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Hi, I’m Brad Feld, a managing director at the Foundry Group who lives in Boulder, Colorado. I invest in software and Internet companies around the US, run marathons and read a lot.

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Today’s Fun – Gnip, Twitter, Uncommon Stock, and Pre-Seed Rounds

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FSA (Feld Service Announcement) – my version of a “public service announcement”: Moz is on the hunt for a VP of UX and Design. This role is one of our most crucial hires this year. The ideal candidate will come to us with experience and examples to show of very complex, technical projects that s/he made simple and fun. I would love for you to share this job description with your network or if you have anyone in mind I would love for you to send them our way.

Yeah, it’s been kind of busy the last week. Congrats to my friends at Gnip on becoming part of the Twitter flock. I have a great origin story about the founding of Gnip and the first few years for some point in the future. But for now, I’m just going to say to everyone involved “y’all are awesome.”

Last week Manu Kumar had a spectacular post titled The New Venture Landscape. While it’s bay area centric, I especially agree with the punch line:

Pre-Seed is the new Seed. (~$500K used for building team and initial product/prototype)
Seed is the new Series A. (~$2M used get for building product, establishing product-market fit and early revenue)
Series A is the new Series B. (~6M-$15M used to scale customer acquisition and revenue)
Series B is the new Series C.
Series C/D is the new Mezzanine

Today at 5pm I’m doing a fireside chat with Eliot Peper, the author of Uncommon Stock, the first book published by FG Press. Join us for some virtual fun and a discussion about fiction, books, and startups.

And – if you miss that, Eliot is doing another event on Friday at 5pm at Spark Boulder.

The Heart of the Start

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It’s been a blast to get to know and work with Eliot Peper. His book, Uncommon Stock, is the first one that we published at FG Press. If you want to read – and comment – along with me, grab a copy of Uncommon Stock on BookShout.

I asked Eliot to write a short post about how he’s feeling and thinking about the category of “startup fiction” now that the book is out in the wild and he’s getting some great feedback.

Following are his thoughts.

Business case studies have wrestled through many different components of entrepreneurship. Bloggers and Quora have picked up the slack for the situations those case studies miss. Management books delve into every nook and cranny of strategy and tactics. Talking heads discuss the ins and outs of everything from product development to investment theory. Gurus wax lyrical about vision and lean, focused execution.

But there’s one critical piece of entrepreneurship that these experts miss. Their analyses emphasize the rational. They draw out lessons-learned from business experiences and try to share best practice with aspiring entrepreneurs. Knowledge is important and many experts are happy to share their thoughts (whether you want to hear them or not!). But they too often focus on the brain at the expense of the heart.

Building a business is a human experience as well as an institutional one. That’s why I love Brad and Amy’s frank discussions in Startup Life. In thinking about growing an organization it’s easy to forget that it’s all made up of individuals. These people lay the groundwork and set the course for the companies they found. They also struggle constantly with work/life balance, relationships, burnout, and team dynamics.

It’s a truism in venture capital that startups fail most often not because their product explodes, but because their team implodes. If you think high-school had a lot of drama, try a high-speed tech startup. Inspiration, betrayal, falling-outs and last-minute-comebacks are par for the course. Everyday I’m blown away by the incredible entrepreneurs I know and work with. Their passion fuels them through the equally challenging rational and the irrational halves of company building.

The emotional reality behind the scenes in every startup is what inspired Uncommon Stock. I thought that fiction could give an intimate peek into the minds of founders. Early readers have pointed out something that I find hugely cool: the other benefit of Startup Fiction is that its so damn accessible.

People who read non-fiction books about entrepreneurship tend to already be engaged in the startup world in some way. We’ve worked for a startup. We read Techcrunch regularly. We go to SXSW.  Living and breathing that world, it’s easy to forget anyone else is out there. But readers that aren’t engaged with tech and picked up Uncommon Stock simply because they wanted a good page-turner are reaching out to say how awesome it is to steal a glimpse into our startup boudoir.

We are blessed to live in a magical world filled with some of the most talented people on Earth. Hopefully together we can help to illuminate the heart of the start.

Uncommon Stock – The First Book From FG Press

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Uncommon Stock: Version 1.0Uncommon Stock: Version 1.0 is officially available today and can be bought online at Amazon and pretty much everywhere else. It’s the first title from FG Press and is in a category we call “startup fiction” and expect to be publishing a lot of. Think of what John Grisham did to the “legal fiction” genre. That’s what we are doing with Uncommon Stock and startup fiction.

Mara Winkel and James Chen are undergraduates at CU Boulder. Mara is pre-law, James is a computer science major. James comes up with an idea for a new machine learning technology that he creates a prototype for using the game Go as his starting point. James asks Mara to join him as his partner in the new company Moziak, which they launch against the protests of their parents but the surprising emotional support of Mara’s boyfriend Craig. Early on Mara and James start applying the technology to forensic accounting and get tangled up with some bad guys.  As Mara tries to get funding for the company, James cranks on the product, and Craig goes off the rails, endangering everyone. Then things start getting really complicated. And interesting. And then the VCs show up.

I love this book. This project started about a year ago when Eliot Peper send me a cold email. I didn’t know Eliot, but he sent me a thoughtful note and attached a few chapters of a book to read. He was upfront that this was his first book, that is was tech fiction, and that he wanted my opinion. I read it that night on my couch in my condo and I can still remember turning to Amy after I finished, saying “wow – this is really great!”

Eliot continued writing and I continued giving him feedback. About six months ago I told him about the idea we were cooking up for FG Press and asked if he wanted to publish with us as an experiment. He jumped at it and our relationship, which now included Dane McDonald (FG Press’s CEO) deepened. Eliot finished his first draft in January and over a period of a few weeks I read through the book several times, making significant edits, adding a bunch of local Boulder color, and tuning up some of the story. Eliot was amazing during the edit process – working closely with me, my wife Amy Batchelor who also provided an editing pass, and then our formal editors who did a tight copy-edit of the book.

During this period, we worked together with Eliot on the launch of FG Press as well as his book. We’ve used Uncommon Stock as the alpha test for our process and have improved a lot of things. You’ll see some obvious things from us, like a 10 chapter free giveaway (if you want to sample the book before you buy it). You’ll also see some not so obvious things, like the ability (soon) to buy the book using Bitcoins.

You’ll be hearing a lot from Mara Winkel on Twitter. She’s an amazing entrepreneur – just the kind of learning machine I love to back.

Grab your copy of Uncommon Stock: 1.0. Or, if you just want a taste first, download the first 10 chapters.

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