VVC’s are two things
1 – Super fans of innovation
2– mini venture capitalists – with a powerful influence
Their activities are the lifeblood of 7x because they are so integral to both the Startup Game and the vVC game.
The best way to explain what a virtual venture capitalist is to make sure you understand what a regular venture capitalist does.
Venture Capitalists are usually joined at the hip with startups because their investment capital is so vitally important to launch and to grow. They’re always on the lookout to invest in the next great idea because they intrinsically understand their investment has been the rocket fuel – propelling great ideas into becoming great companies. When investment capital intersects with the right ideas, at the right time, the rewards are out of this world. Unfortunately, it’s not as common, or as easy, as you might imagine.
Statistically, VC’s get it wrong about 80% of the time, losing their investment, with a 0% return. They get it wrong mostly because there isn’t a good system to vet startup companies. In a later video we’ll discuss how vVC’s can help this dilemma as well.
About 20% of the time VC’s get it right, with a return robust enough to justify the 5-10 year bumpy ride.
VC investing has long been a playground reserved for the wealthy. Yes, they are “Sharks,” in the “Shark Tank” way of thinking, but if they aren’t feeding on young and up and coming companies, they will be belly up in the very near future. Startups may think the equity VC’s require before investing is disproportionate, but it’s the nature of the beast… until now!
Now that you understand what VC does, a vVC’s does pretty much the same thing, but they do it over social networks, and they do it minus the sharkiness.
Fan concept
The general public has a better perspective to size up the potential of a company than the uber wealthy does, because the general public are the ones who are using the products. To this end, we are enlisting the public to become Virtual Venture Capitalist. These are not “high dollar”, “one big firm” VC’s, but a whole bunch of “just a few dollars” vVC’s, aimed at identifying, funding and advancing the best startups.
For any relationship to work well there has to be benefit for both parties. The startups are receiving a gigantic benefit from the vVC’s because they are being vetted and then rewarded for their successful performances, all funded by vVC activities. The other side of the relationship is that the top performing vVC’s can get a return on their entry fee.
As a vVC, you identify start-ups that you think are cool, or that you want to see succeed, and you put your support behind them in the form of a weekly roster (there is a whole video on how to create your roster). Where a VC works with lots of money, A vVC uses as little as a five dollar roster entry fee, but is joined with a gigantic social network of other vVC’s to promote, support and finance startups that are going places. If a vVC’s is good at identifying and promoting emerging companies, they can even make up to a 7x return each time they play the game. This happens every seven days, not every 5-10 years.
At the beginning of this video, we said that vVC’s are the lifeblood of 7x. Here’s why. The fees that are paid by all the vVC’s are all combined into one big funding pot. These funds are used to perpetuate game play, pay vVC earnings, and just like VC’s – provide hard-to-come-by seed capital for startups.
If startups were athletes competing in a sporting game, vVC’s are the superfans of those athletes. vVC’s identify and support the best startups and propel them to the next level of competition.
The revolutionary power of the weekly vVC games is
- 1. It provides a vetting system for startups – weekly competitions identify companies that belong in the big leagues
- 2. vVC’s get a potential return on their entry fee every 7 days
- 3. vVC’s contribute to the direction of the startups
- 4. for the first time ever…vVC’s provide seed capital to startups without diluting startup’s equity
- 5. Lastly, we’ve all felt social networks could do much more than just likes. 7x unlocks the power of a social network and allows you to flex your muscle and launch next gen companies
Just like a sporting contest, the vVC game is competitive. If you’re ready to compete to win – to get a return on your entry fee – promoting the startups you’ve selected on your roster is critical. You do this by inviting other vVC’s to join with you, and selecting the startups you placed on your roster for that week.
You can do this with your friends, as work groups, high school classes… whatever. Make it a game, because it is. Turn it into a weekly party.
Don’t think this is fantasy. This is reality fun, using startups and your social media.
We’ll teach you more completely how to promote the startup on your roster in the next video. Just know that funding your roster, and promoting the startups on your roster are critical to your vVC victories.
Most of us waste too much time scrolling and liking posts on social networks. 7x gives you something valuable to do… using the same scrolling finger you already use. Now we can like and support innovators that are out there trying to improve the world. By using your social network to support startups – you are literally making the world a better place by funding innovation.
We’ve actually given this a name. Social capitalism. In its simplest form, Social capitalism combines the time tested principles of capitalism with the reach of social media, with the intent of funding the next great business ideas.
Social networks are fantastic for staying connected. Now we can stay connected and improve the world – elevating social media to a higher cause.
As a vVC you are providing an invaluable service to startups, and you could actually make money doing it.
On behalf of 7x and startups everywhere – a big hearty thanks!
Game 2 is the vVC Pathway) is for people who believe they have an ability spot the next great ideas, before they emerge as the next great companies. We call participants who play Game 2 vVC’s, or virtual venture capitalists.
But wait there’s more…If a Startup resonates with vVC community, they can obtain not only the funding to launch, but also receive mentorship, branding, the exposure, the customers, the fulfillment all in one stop – all because of a bunch of vVC’s are playing a game on the 7x platform. – move to start up
In fact, there are no strings attached to the money vVC’s provide to Startups.
We called vVC’s mini venture capitalists. If a VC is willing to invest in an idea, do you also think they are willing to promote that company? Of course, they are only helping themselves to succeed. The same is true for a vVC.