From: Ramez Naam (mez@apexnano.com)
Date: Thu May 01 2003 - 13:26:39 MDT
From: James Rogers [mailto:jamesr@best.com]
> [much stuff deleted]
James, I found your last post interesting but rather abstract.
What concrete approach, if any, would you suggest Eliezer / SIAI use
for raising the funds necessary for the FAI project?
> It is easier and faster to build a reputation that is convertible
into
> capital in the business world than it is to make money directly.
Pardon? I don't think I understand this. Or if I do, I don't agree.
I've pitched a business to hundreds of investors. I've been an angel
investor in pre-VC startups myself. In the business world you make
your reputation primarily /by/ making money, either for yourself or
someone else.
The #1 thing that an investor wants to see in an early stage company
is a team that's made oodles of money for other investors in other
companies. If you have that, you'll probably get funded. If you
don't, it's a much harder battle (especially right now).
In any case, I suspect Eliezer has already considered and discarded
the approach of funding his research through a company that makes
sellable products. It's not an easy road. I'm sure Ben could tell us
all about the challenges of balancing what customers want right now
with your own long term goals for the technology.
cheers,
mez
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