Cold Read – MeliorAI – a set of AI models used to help organise high-volume documents

Oh dear. Oh dear oh dear oh dear. #founders!!! NEVER EVER DO THIS! I felt compelled to create a cold read based on an unsolicited email from one of those ‘fundraise broker companies’. Now, a good broker company – if the founders are just starting out – can be a helpful thing. I’m not anti them. But I feel I can speak for most investors who are also founders themselves that – 9 times out of 10 – these brokers come across as mindless and can permanently poison the startup they represent’s reputation. In this cold read (which I’ve left largely unedited, deliberately) I want to show you how an investor like me reacts to these emails, and how an investor like me genuinely reads the deck (if it ever gets that far). You’ll notice how little of the deck I actually pay attention to (because I’m hunting for a narrative). You’ll also see how important it is to have a deck that passes the ‘flick test’ (because it allows me to go back/forward through the deck). But most importantly, you’ll see just how damaging to the founders’ credibility these untargeted, unsolicited, mindless ‘fundraising companies’ can be. This isn’t an attack at all on the startup (but their deck does need work). The founders themselves look mighty credible. It’s a reaction to the *way* I got hold of this deck, and a demonstration of how bad the setup was. My tips if you feel you need to use an investment broker of some kind? 1) Get references from recently funded companies they have helped 2) Ask them to send you a vetted list of opportunities they want to send your deck to BEFORE they send them 3) Every week, ask them for a report on their outreach activity, including the stats they get from their respective CRMs 4) Be sure you have met the ACTUAL person who will be doing the outreach so they fully understand your company 5) NEVER EVER EVER pay an upfront fee. Good brokers understand their value and are prepared to invest in their own success/reputation 6) If it doesn’t work out, for honest and fair reasons, DO compensate your broker. You’re going to need them again at some point. There are two advisory firms I think the world of if anyone needs a recommendation. In the UK, Eleven Advisory – founded by Cliff Fluet. In the US, Lark49 founded by Benji Rogers. Both are seasoned operators, experts, deeply networked, and never ever send out unsolicited trash like this. …. I’m expecting to make a few enemies here. SWORDS OUT, EVERYONE! #fundraising #venturecapital #pitchdecks #pitchdeck #angelinvesting #founders #startups #startupadvice #founderadvice #fundraisingadvice #funding