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New Jersey Investment Culture… Am I the only one experiencing it?

This has happened to me now three times over the last two months and leaving a weird taste in my month.

Our startup is a web and mobile app and we are getting ready to launch, lining up our marketing plan and resources accordingly. We are also raising our family/friend/seed round.

A set of “investors” approaches us, states we are cool and they are interested in helping. So far so good. Let’s send a basic deck.

They also happen to have a friend or side company what has a digital marketing business. Sure, we will talk to them as well.

Skip a couple of interactions and the conversation/flow goes along the line that the investment will be to pay for the friend’s business. So I have to give out equity and might be stuck with lousy execution on the marketing side.

This pattern has happened three times in a row and only with NJ-based investors. Is it me? Is it the culture?

Of course … we passed.

  • Good lord. You should cite specific examples from the other two occurrences. This is borderline fraudulent. I’m in the NY tech scene, which brings on NJ people frequently, and this sounds like you are either 1. Too naive to know when someone isn’t a legit investor 2. Are looking for investment in very wrong places.

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  • I have the answer to your question but in order for you to receive it I’ll need you to first give my business partner other business. My business partner will then give you the answer, in due time.

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  • It happens, not just in NJ. Some ppl think that they are being helpful, but often times they are not.

    If money is what you need, just ask upfront. If they want in, they gotta pay up.

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