Category

Venture Capital

A Venture Capital History Perspective From Jack Tankersley

In January, Jerry Neumann wrote a long and detailed analysis of his view of the VC industry in the 1980’s titled Heat Death:  Venture Capital in the 1980’s. While I don’t know Jerry very well, I like him and thought his post was extremely detailed and thoughtful. However, there were some things in it that…

Weekend Podcast – Investors Are Human Too

On my run this morning (yay – I’m running again) I listened to a wonderful podcast between Jerry Colonna and Bijan Sabet called Investors are Human Too – with Bijan Sabet. If you follow me, you know that I’m incredibly close friends with Jerry (he’s one of the people on this planet that I comfortably say…

1985: Oil Prices Will Go Up Forever

This is not a post about a bubble, real or imagined. It’s a lesson from when I was 20 years old. I showed up at MIT as an eager freshman. I was 17, from Dallas, with a nice pair of cowboy boots and long hair. On my first day, at the freshman picnic, I heard…

The Silliness Of Recapping Seed Rounds

Here’s the scenario. A company raises $2m of seed money from angels in a convertible note with a $6m cap. Assuming equity is raised at or above that cap, the total dilution, before the new money, is 33% (equivalent to an equity financing of $2m at a $6m post money valuation. The company spends the…

What Acquihire Really Means

I hope you had a nice 4th of July yesterday. Amy and I hid out all day in Longmont, playing with the dogs, napping, and reading. As a result yesterday was a three book day. One of them was Semi-Organic Growth: Tactics and Strategies Behind Google’s Success by George T. Geis. If you are a…