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If I look back to the beginning of the current tech boom which started around 2009, we often wrote a $3–5 million check and this was called an “A round” and 12 years later in an over-capitalized market this became known as a “Seed Round” but in truth what we do hasn’t changed much at all.
In addition to his books, Geoffrey Moore assisted in writing “In a Downturn, Provoke Your Customers” for the Harvard Business Review in 2009. His strategy for selling in 2009 is relevant to any economic downturn. Luckily, the strategy can be broken down into 3 steps. What keeps them up at night? What are they ignoring?
As more consumers were skipping commercials the idea of authentically integrating brands into media seemed obvious to me and ended up informing a lot of my investments in 2009 and 2010. Hamet is an extension of this strategy. So he has the exact same ratio of time available per board as any full-time partner at Upfront does.
I asked some of the participating VCs, and they told me their attorneys had figured out a way to keep their stealth-mode companies stealthy.Yes, this strategy is not for every company. Following Microsoft’s addressable advertising trials with NBC in June 2009, many suspect that Google’s investment may have some defensive motivations, as well.
I would argue that the shut-down of September 2009 was equally severe yet there are signs that this “VC Ice Age” has begun to thaw. The best MBA class I took was an investment strategy class. As a personal story, I sat on the board of one company with a very unhealthy burn rate relative to revenue or expected growth.
I first met Nick Halstead in 2009 when he was running a company called Tweetmeme (the predecessor to DataSift) who had invented the Retweet button and actually helped Twitter develop its early API. So Nick drove strategy & tech from the UK and remained an active board member and CTO of the company.
The biggest media attention in our industry went to the so-called “super angels&# during the 2009/10 timeframe and while I don’t believe there is such thing as a super angel I believe that much media attention was deserved. Spawning of Micro VCs. These people understand that the nature of startups have changed.
In 2008-2009, the financial markets seized up, and there were quarters of complete uncertainty, but ultimately VCs started investing again and things normalized. The crisis began in August 2008, but by March 2009, deal activity in venture had picked up again and economic activity in the venture ecosystem normalized.
While a few iconic brands including Uber, Airbnb, and Square emerged successfully from the last downturn, most venture-backed companies struggled during this period, and many ended up pursuing M&A strategies. A second non-traditional way to enter the M&A stream is through strategic board enhancements.
“Gabriel is the Director of Innovation, focused on mobility and energy, for Elemental Excelerator, a climatetech accelerator founded in 2009 in Hawaii. Prior to Prelude Ventures, Victoria worked on climate change strategy at BCG and started an agriculture supply chain company. Gabriel Scheer — Elemental Excelerator.
Today, they’re on track to surpass half a billion rides globally by 2021, far outpacing early growth in the carbon-heavy ride-hailing industry founded by Uber in 2009. It’s a proven strategy to improve the safety of all road users that depends heavily on one critical input: reliable, standardized data.
Another ally is Marissa Mayer, who first met Durrett back in 2009 when Mayer was still known as Google’s first female engineer its most fashionable executive. “One of the things that’s really helpful when it comes to data and e-commerce is when you can capture people at a particular life stage,” Mayer explains.
They hoped to put unemployed union members to work updating buildings, but the technology was much more expensive in this 2009 time frame, and it proved difficult to make the economics work for everyone. First of all, once it got some building owners involved, there was a big word of mouth effect, and that helped get more owners on board.
You’ll find dozens of articles on keeping your deck to 10 slides or how you must have a board of advisers slide, but we base our thesis on some more tangible examples. For example, on their 2009 pitch deck, Airbnb had a market validation slide to support their thesis that people would be willing to stay on strangers’ couches.
First, board directors are encouraging companies to remain unprofitable longer to pursue bigger outcomes. Without significant barriers to entry, new entrants use lower prices and freemium strategies to win market share. The fraction of small IPOs with negative EBITDA has doubled to nearly 90% in about 30 years. Small IPOs. .
