This week in Sky TV’s Billions, Axe explained to his wife why she wasn’t ready to launch her small business. It would hit a nerve for anybody who has tried and failed to get angel investment, venture capital or crowdfunding.
“What is it that you do that you’re the best in the world at? You offer a service you didn’t invent, a formula you didn’t invent, a delivery method you didn’t invent. Nothing that you do is patentable or a unique user experience. You haven’t identified an isolated market segment, haven’t truly branded your concept. Do you need me to go on?”
This is very similar to one of the criteria set by Angels 5K for investment: “Clear sustainable competitive advantage, scalability and high barriers to entry, for example through intellectual property or patent protection, or exclusive commercial arrangements.” See our full criteria on the here.
You can learn a lot from Billions but, unless you want to end up in jail, best to avoid the bribery and corruption.
Billions can be seen on Sky Atlantic on Tuesdays or on Sky Catchup