Risk is an interesting thing. It’s always there, and how you divide it is the key question. I this morning read about Spotify’s $1 billion convertible note financing. Some interesting terms have been leaked, though I don’t know why the company would want those out in the market. And, I’m sure, there are other terms.
I attend many board meetings and have done so through multiple market cycles. Regardless of your business model, I think ultimately four numbers are the most important. I call them The Big Four. The numbers may reflect whatever is most relevant for your companies: they could be pageviews, active number of users, or revenues. But, to
I chatted with a friend, who has decided to close down his start-up. He worked on it for a few years, underwent a major pivot, and, in the end, realized, it wasn’t going to work out. All this while having his first child, too. He is closing down the company. He called me to ask for
I had heard about Joe Trustey long before I met him. Notre Dame graduate. Captain in the U.S. Army. Baker Scholar at Harvard Business School. A great sense of humor. I was a young plebe at Bain & Company. Joe sat near one of my roommates, who had long declared Joe “a cool dude.” My
Over the years, it has been a blast to meet many people, including those in the VC industry. Sometimes, people come to me for career advice. I take very seriously those conversations, and I’m sworn to secrecy on the details. A question I get from VC Associates is this: how do I get promoted? So,
I try to reflect more at year-end, and so, I thought I’d write here about our first year investing from Kepha’s Fund 2. We’re very grateful to our LPs for supporting us with another fund. We cut over to Fund 2 spring of 2012 and we’ve since made six seed investments. We plan on continuing that