As Fred Wilson wrote over the weekend , Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System (the Fed), indicated last week that the Fed would likely increase the federal funds rate , which has hovered around zero for the last seven years - since the collapse of Lehman.
A lot of the things that we ultimately did when I was running Global Payments from 2013 to 2023, a lot of things that we ultimately did were not even like a glint in my eye back in 2009, 2010 when I was just thinking about coming over. Global Payments have really been rifle shot in terms of distribution before I came on board as CEO.
Founded in 2009 by top scientists in the fields of aging, genetics and biology from Harvard, MIT and Tufts, InsideTracker is a truly personalized nutrition and performance system, aiming to help people optimize their bodies from the inside out. says Myoung Cha, chief strategy officer and president of Omnichannel Care at Carbon Health.
I ran a team of 14 people (12 Japanese, 1 German and 1 Turk … both of whom were fluent in Japanese) who produced an Internet strategy for the board of Sony. Next post: two “4-Hour Workweek&# like hacks I started in 2009 to try and take back control of my life that are saving me hours. Close enough.
Since 2009 we’ve been in an unequivocal bull market. Make sure your board challenges you enough about long-term vision & innovation. Not continuing to challenge yourself on product strategy will lead you down long-term ratholes. Your board likely won’t unless you have visionaries who are also egg breakers.
Starting in 2009 I began writing checks consistently, year-in and year-out. Within 5 years I was on the board of real businesses with meaningful revenue, strong balance sheets, no debt and on the path to a few interesting exits. Hey, we got to raise again next year. Let’s deploy faster! How’s that advice holding up?
Gogii came in my office in 2009 with three of the most talented founders I had seen. “What you see&# is a brilliant marketing & strategy initiative that has gotten some of the hardest to acquire customers on to our platform and not just downloading but using our application every day for hours on end. Will we get there?
California Milk Processor Board: “Got Milk?” Coca Cola – “Open Happiness” (2009). This slogan managed to be catchy despite its relatively bigger size because it describes the product and its unique strategy. Apple: “Think Different.” L’Oréal Paris: “Because You’re Worth It.” BMW: “ Designed for Driving Pleasure.”
He also talked about the work he enjoyed doing: coming up with our strategy, working with our largest customers (like Allstate, DirecTV), working with VCs (Accel, Upfront, Rincon, Salesforce.com) and talking with future investors. So we as a board kicked off a search for the next CEO.
And then I got into strategy consulting, and I wanted to go into strategy consulting, and they said, “Yeah, but you’re a tech guy. We don’t take tech guys in the strategy consulting group.” Probably the internet helped because they needed internet skills in their strategy group. 100 billion idea.
“This essay is dedicated to the great VC’s on my board who I am lucky to work with: Sameer Gandhi from Accel, Jeremy Liew from Lightspeed, and Kirsten Green from Forerunner. By 2009 had reduced to around $15 billion in capital from LPs. But I became a VC in 2007 and wrote my first check in 2009 – 4.5 I rest my case.
In 2012, the economy was starting to bounce back from the financial collapse of 2008 and 2009. At an executive level, we were focused on building a strategy where our business was able to still grow and make every dollar count. To managers and boards so they’ll believe in your ability to execute. I was right.
The organization serve as an informal business advisory board. … 2009: Know what you stand for and surround yourself with people who are aligned with that mission. We grew our customer count 30% in 2009. The strategy of 2008 serves as a pivotal lesson of our 15-year life. I certainly did.
No chip off any block right now : Samsung cuts memory chip production , with Kate reporting that the consumer electronics giant hit its worst quarterly profit since 2009. Price wars : That’s Tesla’s strategy for competing with legacy carmakers , Kirsten writes. Oops, ChatGPT did it again : Devin asks, “ Can AI commit libel?
The company has been around since 2009 and just launched a new set of tools. Today, it launched an iOS version of its web3 and crypto-friendly browser. Like HubSpot, but HubSport : TeamSnap is making it easier to manage youth sports organizations — scheduling, team management, etc. Image Credits: Alex Trautwig / Getty Images.
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