The recent bankruptcy filing of WeWork, the shared office space company once valued at $47 billion, offers a sobering lesson for startup founders tempted by packaging traditional business models as earth-shattering ideas.
U.S. legislators are updating requirements for “accredited investors” — people or organizations that are allowed to invest in startups. The lifelong entrepreneur and consultant Michael Burtov explains how immigrant founders could benefit.
In essence, a board of advisors is more concerned with a company's strategic interests, while a board of directors focuses on advancing the interests of shareholders. This distinction seems subtle, but for many companies that originate outside the U.S. startup ecosystem, this can be quite a foreign concept. Lifelong entrepreneur Michael Burtov explains the difference between the two.
While standing out is undeniably crucial in a crowded marketplace, an excessive emphasis on appearance over substance is eroding the foundation of entrepreneurship. The lifelong entrepreneur, mentor, and inventor Michael Burtov explains how “peacocking” might be hurting your venture and the startup ecosystem.
To explain their technology, many startup founders have to reveal proprietary information. This puts their intellectual property at risk and sometimes leads to a loss in its value. How to manage the delicate balance of pricing your product and sharing information about it?
The recent collapse of Newchip, one of the world’s biggest accelerators, was a shock to the venture ecosystem. Bjorn Erik Hansen, founder and CEO at INTIEM, an AI-based SexTech solution, believes the organization's business model was an intentional deception. Just a few days before news of the bankruptcy became public, his Miami-based startup had said "no" to joining Newchip’s new cohort.
Tales about devious investors conniving to take advantage of aspiring entrepreneurs have been circulating in the tech community for a while. Most founders dismiss such stories as urban legends, but in fact, some VCs do steal ideas from early stage startups in order to boost their own struggling portfolio companies. Immigrant entrepreneurs, who have limited access to capital and are often overly eager to find an investor, should approach fundraising with caution, warns Michael Burtov, a star mentor and lifelong entrepreneur.
Accelerators assist founders with fundraising and help foster relationships with fellow entrepreneurs and mentors. But many also have toxic cultures, unrealistic expectations, relentless focus on fundraising, and simply waste your time with unproductive activities. This begs the question: Are accelerators bad for you? Mike Burtov, a star entrepreneur and founder, reflects on the dark side of the innovation ecosystem in the U.S.
The recent collapse of Silicon Valley Bank has sent shockwaves across the startup world. How will panic in the VC industry impact international founders raising capital in the U.S.? Mike Burtov, a star entrepreneur and the author of Evergreen Startup, believes it’s time for founders to get out of the high valuations trap.