I sometimes hear entrepreneurs extol venture debt because it is “free money.” Low interest, non-dilutive capital. In my experience, there’s no free lunch in the capital markets. That’s certainly the case with venture debt. The interest is low for a reason. Venture debt is simply a loan. There are interest and warrants attached. There are
A Day Off
I’m grateful for this holiday week. I’m caught up on email, as well as most household chores. So, I decided to spend the day outside. I fished a local river. It was cold and windy. Only crazy people go fly fishing on January 2. I ran into quite a few other anglers. Everyone was very
Chilling Out on NYD
We today, on New Year’s Day, drove from Jay Peak for four hours straight, no stops. It was a stress-free drive, with clear and dry roads. There’s not much snow in New England right now, although I suspect we will get plenty in the coming weeks. Skiing during Christmas week is hit or miss, depending
A Snowy New Year’s Eve
We are skiing up in Vermont for a few days and are pretty far north, near Canada. Some shots above. As a VC, you almost never go offline. So, I check email a few times each day and had a call with one of our companies. But, there are many people who almost never
Figuring Out a Career
I had a call today with a college freshman, a friend’s son, who wanted to ask about what a VC does and how to figure out a career. I pointed him to some of my blog posts on career management and also told him what I wish I knew when I was his age. For
Happy Holidays (and, Help)
Merry Christmas and happy holidays! This Christmas morning, we are in a relaxed-but-busy mode. I’m cooking a fair amount today, including cinnamon rolls (from a can), cranberry-pumpkin bread for lunch, and a standing beef rib roast, sides and two desserts for dinner. We are doing Christmas gifts a bit different this year. Each family member is