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- Next, We Drink CoffeeOctober 15 2008
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As you might imagine, the conversation du jour in VC and entrepreneur circles is around the current market gyrations, the Sequoia conclave (and kudos to those guys for kicking off this conversation), the subsequent very smart opinions from VCs and entrepreneurs alike, and what happens next.
My opinion on what happens next? Hell, I don’t know. And in many ways, I don’t really care. If you focus on what you control, you shouldn’t either.
Listen, it’s not like we’ve just been through a time where the IPO cup runneth over. We’ve seen nothing but bad news about exits for the last year and it’s clearly not going to ge
- GeographySeptember 30 2008
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I love living and working in the Bay Area for many reasons...the weather, the people, the landscapes, the startups. It's the best place in the world to be a venture capitalist. However, there are
points in the venture-funded economic cycle where it pays to spend time out of the area and I have seen enough local FNACs ("feature not a company") lately to know that now is one of those times.As such I have been spending time in Los Angeles, Portland, and Seattle and they are all great places. But this cycle is the first that I have spent a signficant amount of time in Boulder. I joined the board of Yieldex a year ago and started traveling there regularly experiencing both the rocking summers and the cold, but lovely, winters. We recently made an investment in Gnip which means I get to spend even more time in Boulder.
If you haven't been, you should. It is an outdoor paradise with extreme skiing,
- VCs and Risk AversionApril 16 2008
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Paul Graham writes another thought-provoking essay today on both why founders don’t sell early (or why they might) as well as castigates corporate development organizations and VCs for not being risk takers when it comes to valuing companies. I think he is mostly right, as usual, as do a bunch of other people.On venture investors taking risk, I get asked at least once a week something to the effect of “Where exactly is the ‘venture’ in venture capital?” Frankly, I agree. I am often surprised at how many venture capitalists aren’t very “venturesome”.
I think part of this is simply that venture capitalists have to put more money to work today. I cannot overemphasize how many entrepreneurs tell me that they really only need $1MM but are asking for $3MM-5MM because that is what they have been told investors want to invest. If I was a VC at a traditional firm and
- Maybe There Is Such a Thing as a Free LunchMarch 21 2008
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I had a great time at SXSW this year, but the conference has gotten so big that I missed a lot. One session that I shouldn't have missed was titled "The Art of Self Branding." Most of the session was spent talking about First Round Capital portfolio company Mint.com and how good a job they have done on creating a strong brand. It was such a flattering picture of the company that some assumed the presenter is a paid Mint.com consultant. She isn't, but Lea Alcantara, next time you are in San Francisco look me up and I will gladly buy you lunch.
- That Hiring Time of YearMarch 2 2008
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As many of you know, at this time last year we were looking for our first hire in the San Francisco office. The response was overwhelming, as were the number of really good people that we met through that process, and we ended up being able to work with a great guy.
We are again in hiring mode and looking for a Senior Associate for our firm, based in either our San Francisco or Philadelphia office. You can find out more about the job here, but I would encourage you to be creative if you are interested. Last year I received pointers to blogs, written business plans, some detailed financial analyses (for late stage private and some public companies, natch), as well as the standard resumes and cover letters. Feel free to express your interest in a way that reflects your understanding of the very early stage venture market.We’ll look forward to hearing from you.
