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0 pointswhoisjuan6y ago0 comments

I think the most ridiculous thing is not even the gift, but the fact that it is a Tandem bike (just because of the name).

What's the rationale there? "Ohh their name is Tandem. Let's buy them a Tandem bike to convince them to accept our term sheet. It's our fiduciary responsibility to do this stupid thing".

For me, that's just a red flag. How little can you add to a company besides money, that you have to resort to this chaplinesque strategy?

0 comments

WillPostForFood6y ago

Why not? Personal relationships are a part of why deals are made. Showing some whimsy and personal attention isn't going to hurt, and costs what? ~500?

bch6y ago

Not really your point, but if somebody gifted a $500 tandem/boat anchor for a $30MM co, that might indeed be a red flag. A $500 tandem is probably a boat anchor no matter what the circumstances are...

mathattack6y ago

This is the norm in business. It forces reciprocity. It’s why most sales orgs spend so much on business entertainment.

1 more reply

ymolodtsov6y ago

It’s basically a joke. Jokes attract attention of other people. Investors need to set up a relationship with the founders.

mandeepj6y ago

> I think the most ridiculous thing is not even the gift, but the fact that it is a Tandem bike (just because of the name).

Similar to Governors convincing Bezos to open HQ2 on their state by writing product reviews on amazon.com, giant cactus and what not.

Grustaf6y ago

Why is a sense of humour a red flag? Founders are people too you know.

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