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The Twenty Year Itch: My Last VC Investment Out of Brooklyn Bridge Ventures

This is going to be BIG.

Sometime in the next few weeks, I’ll complete my next investment. Last August, I passed the point at which I had spent literally half my entire life working in this asset class, having started at the General Motors pension fund doing institutional investments in venture funds and late-stage directs back in February of 2001.

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Your board should protect you!

Berkonomics

All other board functions are secondary. Even venture capitalists who sit on boards where they have significant investments often forget this point. Actually, there are two legal duties of board members. Second is the duty of loyalty… …Loyalty to the corporate person, not to the shareholders who elected the board member.

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The Pros and Cons of Rando Rich People Investing in Your Startup

This is going to be BIG.

These are people that didn’t make their money through a tech startup or startup investing. They might have a more flexible time horizon than a VC because the money doesn’t come from a fund with a limited lifespan. That’s why I normally ask for a Board Observer seat. I’m not talking about active angels. Perhaps they inherited it.

investing 221
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Take only “smart money” investments

Berkonomics

Often, that money is worth more than the cash invested, because the investors who often become members of the board bring a wealth of experience, insight, relationships and deeper pockets to the table. In a number of cases, these VC partners have made the difference between success and failure or at least growth vs. stagnation.

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Some Reflections on VC Investment Decisions

Both Sides of the Table

I started in 2007 with a thesis that my primary investment decision would be about the team (70%) and only afterward about the market opportunity (30%). But they are also a tax on your time with portfolio companies, looking for new investments, running your shop and honestly they are a tax on your family life. I don’t.

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Meme Investing

A VC: Musings of a VC in NYC

It may be silly and crazy, but it has also been a good investment for my friend and anyone who bought it in the early years. The combination of memes and investing is a powerful cocktail that I have been ignoring for a long time, probably incorrectly. It is easy to dismiss meme investing.

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Board Diversity

A VC: Musings of a VC in NYC

The board diversity problem is a symptom of a much broader problem around lack of diversity in founders that get funded and lack of diversity in VC firms. Most startup boards are made up of a few founders and a few VCs. No wonder you have no diversity on the board. Boards don’t need three or four VCs on them.

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