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What Bear Markets Look Like

It’s hard to look at the price charts of the big crypto assets and not cringe. But it helps to look back to an earlier time, when a new sector was emerging, and understand what can happen. Amazon peaked in [...]  Read more

Giving Thanks

Happy Thanksgiving Everyone. I appreciate the annual ritual of surrounding ourselves with family, making a big dinner, and enjoying all of that. I also appreciate taking some time to look back on things and be thankful for what we have. [...]  Read more

Bleeding

The Nasdaq is down almost 15% from its labor day highs. Apple is down almost 25% in the last two months. Facebook is down about 40% since July. Bitcoin is down about 80% from its highs last December. Ethereum is [...]  Read more

The Kickstarter 2017 Public Benefit Statement

Our portfolio company Kickstarter is a Public Benefit Corporation. One of the requirements of a Public Benefit Corporation is that they publish an annual benefit statement outlining how they are doing living up to their PBC charter. This is Kickstarter’s [...]  Read more

The Overpay Critique

It is so easy to look at a headline announcing a deal and say “they overpaid.” I have done that myself plenty of times. It’s a natural emotional reaction. But what I have learned is that you can’t really critique [...]  Read more

Pivot or Fail?

The Pivot is celebrated in startup land. Huge successes like Twitter and Slack are all the results of pivots. So surely pivoting is a good thing, right? Well, I am not so sure. And I certainly don't want entrepreneurs to [...]  Read more