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What kind of predatory investor asks founders to hand over their algorithms before offering a term sheet?!

I wish the anon founder would consider outing the people in question: http://qr.ae/KplIm

And somebody needs to create theFunded 2.0 so we can keep track of the slime.

  • I think you’re confusing handing over with due diligence. The investor may just wanted the startup to prove that they in fact had a proprietary algorithm.

    I HAVE worked at a startup that boasted to the press, partners and investors that they had a “big data” algorithm that was in fact bullshit.

    Reply

  • Due diligence happens after a term sheet is signed but before the deal is done- and even then, I wouldn’t hand anything over.

    You should be able to prove that your algorithm works without handing it over.

    Reply

    • Exactly! The post at source clearly states that the investors wanted the algorithm, which is rubbish. All that’s required is a demonstration and if the investors still don’t believe it, they they should walk away. It’s either you trust the team or you don’t.

      Reply

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