Quotes by Gil Penchina - Page 1

Momentum begets momentum, and the best way to start is to start.
Gil Penchina /
Best
Begets
Best Way
Momentum
Start
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Mobile was Internet 2.0. It changed everything. Crypto is Internet 3.0.
Gil Penchina /
Changed
Internet
Mobile
Crypto
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I started angel investing because I like hanging out with entrepreneurs.
Gil Penchina /
Investing
Entrepreneurs
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Focus. It's powerful to do just one thing and pour all your energy into it.
Gil Penchina /
Focus
Just One
One Thing
Just One Thing
Pour
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Along the way, I learned the key to launching a company. It's all about storytelling.
Gil Penchina /
Launching
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When trying to start a company, your enemy isn't criticism, anger or insults. Your enemy is apathy.
Gil Penchina /
Anger
Apathy
Criticism
Enemy
Insults
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While seed deals have gotten easy, Series A negotiations still often feel like the death of 1,000 cuts.
Gil Penchina /
Deals
Cuts
Negotiations
Seed
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Buying a banner, you have no control whether ten different people see your ad once, or one person sees it ten times.
Gil Penchina /
Banner
Buying
Ten
Ad
Your People Control
Different People
Ten Times
Control People Your
No Control
Sees
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Any ICO going forward that doesn't use a 'Ticketmaster-style' queueing engine is clearly trying to ruin the ecosystem.
Gil Penchina /
Clearly
Ecosystem
Engine
Ico
Ruin
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Startups are all about breaking the rules and changing the 'natural order' of things. So let's do that for Series A terms.
Gil Penchina /
Natural Order
Breaking
Startups
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There are lot of ways people get non-economic payback - learning, networking, and relationships. These drive most angels more than the money.
Gil Penchina /
Networking
Angels
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In the U.S., Wikia has content sponsorships with top brands, including Blizzard Activision, Sony, Microsoft, Electronic Arts, ABC Television and others.
Gil Penchina /
Blizzard
Brands
Microsoft
Sony
Abc
Electronic
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I've been lucky enough to be involved in a number of great startups, including eBay and Wikia as an entrepreneur and LinkedIn and Paypal as an investor.
Gil Penchina /
Ebay
Entrepreneur
Including
Involved
Linkedin
Lucky
Paypal
Number
Investor
Startups
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Now you can create your own Q&A site and be recognized as an expert on any topic you're passionate about in a way that is fast and easier than starting a new website.
Gil Penchina /
Passionate
Site
Website
Expert
Recognized
Topic
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Whether someone wants to learn the words to a new Lady Gaga song they heard on the radio or to verify the lyrics to 'Blinded by the Light', the LyricWiki community delivers.
Gil Penchina /
Blinded
Gaga
Radio
Verify
Lady
Lady Gaga
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It is obvious that the Internet has become such a video-driven entity. With broadband becoming ubiquitous, viewers and advertisers are looking for professional-quality videos.
Gil Penchina /
Becoming
Broadband
Entity
Internet
Obvious
Advertiser
Ubiquitous
Videos
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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.
Gil Penchina /
Consultants
Ebay
Factory
Overrun
Startup
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It's clear to me now that Ethereum is the new currency of the Internet. It's way ahead of where Paypal was in its day, and it's much more exciting to its customers than Paypal ever was.
Gil Penchina /
Clear
Currency
Customers
Exciting
Internet
Paypal
Ahead
Me Day New
Ethereum
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Ethereum is enabling a new form of financing in ICOs that is like a massive gravitational pull - dragging every entrepreneur with a sense for opportunity into its blackhole-level gravity.
Gil Penchina /
Enabling
Entrepreneur
Financing
Massive
Dragging
Ethereum
Gravitational
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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.
Gil Penchina /
Series
Traditional
Window
Age-Old
Attached
Carry
Participate
Terms
Remain
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All I do is talk to people, email people, take meetings with people, and do interviews. Then I work at maintaining relationships with my investors because the trust people place in me is my business model.
Gil Penchina /
Investors
Maintaining
Trust Work Business
Business Model
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Crypto today is a libertarian paradise. If you send your money to the wrong place, it's gone. If you send it to a merchant and don't receive the goods, you have no recourse. This is cash. Treat it as such.
Gil Penchina /
Cash
Goods
Libertarian
Paradise
Recourse
Crypto
Merchant
Receive
Send
Treat
Wrong Place
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For merchants, it is an amazing opportunity. Compared to Paypal, crypto has no credit card fees, no charge backs, no 'Oops, we decided to hold your cash for 3-12 months while we investigate something we can't disclose.'
Gil Penchina /
Amazing
Cash
Credit
Credit Card
Decided
Fees
Merchants
Months
Paypal
Backs
Card
Charge
Compared
Crypto
Disclose
Hold
Investigate
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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.
Gil Penchina /
Caught
Please
Telling The Truth
Tremendous
Creates
Incentive
Perverse
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When I first started as an angel investor, I was excited to start investing in startups - but I didn't know much. I couldn't tell the good ones from the bad; I didn't understand all these venture capital terms, so I would invest somewhat blindly.
Gil Penchina /
Investing
Venture
Venture Capital
Blindly
Capital
Invest
Somewhat
Good Ones
Startups
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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!
Gil Penchina /
Convince
Investing
Check
Similar
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