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Here’s Why a Booming Tech Market May Fool You into Thinking You’re Successful

Both Sides of the Table

Since 2009 we’ve been in an unequivocal bull market. Make sure your board challenges you enough about long-term vision & innovation. And I can tell you from 20 years of experience that if your revenue figures are strong very few boards will challenge you beyond your short-term financial successes and 12-month plan.

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This Week in VC with Dana Settle of Greycroft Partners

Both Sides of the Table

Closing a VC fund in 2009/10 is a major achievement in and of itself. Founded in November 2007 in New York City by Alexis Maybank and Kevin Ryan (co-founder of DoubleClick); CEO is Susan Lyne (ex-CEO Marta Stewart Living Omnimedia) Revenue estimates: $50mm in 2008; $170mm in 2009 (versus budget of $150mm); $450mm forecasted for 2010.

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Praying to the God of Valuation

Both Sides of the Table

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?

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Upfront Ventures Raises > $650 Million for Startups and Returns > $600 Million to LPs

Both Sides of the Table

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.

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This Week in VC Episode 6 with @Jason Calacanis: Best One Yet

Both Sides of the Table

Following Microsoft’s addressable advertising trials with NBC in June 2009, many suspect that Google’s investment may have some defensive motivations, as well. Swipely – Blippy competitor founded by TellMe founder, Angus Davis, in Fall 2009. Addressable advertisements are capable of being targeted to the individual household.

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Upfront Ventures Adds Hamet Watt as New Investment Partner

Both Sides of the Table

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. While I or other full time partners may sit on the boards of 8-10 companies each Hamet will sit on the board of 4-5.

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When Should Technical Founders Become CEO?

Both Sides of the Table

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.

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