Both Sides of the Table

AUGUST 30, 2010

This post was originally published in a shorter (more sensible) format in the Wall Street Journal online. If you’re short on time click on the WSJ link and read the 990 word version there. Otherwise, grab a cup ‘o coffee … Clicking on any graph below will take you to that article. One year ago I predicted that in 2010/11 the economy, far from being on the path of permanent recovery was on a temporary resurgence and there was a strong possibility of a “double dip” recession.

entrepreneurs 298

entrepreneurs real estate VC advice 298

This is going to be BIG.

AUGUST 2, 2010

First off, let me be clear that the opinions expressed here are solely my own and not that of my employer, or anyone else. The other day, Ron Conway said at an event that “ he hopes that any entrepreneur that has “the guts” to start a company gets funded.” Fred Wilson seconded that opinion , citing that “We need more entrepreneurship, not less.

startup 253

startup entrepreneurship mentorship venture capital 253

Berkonomics

AUGUST 23, 2010

When do you cross the line between honesty and dishonesty in tax planning? Is it ethical to allocate income between periods to take advantage of tax breaks? Can expenses be put off until the next period to increase income, or accelerated into this period by prepayment to decrease net income? Where do you draw the line, assuming no intent to defraud?

accelerator 54

accelerator 54

Both Sides of the Table

AUGUST 18, 2010

I suffer from the “urgency addiction.&# I know it sounds like one of the falsely humble things like telling somebody in a job interview that your weakness is that you’re too much of a perfectionist. But the urgency addiction is a bad thing that I’m fortunate enough to get away with. When I first discovered the concept I found it enlightening.

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mentorship creativity energy entrepreneurs 374

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development

Both Sides of the Table

AUGUST 6, 2010

I don’t generally blog about politics. It’s not my thing. I’m a socially liberal, fiscally conservative, non-party libertarian at heart. Most issues are really nuanced. I accept that on many issues there is no “right&# answer and rational people can disagree. Proposition 8 was passed in California by a margin of 52-48. It defines marriage as being between a man and a woman.

hospitality 343

hospitality communities education 343

Both Sides of the Table

AUGUST 10, 2010

An entrepreneur recently sent me an @ reply message on Twitter asking for some help with a decision coming up in his business. I get these frequently via Twitter, Facebook or email. I don’t mind. I can’t always get to them. Basically a request like this is stacking on top of my already large to-do list. But I do like to try and make time for some and I’ll admit I’m a bit random about it.

advice 332

advice entrepreneurs investing investment 332

This is going to be BIG.

AUGUST 22, 2010

This is me and my own opinions talking, not the firm that gives me money to eat. hopefully, that's pretty clear. In the past, I've heard lots of arguments about how New York City needs its own [insert something national]. "We need our own Techcrunch!". "We need our own SXSW!". "We need our own Google!". Honestly, I had never really put much stock in those ideas.

venture capital 232

venture capital innovation communities leadership 232

Both Sides of the Table

AUGUST 30, 2010

Seth Levine of Foundry Group addresses this important topic this morning on his blog with a post, “ Has Convertible Debt Won ?&# Seth was basing this on a Tweet by Paul Graham that said&#. “Convertible notes have won. Every investment so far in this YC batch (and there have been a lot) has been done on a convertible note.&#. I have to say that I didn’t take the question to mean that convertible debt had won for the entire market, but either way it’s clear that convertible

financing 319

financing finance entrepreneurs advice 319

This is going to be BIG.

AUGUST 3, 2010

At the AOL/SeedStart event last week at the Bowery Hotel, I got in a conversation about hugging. I’m more apt to hug female friends of mine from the startup world than I am in any other industry. That also goes for NoNeck. I don’t usually hug other dudes (except for my high school buddies… but all boys Jesuit prep schools are kind of like that), but NoNeck is well worth a squeeze.

startup 219

startup culture venture capital board 219

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financing

Both Sides of the Table

AUGUST 23, 2010

I was an early user of Quora and like all new technologies they take a bit of playing with them for a while, discussing them with others and reflecting on them to let them sink in. I’m no wall flower so when something doesn’t resonate I’m usually pretty vocal about it. With Quora , it was the opposite – something has always felt right but it took me a while to. really understand it.

board 301

board communities networking strategy 301

Both Sides of the Table

AUGUST 19, 2010

Yesterday I wrote a post about the " Urgency Addiction ” and how many people start important tasks late and then motivate with a huge wave of productivity and inspiration driven by deadlines and commitments to others. In the comments section Bill DAllesandro offered some insight that he had seen from Microsoft on "interruptions”. “A study by Microsoft showed just how lethal interruptions are to productivity.

advice 301

advice consulting entrepreneurs investing 301

Both Sides of the Table

AUGUST 1, 2010

There has been much discussion about VCs doing seed funding in the past year. I’ve written about it myself (Is VC Seed Funding Dead?) and (Is There Really a Signaling Problem with VC Seed Funding?). Short summary of my posts: 1. There is a structural reason that VCs are investing at early stages, 2. Many (Union Square Ventures, Foundry Group, True Ventures, GRP Partners, Mike Hirshland at Polaris Ventures) do it the right way – we treat it as a normal investment and we don’t h

VC 298

VC strategy investing investment 298

This is going to be BIG.

