fantastic and let the VCs come to you.
Peter: Right. Those are probably like the two more, more effective ways.
Jon: Yeah. All right. Well, let's wrap this podcast up.
Jon: You've never done a podcast in under 10 minutes, and we've got 32 seconds left.
Jon: It's actually it's under eight because the intro. Anyways, we were letting the first 2 minutes burn, which will be added off. So anyways, go to WW Venture capital that FM.
Peter: And listen to another one since this wasn't what this one was so short.
Jon: So short. Also, we really want to know what questions you guys have so you can reach us on tik-tok Instagram. If you have specific questions, we guarantee and know M.M. M.M. 80 not, you know, being anonymous, keeping your confidentiality.
Peter: But but please give us more questions because Jon is running.
Jon: Low like you could. You could message our running love if you're just starting my question. But for example you could say, hey, as an example, you know, we have a term sheet from this company. This, you know, this phone should be take it, not take it. Yeah. You know, it would be happy to chat with you and and give you feedback on what our thoughts are.
Peter: Or if you have any B.S. or entrepreneur gossip. We love that stuff.
Jon: F is good enough. yeah. And if it's a good enough feel, Peter might invest. That's right. All right. Well, thanks, guys, for watching Venture Capital Dot FB. Leave your comments below and we'll see you for the next episode.
