10/9/19 edit: VMware has acquired Carbon Black for $2.1 billion. So, we will increase the number of startups we will back. After Carbon Black went public, Mrs. T. and I had some discussions. What should we do with my personal winnings (I co-led the first institutional round when it was called Bit9; details here and
The Stockdale Paradox
I just got off a 7 a.m. Zoom call that HBS had set up for alumni. The Dean, two faculty members, and over 2,000 alumni were on the call, the first session in a series called “Crisis Management for Leaders.” In the discussion, one of the professors, Dutch Leonard, recommended that leaders should know about
‘Beat Your Isolation Loneliness’
I went out this morning for a long walk. The late-winter sunlight was blindingly bright, blunting the cold air and wind gusts on occasion. It was nice to get out of the house. Chances are, you too are engaging in social distancing as we all try to ameliorate the coronavirus’ spread. As for our family,
The Fear Gauge
One of the benefits of being older (and, on some days, feeling old) is that I’ve seen a few market cycles: the 1987 crash, the first Gulf War in 1990, the dot-com bubble and crash, 9/11, and the 2008 Great Recession. When these market dislocations happen, I get concerned. But, I don’t panic. Financially, I
A New World
It’s definitely a new world out there today if you have college-aged children. A slew of colleges and universities are closing down most of their in-person operations. I was back at HBS this morning for a meeting with a professor and to help with my upcoming reunion. It was an interesting time to be back,
Streamlining
Maybe, it’s because I’m over 50 now. Maybe, it’s because my older children are no longer children and are quite persuasive. But, I’m finding myself streamlining. One of our children, for example, has given up red meat to combat climate change. Another child has become a vegetarian for ethical reasons. And, over time, our family
Oaths
He won’t remember me, but back when I worked at Bain & Co., I interacted with Mitt Romney, when he was running the firm. A bit later, during a summer internship at Bain Capital, which he also was heading, I’d sit in on the weekly staff meetings and watch him in action. When Romney recently