[ExI] Kickstarter (was Re: RES: Written for another list)

[Eugen Leitl]

On Thu, Aug 02, 2012 at 04:49:42PM -0600, Kelly Anderson wrote:

> Kickstarter would almost certainly get you enough money to determine
> if there is an error in the math. And if there isn't, and you can
> prove it with current technology, you won't be able to beat off the
> venture capitalists that will be beating down your door.

Are we even living in the same universe? Your prototype would
take two-digit MW radiant output, and an array of optics
to track. If you're really frugal, a few 100 MUSD
should do. And then you'll get a toy that makes it
maybe 10 km high.

And of course the next step would involve a maglev
track, and 1-2 orders of magnitude more power. 
Notice that you're competing with all the launch systems
in the world, which have started getting mightily
cheap lately. 
 
> The key for that first round (in addition to proving the concept in
> more concrete terms) is to fill out an executive suite with key
> players that have previous experience (and success) with making money
> for venture capitalists. The due diligence of a venture capitalist is

Have you noticed that SpaceX is not run by VCs?

> nothing compared to the due diligence that these guys will do on you
> from inside your company... If those smart first business people
> believe in your story after a few months of kicking it around, then
> the venture people will believe it too.
> 
> Don't be an idealist, hire people with a history of successfully
> dealing with venture before. Preferably in the energy arena. Look for
> a venture fund that is focused on energy, preferably green energy (if
> such a fund exists), then look for the big successes in their
> collection of companies, and send a professional head hunter after the
> executives in those companies. Be very aggressive in hiring those
> people, and if you succeed in hiring someone that the venture people
> have made money off of before, then you're in!

In aerospace, worst advice ever.
 
> Don't try to be the president of this company yourself. You just be
> the technology guy. Stay humble, the VCs like that.

Sorry, but you're out to lunch. Way powerful stuff you've been smoking.