Both Sides of the Table
SEPTEMBER 18, 2014
'This week. On the phone … Me: So, you raised venture capital? Him: Yeah. We raised a seed round. About $1 million. Me: At what price? Him: It wasn’t priced. We raised a convertible note. Me: With a cap? Him: Yes, $8 million. Me: Ah. I see. So you did raise with a price. It’s just a maximum price. You’ll find out the minimum when the next round is raised.
This is going to be BIG.
SEPTEMBER 15, 2014
'The nature of work is changing--we all know that. You''re required to be a lot more entrepreneurial, which requires you to build your own networks in order to get customers and collaborators, since these functions won''t be under the roof of a big company anymore. You''ll need to be more mobile, nimble, and able to go where the work is. You''ll need to think globally.
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Gust
SEPTEMBER 17, 2014
'This week. On the phone …. Me: So, you raised venture capital? Him: Yeah. We raised a seed round. About $1 million. Me: At what price? Him: It wasn’t priced. We raised a convertible note. Me: With a cap? Him: Yes, $8 million. Me: Ah. I see. So you did raise with a price. It’s just a maximum price. You’ll find out the minimum when the next round is raised.
Berkonomics
SEPTEMBER 18, 2014
'Plans don’t often work as devised. We are not always smart about the market or the product. Great teams are not bound by their original product or marketing plan. Greatness finds one definition in management’s ability to “pivot,” or change the plan in reaction to its early response from the marketplace. Investors celebrate teams that quickly find the flaws in the original plan and reallocate resources in another direction before more wasted effort.
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Both Sides of the Table
SEPTEMBER 15, 2014
'Venture Capital is a tricky industry. If you’re funding the same stuff as everybody else and if you started your activities when the clues were obvious you’re much less likely to drive enormous returns. When Fred Wilson funded Twitter I guarantee you it wasn’t obvious that it was a billion dollar idea. Far from it. Many questioned whether it could survive under the fail whale, inevitable competition from Facebook, founder fighting, fights with 3rd-party developers let alone be
Startup Catalyst Brief brings together the best content for the entrepreneurial ecosystem from the widest variety of industry thought leaders.
Gust
SEPTEMBER 17, 2014
'Since Bill Hewlett joined with Dave Packard in 1939 to create what is today the world’s largest personal computer company, there has arisen an evergreen debate as to who is more important in starting a tech company: the techie or the business guy? Steve Jobs or Steve Wozniak? Bill Gates or Steve Ballmer? Jim Clark or Marc Andreessen? I propose that it is time to reject the notion of the “business guy” (or “business gal”) entirely.
Both Sides of the Table
SEPTEMBER 18, 2014
'Somehow the world seems to be spinning faster these days than just a few years ago. The frantic pace of technology cycles, the amount of tech news, the blogs, the conferences, the demo days, the announcements, the fundings, the IPOs. It’s exhausting. Perhaps unsustainable. It got me thinking about the advice that I often give to new VCs. For years I saw myself as the new guy in VC but then you wake up one day and realize that 50% of your peers have been doing it for less time than you and
Gust
SEPTEMBER 14, 2014
'MIT Chapel, Cambridge Mass via Wikipedia. Some entrepreneurs forget that they can’t use people the same way they use technology to build a startup. Inventors, for example, are skilled in manipulating technology, but may have little interest or experience engaging people to make an effective team. Unfortunately, startups are not one-man shows, so entrepreneurs need to study leadership as much as they study technology.
Gust
SEPTEMBER 13, 2014
'The world’s fastest growing tech startup ecosystem. A much more tightly knit startup community, compared to the larger but more diffuse West Coast community. Access to many, many more world market centers (advertising, finance, fashion, media, food, etc.). A city that from the Mayor on down is devoted to helping the tech startup community expand exponentially.
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Both Sides of the Table
SEPTEMBER 13, 2014
'I wrote a version of this post four years ago but given the hectic nature of today’s tech markets I thought it was worth revisiting and updating. Canceling meetings is a part of modern day life. I seem to get so over programmed that if I ever want to have a “break-out” unplanned trip somewhere I seem to have to reschedule meetings.
Tomasz Tunguz
SEPTEMBER 16, 2014
Startups are intense experiences. Driven by a burning passion to change some aspect of the world, startup teams push, push, push to grow as fast as possible. Without the right balance, though, teams burn out - a terrible outcome. One of the most important responsibilities of every startup’s management team is to shepherd their teams to maximize their performance and prevent burnout.
Tomasz Tunguz
SEPTEMBER 15, 2014
After reading a few of the S-1 analyses on this blog , an entrepreneur asked me to look into the balance sheets of public SaaS companies. More specifically, how much cash should SaaS hold? How much equity do they raise? And do they employ debt to grow? The chart above shows the median cash on the balance sheet by year of founding for publicly traded SaaS companies.
Tomasz Tunguz
SEPTEMBER 17, 2014
Jason Fried, co-founder of 37Signals and Basecamp , published a blog post today called Faith in Eventually that captures the emotional tensions of building a product: During the development of most any product, there are always times when things aren’t quite right. Times when you feel like you may be going backwards a bit. Times where it’s almost there, but you can’t yet figure out why it isn’t.
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Tomasz Tunguz
SEPTEMBER 18, 2014
Yesterday, SAP announced it would acquire Concur for $8.3B, the single largest SaaS acquisition in history in dollar terms. To put this acquisition in context, I looked at six other public-to-public acquisitions, where one publicly traded company acquired another. Because the acquired target is public, much of their financial information is readily available.
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