Noted LA Angel Investor (and “Silicon Beach” moniker proponent) Paige Craig recently unveiled his stealth startup, Betterworks — a platform to help companies manage and obtain discounts on perks for their employees. He’s also been busy doing the local startup site interview circuit as well.
On socaltech talking about moving from investing to running a startup:
It was a couple of things. Being an investor, that gave me insight into just a ton of needs out there. Part of being an investor is questioning the ideas of founders. It forces you to think very deeply about the problem they are solving. I have a number of investments tackling the SMB space, including InDinero and Postling, all creating platforms to help small and medium sized businesses in some distinct way. I spend about twelve months before starting BetterWorks thinking about the SMB space, and the lack of tools and software for companies. It hit me that one of the first things companies need is talent, and I began to research the benefits space, and found that companies are spending 3 trillion dollars a year on benefits of all shapes and sizes.
And on The Startup Cafe talking about what advantages LA offers startups:
Silicon Beach is amazing! Other than an amazing lifestyle (and yes, happiness and quality of life does matter!), Los Angeles is a city rich with creative resources and two generations of technical leadership who are now engaging, supporting and investing in the latest wave of innovation. We have every major industry represented here and tons of capital. If you need celebrity involvement, writers, producers, or access to media & entertainment resources this city has it all. The downside is that LA is so big it’s hard to know who to work with and where to go when you first get here. Many of us have decided to focus on Silicon beach (basically Santa Monica, venice and areas west of the 405).
It’s not often you get to hear from the perspective of someone who’s been on both sides of the investor/entrepreneur relationship, so give it a read if you’re interested.