26 Quotes by Gil Penchina

Any ICO going forward that doesn't use a 'Ticketmaster-style' queueing engine is clearly trying to ruin the ecosystem.

When I participate in a Series A deal with VCs, entrepreneur-friendly terms go out the window. VCs remain attached to age-old traditional industry terms. 'Ratchet,' 'carry,' 'vetoes' - you name it.

While seed deals have gotten easy, Series A negotiations still often feel like the death of 1,000 cuts.

Startups are all about breaking the rules and changing the 'natural order' of things. So let's do that for Series A terms.

You're under tremendous pressure, and everyone needs you to be perfect all the time, and that often creates a perverse incentive to not tell the truth. Please remember - when you get caught not telling the truth, it's over.

I was one of the early folks at eBay, and by 1999, it was completely overrun by consultants from McKinsey, Bain, and BCG. It went from being a cool, fun startup to an MBA factory.

There are lot of ways people get non-economic payback - learning, networking, and relationships. These drive most angels more than the money.

A mistake I've made is investing in my idea rather than the entrepreneur's. Sometimes I'm excited about an idea that is similar to the entrepreneur's idea - but not the same. A smart entrepreneur will convince me it is the same, until I write a check!