Like everyone else, I thought last night’s super bowl was outstanding. Perhaps it was the quality of play (especially in the second half), the first overtime in Super Bowl history, or the unprecedented comeback by the Patriots. The game was great. The commercials … not so much.
I thought the commercials last night were proof that there is generally more money available than good ideas. Companies reportedly paid an average of $5 Million for a 30 second spot during the game. Prices for Super Bowl ads continue to rise because the game remains, by far, the best (some would say ‘only’) way to reach a mass television audience – an estimated 111 million people watched last night.
However, almost all of the commercials last night failed to be memorable. I was comparing notes this morning with a friend, and I had a hard time even remembering the commercials he was talking about.
Whenever entrepreneurs ask me for advice on fundraising, I always give the same response:
“There is more money available to invest in good ideas than there are good ideas looking for money.”
That doesn’t mean it is easy – I understand how difficult fundraising is. However, one key to negotiating is to understand the motivation of the other side. As an investor, I search for good ideas every day. They are more rare than cash.
Last night, I just enjoyed watching the game.