It’s the process I don’t trust because I know how venture capital works and I’m pretty sure you do too (at least I hope you do or you’re in for a rude shock. I don’t say that sarcastically either, I’ve actually met founders who didn’t know what they were giving up by taking VC.)

So, assuming you know how VC works, what’s the return on investment your investors expect for $8M? In other words, what’s the exit you promised them in exchange for $8M?

#ventureCapital #vc #penPot

OK, so I just got an email saying @penpot just got $8M in series A.

Last I raised concerns about their funding (mastodon.ar.al/@aral/107213277…), @diacritica assured me “you won't see any VC” (fosstodon.org/@diacritica/1072…)

Well, this sure looks like VC to me.

Folks investing $8M are going to want a billion-dollar exit. So who’s that exit going to be to (Adobe’s already full, is Google hungry for a design tool?) Or do they plan on going public?

#vc #ventureCapital #BigTech #exits #openSource #penPot

diacritica (@diacritica@fosstodon.org)

@aral@mastodon.ar.al @penpot I think I know what happened here? the "ventures" term misled you, which is understandable but if you take a look at our website kaleidos.net you won't see any VC.

^Fosstodon

Accused of Cheating by an Algorithm, and a Professor She Had Never Met

inkl.com/a/JJmvortMRAM

#ai #bias #racism #startups #vc #BigTech #computerSaysNo

Accused of Cheating by an Algorithm, and a Professor She Had Never Met

A Florida teenager taking a biology class at a community college got an upsetting note this year. A startup called…

^inkl

"And even though the internet is already mostly bots, we’re only just beginning to see the Bot Age take shape. According to the market-research firm CB Insights, more than a dozen venture-capital-backed bot startups raised their first round of funding last year."

- #AdrienneLaFrance, 2017

theatlantic.com/technology/arc…

#VC #VultureCapital #CBInsights #bots

The Internet Is Mostly Bots

More than half of web traffic comes from automated programs—many of them malicious.

^{Adrienne LaFrance (The Atlantic)}