See my prior post for background.
Today I had a long call with a highly experienced investor who asked to hear the idea I talked about – but didn’t describe – in my prior post. He agreed that the idea is new – as far as we both know – but he will do some research to be sure. He also agreed that if it were implemented correctly it has the potential to be transformative to the entire world, economically and otherwise. Apparently I did not exaggerate its potential size. It also sounds, at least on the surface, to be doable.
Like anything, the hard part is in the details. All of the technology for this idea exists off the shelf, but nailing the user experience would be key, and not easy.
There was much discussion about how an investor could guarantee me an undiluted 5% equity position into the future when that sort of arrangement might handcuff future funding options. We reached an understanding on how to deal with that risk, but I won’t go into it here.
The potential investor will do some thinking and digesting and get back to me in a few days. If he passes, I will go to the next person who emailed and asked to hear it. If everyone passes, I’ll describe it in a future post.
Are you curious yet?