Musings of a VC in NYC
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I've been thinking a lot about the differences between first time and serial entrepreneurs. We invest in both and do not have a preference betweeen the two. But there are significant differences. The best first time entrepreneurs have been stewing on their idea for quite a while. It is a personal passion of theirs and…
The Pivot is celebrated in startup land. Huge successes like Twitter and Slack are all the results of pivots. So surely pivoting is a good thing, right? Well, I am not so sure. And I certainly don’t want entrepreneurs to think that pivoting is the right thing to do when their original idea fails. It […]
In about a month, an important moment will happen in the world of crypto/web3. The Ethereum blockchain will move from a proof of work consensus mechanism to a proof of stake consensus mechanism. This event is known as “The Merge” in Ethereum land. There are many reasons why this is an important moment for the […]
There is a big banking reform bill working its way through the Senate right now. It is sponsored by Chris Dodd, Chairman of the Senate Banking Committee. It has a long name I can't remember, so I'll call it the Dodd Banking Bill. What does a bill attempting to regulate the banking industry have to […]
I have said many times that early stage VC is a lot like baseball, if you get a hit one out of every three times, you are headed to the hall of fame. And if I look back over my career, and also over the track records of the firms and funds I have helped […]
One mistake I see startups make a lot is getting too focused on what is going on around them. They spend too much time trying to figure out what their competitors are going to do. They watch the next hot startup with jealousy and it reminds them of when they were that "shiny new thing" […]
The folks at Behance and Cool Hunting asked me to talk at their 99% Conference a couple months ago. The 99% conference is aimed at creative professionals and is focused on Edison’s “99% perspiration.” And in the spirit of how to get your ideas to happen, they asked me to talk about entrepreneurship and the myriad […]
We were in a board meeting today and the founder/CEO made a comment about a deal he's working on and I said "well you learned that well in school." He smiled and said, "we didn't go to school" (meaning college). I didn't actually know that, but it did not surprise me. I have learned that […]
Last night The Gotham Gal and I had dinner with our friends John Heilemann and Diana Rhoten. As dinner was ending, the talk turned to chatroulette and what to make of it. John and I both had the exact same reaction the first time we used chatroulette; "how did it take 15 years for the […]
We have enjoyed an amazing run in the web startup and investing space over the past five or six years. In this sector of startupland, company creation is up, investment is up, there are plenty of success stories, and not all of them are based on quick flips and takeouts. There is real revenue flowing […]
The most common comment in this long and complicated MBA Mondays series on Employee Equity is the question of how much equity should you grant when you make a hire. I am going to try to address that question in this post. First, a caveat. For your first key hires, three, five, maybe as much […]
There's a front page story in the NY Times today about the hyperactivity in web startupland. They quote from a few posts I've made on this blog and I think Jenna and Evelyn did a nice job with the story. The thing that's clear from reading the story is the hyperactivity is in the early/seed […]
Sarah Lacy has a post up on Techcrunch about Paul Graham and Y Combinator. In the post, she says: I’ve been a bit hard on Paul Graham and Y Combinator in the past. It’s not that I think he hasn’t been a great mentor to young entrepreneurs– he has. But that’s a lot of equity […]
Last week my friend Mark Pincus noted, via twitter, that I was not at the D conference and wondered if I knew something others did not. I replied back to Mark that I'm not a big fan of attending conferences. I don't go to TED and never have and don't think I ever will. I […]
Over the past few months, I’ve heard countless VCs utter the words ‘we need to own’ followed by some number. Often it is 20pcnt, but it is frequently 30pcnt. I heard someone tell me about a VC yesterday who said they needed to own 44pcnt. I was tempted to ask them to give me the […]
I just bought a replacement part at an online store I've never shopped in before. I was dreading the checkout process since I have not committed my various credit cards to memory. But thankfully this store offered checkout with Paypal. I clicked on it, entered my paypal credentials, and was out of the store in […]
I've gotten used to the snarky and cynical comments that people make on techcrunch and other tech blogs when there's a post about a startup that get's funded. It's a good thing that people debate and discuss these investments. Clearly not every venture investment that is made is a good one. In fact I've written […]
I spent a lot of time on this blog in the past month exhorting everyone to give teaching tools to the neediest public schools. I did that because education is possibly the most important thing we can do for our world and our children. But I also believe the the public school system in this […]
James Altucher penned a column in today's WSJ titled The Internet Is Dead (As An Investment). James is a fund manager and well read columnist on investing and he is entitled to his opinion. He puts his money where his mouth is. But so do I and since we continue to invest heavily in the […]
Yesterday, TechCrunch reported the news that Yahoo! is planning to shut down Geocities. That is sad news on many levels. Geocities was the web's first community and it was my first "mega deal" when it was sold to Yahoo! in 1999 for $3.5bn (including the value of the options Yahoo! assumed). I learned a lot […]