AUGUST 25, 2010

“Private Twitter for small groups” “BBM for every platform” “Reply-all for SMS” I could describe GroupMe in a lot of ways, but “really exciting” would have to be the most accurate one, and we’re very excited to announce it as one of our newest investments at First Round ( See the Techcrunch article here ).

investing 273

investing investment disruption venture capital 273

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technology

This is going to be BIG.

AUGUST 30, 2010

A lot of times, people tell me they like a particular founding team because they’re really smart. I’m not 100% sure what that even means, nor am I ever in a position to counter that. I fact, I don’t think I’ve ever taken a meeting where I didn’t feel like I was sitting across the table from someone intelligent. So, if everyone is smart, why even bother mentioning it as a differentiating factor?

startup 248

startup venture capital creativity technology 248

Both Sides of the Table

AUGUST 12, 2010

In the technology world there are a few websites that most startups track to keep up with the latest financings, acquisitions, product announcements and gossip: BusinessInsider, TechCrunch, Mashable, GigaOm, etc. In the VC & Private Equity world there’s a small number, too, with one of the most respected being PEHub. That’s thanks to Dan Primack , founding editor.

VC 232

VC venture capital entrepreneurs ventures 232

Both Sides of the Table

AUGUST 26, 2010

There are times to fight. I must admit it’s part of my DNA to enjoy a good fight (not as much as does Jason Calacanis, mind you ahem: Facebook. Er: Comscore , Cough: Angel funding payola ). But there are times to given in and compromise. Don’t confuse the two. When you give in, do so graciously. Take the high road. Act and feel zen.

real estate 340

real estate advice board development 340

Both Sides of the Table

AUGUST 17, 2010

The Hidden Impact of Technology on our Everyday Lives … There’s an old (semi true) parable about frogs boiling in water. While not literal it’s a fun and instructive metaphor for change. It goes like this: if you put a frog in boiling water it will sense the hot water and immediately jump out yet if you put it into cold water and very gradually turn up the temperature in the water the frog won’t notice and will stay in until it has boiled to death.

networking 320

networking technology media founder 320

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opportunity

Both Sides of the Table

AUGUST 15, 2010

The life of an entrepreneur is filled with 20 second opportunities. Some get converted into 5 minute opportunities or into a lifetime. Most are squandered. It starts in a crowded room at a conference or networking event. You bump into the person you’ve always wanted to chat with or your perfect business development partner who can “make” you. What are you going to say in the moment?

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pitching energy media opportunity 315

Both Sides of the Table

AUGUST 21, 2010

I’ve never made a public appeal before. Then again, I’ve never had a friend in need like my dear friend Colin Bower who is trying to recover his two kidnapped boys Noor (8) and Ramway (6). The short story: Colin & I have been close friends for 13 years when we started our MBA program together. We then both lived in London and our children played together.

support 302

support consulting financing finance 302

Both Sides of the Table

AUGUST 24, 2010

Two days ago I wrote about Quora. I’ve been loving the product even if it sucks up some of my time. I prefer my time go into a very focused Q&A website than into a more generic Facebook. What Quora has done is wrap social networking around Q&A with the more clever next-gen UX I’ve seen. But my post today is not about Quora, it’s about an answer that I wrote on Quora.

advice 294

advice networking communities entrepreneurs 294

Both Sides of the Table

AUGUST 8, 2010

Around a month ago I heard people talking about Twitter’s bucket test ( definition ) of their new personalized suggested user list and this past week I actually got to experience it myself. The results for me have been excellent and in this post I’ll explain why this is critical to Twitter’s continued adoption. Twitter has implemented its recommended users on your Twitter.com home page as the “who to follow&# (see graphic above) and you have a list of two recommended peo

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strategy networking 287

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B2B marketing

Both Sides of the Table

AUGUST 3, 2010

There is a telltale sign of an inexperienced startup entrepreneur. They get premature merge elation. You know, they get so excited about doing deals all the time instead of doing the hard work of figuring out their businesses. I understand this. I was a premature merge elater once. Here’s what I learned: 1. As a startup you shouldn’t focus on buying other companies until you’ve figured out your own business.

board 276

board culture advice consulting 276

Berkonomics

AUGUST 9, 2010

Over the years in business and as a member of over forty boards, I have received good advice from corporate attorneys and on occasion bad advice as well. There is a line that should be drawn in a relationship between corporate attorney and CEO or board. Attorneys are paid to protect the corporation, not to give business advice. Some are experienced enough to provide great business advice.

advice 48

advice board investing investment 48

This is going to be BIG.

AUGUST 11, 2010

These opinions are solely my own, for the record—not that of my employer, my family, or bald white guys in general. The other day, I unlocked the "I'm no racist" badge in the VC game. All I had to do was to name 5 black tech startup entrepreneurs in New York City when asked by a reporter to do so. Kidding aside, I did feel a totally misplaced sense of pride.

peer-to-peer 271

peer-to-peer VC entrepreneurship education 271

This is going to be BIG.

AUGUST 20, 2010

They say people won't pay for content. They say that paywalls are stupid and that its just not monetizable. Remember when they said that people wouldn't pay for music? What Apple proved, and what I suspect is the issue with web content, is that monetization was a product problem. I never would have paid for music back in 1999 or 2000 when I was sporting my 64mb Creative Nomad, powered completely ilegally by Napster.

venture capital 353

venture capital creativity sustainability capital 353

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The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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