Allegis Capital says no to 2,000 companies a year. Since I was on stage at TechCrunch 50 seeing a bunch of startups, I wanted to have a conversation with one of the top venture capitalists in the world. Here’s the founder of Allegis Capital, Bob Ackerman, who gives me a 34-minute rundown of his view of what’s happening in the capital markets today.
My best question? “How do you earn a no?” After all, his firm says no 2,000 times a year. His answers are fun (that part of the interview starts at about 19 minutes into the video). After the camera was off he told me the best way to earn a no is not to try at all.
If you’re thinking of starting a company you should listen to this video, it’ll help you get your plans ready so you don’t hear “no” when you ask for capital.
I also ask him why, when companies like SmugMug are doing well and haven’t taken venture funds, should I take VC at all to build my company?
Oh, and don’t miss why he turned down Akamai. That’s a hillarious story, starts at about 25 minutes into the video.