Jawed Karim became famous as the secret third founder of YouTube, who had left an active role at YouTube when the video giant was acquired by Google.
After cashing into the successful venture, he had gone back to school at Stanford.
Now VentureBeat is announcing that he is starting an Angel Investment group called “Youniversity Ventures” along with two other angels who will be making strategic investments in students working out of Stanford or The University of Illonis, Urbana Champaign. The funds they will be committing will be $50,000 – $300,000.
This is kind of funny if you think about it – thats about the total angel investment funding amount all of the promising global-focused startups in this industry are looking to raise right now. To get to those funds here, however, people here have to jump through a series of complicated hoops and wrack their heads on walls trying to convince people with old-school thinking, who have never been able to go global with any idea, how this new struggling startup with promise will be able to leverage growing trends. The total set and types of hoops startups here have to go through is very similar to Series-B rounds, including requiring answers to questions most startups would never have at angel rounds anyway.
Life would be just so much simpler if successful people like Jawed Karim focused their angel investment support to the best and most promising ideas out of the subcontinent – I am sure people like him would be much better audience for startups here to pitch $MM business plans based on radical traffic growth models.