Is NDA serious?
Since NDAs are civil contracts, breaking one isn’t technically a crime. However, it could come with severe financial penalties. Violating an NDA leaves you open to lawsuits from your employer, and you could be required to pay financial damages and possibly associated legal costs.
NDAs are useless to VCs, investors, and advisors!
Your ideas are not new to us, especially in Silicon Valley. We can greet a stranger on the sidewalk when we get our coffee. And have a mind-blowing conversation about the better version of Amazon.
Most of your ideas are building a better mousetrap.
However, the success is yet to be proven with sharp strategy, flawless execution, and the ability to fare above competition. I’m usually looking to be more impressed with the team: their thought process. Furthermore, their tenacity and creativity to maneuver challenges, the way they answer questions on all fronts. In addition, believe me, we will ask you all the tough questions! Why? Because dirt always comes out when you look hard enough.
Apple phones are the better version of Motorola/Nokia, Google search is the better version of Yahoo. FB is the better (and luckier!) version of MySpace. I can come up with hundreds more products if these are not enough. Just keep this in mind.
In conclusion, asking for NDAs is the first telltale of your lack of awareness and experience in dealing with investors and advisors. Lack of experience we can understand. But lack of awareness is less forgivable in this day and age. Where you can practically ask Siri and Google to find your socks.
So please, stop asking for NDAs!
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Is NDA serious?
