When you start a company, you step out into the void. It’s all on you. Building a company is not the same as building a product (as CRV’s Izhar Armony says in an awesome interview here). The former is much more difficult, and in the end, requires a deep management team and significant capital to fund.

I really enjoy Fred Wilson’s blog and read it avidly. Recently, he wrote about the importance of having enough capital as a VC to invest in multiple rounds, and also, having the guts to lead an inside round in your winners. I completely agree, given the payoff structures that exist for start-ups. What’s always been

Red Sox owner John Henry, who runs a hedge fund, recently talked about baseball trades. He think the best trades are the ones the fans don’t like. In other words, they are contrarian moves. All this made me think about entrepreneurship. When do you hold vs. fold? Are you being unreasonable and, in fact, crazy