Paul Graham to Entrepreneurs: Stop Worrying About Valuation

Paul Graham has just published one of his best essays ever, “How To Raise Money” http://bit.ly/18acSGq I was nodding my head through the entire essay, but I want to draw particular attention to what Paul has to say about valuation.  Now YC companies are (in)famous for raising money at huge valuations, and Paul has been … Continue reading Paul Graham to Entrepreneurs: Stop Worrying About Valuation

Do Venture Capital “Platforms” Make Sense?

One of the biggest VC trends in the past half-decade has been the move towards what people are now calling “platforms.”  While the details vary by firm, the common thread is moving from the classic VC model (a small number of General Partners who make investment decisions, market the firm, and help build companies) to … Continue reading Do Venture Capital “Platforms” Make Sense?

Bravo to Mark Suster for Speaking Up For Older Entrepreneurs

It is well known that I have a man-crush on Mark Suster.  His focus on pragmatic realism dovetails neatly with my own interests, and when he takes a stand, I never feel like he’s doing it for effect. So my man-love leaped to new highs when I read a recent post of his where he … Continue reading Bravo to Mark Suster for Speaking Up For Older Entrepreneurs

Getting to the point is a cardinal virtue

While the startup life can be full of excitement, it can also be incredibly repetitive.  Take the pitch, for example. Many entrepreneurs dislike fundraising because they have to deliver the same pitch over and over.  I’ve lost track of the times that people have referred to themselves as a wind-up toy. Yet if entrepreneurs think … Continue reading Getting to the point is a cardinal virtue

The Future of Venture Capital…is Venture Capital

Today, I saw a post on the future of venture capital–a very popular parlor game in the Valley–which focused on how the rapidly declining cost of starting a company had rendered the traditional VC model invalid: http://bit.ly/18lSFMa “The dramatic drop in the cost of creating a company over the last decade ($2 million in the … Continue reading The Future of Venture Capital…is Venture Capital

Always Get A Lead Investor

I love Jason Lemkin’s writings about entrepreneurship and building SaaS companies.  Jason’s most recent success is EchoSign (sold to Adobe), and he was unusually candid about the importance of having a VC investor rather than a “party” round: http://bit.ly/17a2AW7 “Everything else, for funding, in the end didn’t really matter.  The first $2m?  Great, but we … Continue reading Always Get A Lead Investor

Why You Have To Be A Value-Added Investor

One of the tempting illusions about angel or VC investing is that you can relax once you’ve made the investment.  After all, if you’ve picked the right startup, isn’t that 90% of the battle? Alas, this is just an illusion.  In fact, once you’ve made an investment, it’s critical that you demonstrate your value to … Continue reading Why You Have To Be A Value-Added Investor

How Your Startup Is Like Jello

It’s brightly colored, and made from rendered animal skins and bones…. Nah, just kidding.  (Not about the animal bones–that’s absolutely true.) Your startup is like Jello because it starts of in a liquid state, but undergoes a phase transition and becomes (more or less) a solid. When your startup begins, it is completely fluid.  You … Continue reading How Your Startup Is Like Jello

The 3-Step Secret To Boosting Your Performance 60%

Here’s another fascinating article from Bakadesuyo: http://bit.ly/19pAZ7P If you’re about to tackle an important challenge or task, there’s a simple 3-step process you can follow that, in just 30 minutes, can boost your performance 60%: “A recent study by Duckworth, Heidi Grant Halvorson, Benjamin Loew, Oettingen, and Gollwitzer asked a group of high school students … Continue reading The 3-Step Secret To Boosting Your Performance 60%

The Real Odds of VC-backed Success

I try to give entrepreneurs a realistic view of their chances of startup success.  Yet I’ve always relied on anecdote and example, rather than hard numbers.  Now I don’t have to.  Here is a set of definitive numbers from across the entire industry:http://nyti.ms/156D8RL “According to the data provided by Sand Hill, since 2003 only 6 … Continue reading The Real Odds of VC-backed Success