AC/DC VC

AC/DC is back. The new album, Black Ice, has some great cuts on it. And after seeing them in concert on Tuesday night, I can tell you that they still rock. If you have a chance to see them live don’t hesitate pay what you gotta pay to see them. You won’t be disappointed.

While Rob Hayes and I may have been the only VC’s in the audience On Tuesday, I started wondering “What can AC/DC tell us about VCs and entrepreneurs?” Here’s a lighthearted take:

For Those About to Rock (We Salute You) Entrepreneurs are the rock stars of the tech world and starting a company has never been easy. It takes a tremendous amount of courage do so so. At First Round we still think it’s a great time to start a company (we remain active looking for and investing in early stage opportunities), doing so in the face of the current macro-economic climate takes a little extra conviction. To the entrepreneurs with whom we meet everyday, more than ever, we salute you.

What Do You Do for Money Honey Pitching skills are more important than ever. Notice I said, pitching skills, not Powerpoint skills. Entrepreneurs should be prepared, know your vision, know your market, know your strengths, articulate why you want funding, what milestones you will achieve / questions you will answer, how long it will last. Be succinct. And remember that every interaction with a potential investor is a chance to make an impression. Whether it’s good or bad is up to you. Do it well and you may leave potential investors Thunderstruck. (See Also: Shoot to Thrill)

You Shook Me All Night Long There’s a lot to be said for the opening line of this song… “She was a fast machine.” In early stage businesses, everything has to happen faster. Proving or disproving the thesis, adapting the product to user feedback, and, in a worst case scenario fail faster and cheaper. And, of course, when communicating with a board or management team, the “Telling me no lies” line is music to my ears.

Back In Black Back in black?!?! Forget about getting back, just get in the black! And stay there! (See Also: Money Talks)