We often receive word from an awesome person who wants to join our VC firm. For example, I today received an email from someone offering to join as an Associate and to do so without salary. It’s a very kind offer, but Kepha is a partners-only firm. And, we are an equal partnership for the investors.
What’s Your Start-Up’s Valuation Inflection Point?
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.
Keep Going and Go Public
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
Being a Contrarian
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
Help Peter Tryba with His Kidney Transplant
“What are you up to this summer?” I asked. “Taking off for two months,” he said. “Why?” “I’m getting a kidney transplant.” I recently visited my favorite wine shop, Marty’s, and reconnected there with Peter Tryba (up top, with his daughter). He is the head of the wine department and has picked out for me some
Beer at 2 p.m.?
Last week, I really enjoyed meeting up with Kitt George, Dennis Keohane and M.E. Francis for a “Beers with…” video interview. I was supposed to do the inaugural one last spring, but I had given up alcohol for Lent. The clip is here. The New England Venture Capital Association (NEVCA) originated the idea, and I think it