Macaluso LLP

These investors rejected Steve Jobs. Paradoxically, they all "funded" him as a group... These lessons remain relevant today, just as in 1976 when Apple was a fledgling company ?? 1. Tom Perkins and Eugene Kleiner (Kleiner Perkins) refused to meet Jobs. 2. Bill Draper dismissed Jobs and Wozniak as "arrogant" after an associate's visit. 3. Pitch Johnson doubted home computers, asking, "Are you going to put recipes on it?" 4. Stan Veit rejected Jobs' $10,000 offer for 10% of Apple, mistrusting Jobs' appearance. 5. Nolan Bushnell declined to buy one-third of Apple for $50,000 but introduced Jobs to Don Valentine, founder of Sequoia. 6. Regis McKenna refused to design Apple's commercials for a 20% stake, saying, "20% of nothing is worth approximately nothing," but also introduced Jobs to Valentine. 7. Don Valentine was skeptical but guided Jobs on management and marketing. Valentine introduced Jobs to three contacts; Mike Markkula, the third, saw potential in Wozniak's design and invested $91,000 for 26% of Apple, becoming its first angel investor. Markkula convinced McKenna to help Apple with publicity, leading to the creation of Apple's iconic logo. Markkula persuaded Venrock's Hank Smith to invest $300,000 for 10% of Apple. Eventually, Don Valentine invested a small portion, believing his presence on Apple's board would be beneficial. LESSON #1 - No one funded Steve; the network did! His perseverance and connections were key to Apple's early success. Read full story in my newsletter -- Shoutout to Angelos Georgakis for the story

New data - this time for emerging VCs! Our first ever VC Fund Performance report is now live, with data up through Q1 2024. Carta serves more than 3,000 venture firms across many categories, so we’ve narrowed this analysis in a few ways to make it more impactful. Only U.S. funds are included, and all included funds are direct venture investors (as opposed to fund of funds). Funds must have been in vintage years 2017 through 2022. Each vintage year includes at least 120 underlying funds (and far more in most vintages). We believe this represents a dramatic expansion of the public data available for small VC fund performance. Note that this report does include some data from funds over $100 million as well, a traditional delineation point between emerging and established managers. ???????? ???????????????????? ? ???????? ?????????????? ????????????????????: Funds in the 2022 vintage have deployed about 43% of their committed capital at the 24 month mark, the lowest share of any analyzed vintage. Prior vintages ranged from 47%-60% after 24 months. ?? ? ???????????????????? ?????????? ??????????????????: 30.6% of companies that raised a seed round in Q1 2018 made it to Series A within two years. Only 15.4% of Q1 2022 seed startups did so in the same timeframe. ?? ? ?????????????????????????? ???????? ???? ?????? ???????????? ??????????????: Less than 10% of 2021 funds have had any DPI after 3 years. This is obviously the first release of what we hope to be a quarterly deep-dive, so if you have ideas on how to improve it shout out in the comments! Also if you are a Carta Fund Admin customer, you can certainly read the public report – but you'll be receiving an exclusive, expanded analysis in your inbox this morning. We appreciate you ?? Link to full report: https://lnkd.in/g7Fy33Ya Data to the startup people! #venturecapital #VC #emergingmanager #fundperformance ?#startups

Top 10 accelerators that you can apply at a super early stage ?? 1. Y Combinator | Pre-Seed, $500k for ~10% 2. Entrepreneur First | No team, $250k for ~9% 3. South Park Commons | Pre-Idea, $1M 4. Antler Global | Pre-Seed, $250k for 9% 5. Sequoia Capital | Pre-Seed, Seed $500k - $1m 6. HF0 Residency?| Pre-Seed, $500k uncapped + 3% 7. Pioneer Fund | Pre-Idea, $20k for 1% 8. Pear VC | Pre-Seed, $250K - $2M 9. Techstars | Pre-Seed, $100k for 6% 10. Andreessen Horowitz (a16z) Start Program?| Pre-Seed. $500k - $1m Which one would you add to the list? Source: Yurii Rebryk Check my free newsletter for more insights: https://lnkd.in/dtifw4mC