January 30th, 2020 • Petr Král
We welcomed 2020 with a gathering of Reflex partners and founders of our portfolio companies. The goal was to trade experiences in informal setting with great food and get to know each other better.
Your investor is your partner in good and in bad times. You need to get along well with him – similarly that you need to align values with your partner for life. And that requires some picking, right?
Are you selecting your life partner by sending an unsolicited email to all the girls you were able to get the contact to? Showing off your refined muscles, time of your last Iron Man race, a carefully selected picture of your striking BMW and inviting them to tender offers?
Yet many startups are doing exactly that. They download an extensive database of investors somewhere. The more, the better – they do not care about the profiles. They send out an unsolicited bulk pitch … and hurry up, you stupid investors, we are the hot girl in town, so send us your proposal by August 12, 12:00 PST. As little diligence they put into selection of the investors, the pitch itself is almost inadequately rehearsed. The best colors, photographs, charts, buzzwords, the right CAGR of 60% and 30% EBITDA … and skillfully hidden “projected numbers” disclaimer :-).
This behavior is unfortunately endorsed by many investment boutique advisers, who only care about their commissions. The higher the valuation gets, the higher fee they charge. Nothing else matters – a contract with a devil with higher fee is better than a contract with a real partner. Who gives a fuck?
We at Reflex Capital do not believe in partnerships that are only based on money values. We do not need a superpitch. On the contrary, our bullshit detectors start flashing when we get one. We need to see your desire to have us as your partner. And then, maybe, the desire will be mutual and we’ll create a partnership that lasts.
December 23rd, 2019 • Zdena Macháčková
It’s Friday, just before Christmas, December 19th, 2019. I’m going to work, and the mighty Google reminds me again (?) of “How did you like the Dancing House?”… How many times have I been getting rid of these scary “services”? Where else is my data? BI is simply ubiquitous.
December 23rd, 2019 • Josef Chvojka
There are hundreds of How-To’s. How to date a partner, how to sum up a CV, how to shake a hand. In our business, you need to know how to get noticed, should you send out a pitch deck. We get dozens of them a week. We try to consider every one, but you know.