This is the moment you realize you shared way too much confidential information ...
What we can learn from Silicon Valley on HBO or what reality TV for the startup world set on a Hollywood stage can tell us.
“We did it at Hooli all the time. We scheduled meetings with companies so they’d explain their technologies, and we’d use their ideas in our products.”
“Like what happened to Yelp!”
A large company or a VC might look to get important information from a startup under the veil of investing in the company or establishing a business partnership. Sad for the startup that thinks they are being seriously considered for an investment opportunity to partnership when the other party only wants to extract as much information as possible.
Prior to any real exchange of information, ask the VC or large company about their interest in your product or service and if they have a portfolio company working on the same product. Never share important information via email. Save that for in-person meetings.