As Arthur Rock, a venture capital legend associated with the formation of such companies as Apple, Intel, and Teledyne, states, “I invest in people, not ideas. If you can find good people, if they’re wrong about the product, they’ll make a switch, so what good is it to understand the product that they’re talking about in the first place?” And to quote Thomas Edison, “genius is 1% inspiration and 99% perspiration.”
So, does the idea really matter? Are business plans even relevant today? Are ideas worthless?
Quite simply… YES.
We believe that investors and companies should invest in talent, and not ideas, especially those ideas laced with greed and profit. There are companies already out there like Ooga Labs who “gives you the best of a start-up and a venture capital firm. You get the excitement, responsibility and learning of a startup plus the safety of having a portfolio of ventures. In terms of learning, you’ll probably see about eight “company starts” in four years, compared to seeing one at a traditional start-up, or zero if you work for a big company.” The teams at Ooga Labs are allowed to work on more than one idea at a time. The idea is NOT the King.
So, imagine a business model where you could incubate talent, and not ideas. It’s not a new concept. This essay from 1998 reiterates, “the best venture-capital organizations now incubate people, not ideas. These people work as venture capitalists until they see an idea they like, and then they go run it with financing from their erstwhile employer.”
And that folks is where we’re headed. We’re building a new business model that invests in talent and passion, followed by ideas and profit. Like a record label, we find super-smart people and give them the resources, connections and a collaborative structure they need to turn their ideas into successes. In other words, we remove the roadblocks that keep the best and brightest from executing their world changing ideas. In a nutshell, All Day Buffet is an incubator for social innovation. We connect, develop, and launch purpose-driven ventures.
Excited? So are we, so stay tuned for more details. We are oh so close to launching!
8 responses so far ↓
1 Posts about Investors in Startups as of January 16, 2009 | The Lessnau Lounge // Jan 16, 2009 at 3:03 pm
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2 bryan kovacs // Jun 8, 2009 at 5:02 pm
bungieboarding.com a new way to skateboard for the 21 century invented by me…bryan kovacs /eric white/pro skaters…looking for capitol/the kids are screaming for are bungieboard…help…this is hugh…
323-710-8466…i also have cutting inventions for …cell phones/music/transport/…other…im a idea man…
3 Louie Diaz (CEO) of Hooligan Ent. // Oct 22, 2009 at 1:37 pm
I have an idea that can make millions of dollars. All i need is a beleaver and a investor. My email is above and my phone number is (314)484-3082 I also write hit music MONEY IS THE MOTIVE!!!!
4 Investing in Superstars Pt. 2 | Michael Karnjanaprakorn // Nov 5, 2009 at 3:53 pm
[...] take it a step further. Let’s say that someone started a $100M venture fund to invest into people, not ideas. How would that revolutionize the investment community? How many smart, creative, innovative, [...]
5 nate // Feb 16, 2010 at 4:48 am
wanna see a real web site and invention you can invest on……………go to http://www.hangtek.com way better than the “bungie” board
6 Fashion designer // Mar 23, 2010 at 3:33 pm
Hi,
I am a young talented young man. My dream is to own brand of clothing but not come with a rich family and so I need someone who is an investor wants to invest money in me. I’m confident of success and can be said that healthy and I do not doubt you. If you would let me find someone to write an e-mail: brandfashionline@gmail.com.
Thank you in advance.
7 Sun TV LIVE // May 13, 2010 at 6:00 pm
Thanks for posting this info. I just want to let you know that I just check out your site and I find it very interesting and informative.
Invest in people, not ideas
8 M.Riza M.Bawa // Aug 17, 2010 at 12:43 pm
i have gone through your net i find you have good concept .how afficiant are youll.i am also looking for a invester to invest in a ongoing gem and juwelry business.since 1988 in the business .garenteed returns.thanks .contact for more detales
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