lights, camera, jobloft
November 29th, 2006
A Canadian reader turns us on to a show called Dragon’s Den that gives money to start-ups. A job site called JobLoft was featured recently.
I’m amazed such a so-so idea gets the investors so jazzed. If nothing else, watch the last video.
(video, 7:37)
(part two, 5:15)
(no deal!, 4:54)
November 29th, 2006 at 4:09 pm
Hi Joel
What a great series of clips! Some comments from the other side of the pond……
I’m UK based and have recently been going through the investment process. Indeed friends suggested I even try the original, UK based Dragons’ Den. So naturally I was an avid viewer.
The first thing I’ll say is that this Canadian version is a damn site cheezier than the UK version. The dragons are also alot nicer! Indeed they would even get a grilling from one key dragon, Peter Jones, for not wearing a jacket!
Jobs by cellphone - ehhhhhh…..
However, one thing the dragons do have in common with the UK dragons is that they milk entrepreneurs for all the equity they can. Frankly I think this idea would get laughed off in the UK. They’d be sent done the stairs as quick as they came up it!
As for the last clip from the professor - well, I’d love to see Duncan Balentine respond to that! If I had the time I’d love to find some clips of the UK version. Then you’ll see a proper grilling by dragons……
Matthew
November 29th, 2006 at 6:28 pm
Too true, well said Matthew, saved me the effort! Maybe the clips show why America mocks the Canadians….
November 30th, 2006 at 5:53 am
Actually, I’ve got Canadian relatives I have never met.
I hope they are nothing like this….. ;)
December 6th, 2006 at 2:36 am
There is another Investment term that should never be over looked when seeking seed money… “dumb money”.
“Dumb Money” is pretty much what the guys at JobLoft would have been getting from the Dragons. They were being sold “Industry Knowledge”, but that’s not what they were only going to be getting “Business Knowledge”. Industry Knowledge is very expensive. Business Knowledge is much cheaper.
So, kudos to the professor, but dump him for his attitude… “those who do, do, those who can’t… teach”.
The Dragon’s seem genuinely interested in helping these guys get off the ground. They like the idea, and Get It. But the problem is, they have no knowledge of the Internet and especially Online Job board Market.
JobLoft is a great set of “Features”… easily duplicated within a couple of weeks… ohh, that’s right.. already been done.
One of the Dragons got really excited about this being a “First Mover” advantage… How could it be??? The guy even said he uses Monster for his own company. Get a clue!
My $.02….
JobLoft… get rid of your Professor. Bad Attitude at the wrong time.
It’s time to pay for some Industry Experience…
Call John Sumser… Save your 50% equity.