One of the philanthropic activities that Amy and I have been doing is helping fund documentaries around issues that we care about.
When she told us last summer about her new documentary called Bias, Amy and I jumped on the opportunity to be the executive producers. The sizzle reel is out and was shown at Mark Suster’s Upfront Summit. Take a look (click through to watch on Vimeo.)
Sunday morning Fred Wilson put up the following blog post: A $20,000 Match Offer On ACLU Donations Today. Joanne Wilson put up a similar post titled A $20,000 Match Offer On ACLU Donations Today on her blog.
It came after a flurry of emails that started with one from me at 7:41am.
“Inspired by Chris Sacca, Amy and I are considering doing an ACLU grant with a 100% match”
Joanne, Fred, Amy, and I were all distressed by Trump’s executive order on immigration, which Fred wrote about in Make America Hate Again and I wrote in Unsettled and Disgusted. We had seen the ACLU already jump into action so we collectively decided to do something about it by supporting it.
Fred’s partner Albert Wenger and his wife Susan Danzinger had already started a match for $15,000 so we (Fred, Joanne, me, and Amy) agreed that when they maxed out they’d hand the ball to us to match for another $20,000.
Jet lag then ate my soul and I went to sleep for a few hours. When I woke up, Amy said “we did something good while you were asleep.” I had well over 100 tweets with ACLU receipts, Fred had started a spreadsheet of all the matching gifts, and we had blown through our $20,000 match. By the end of the day, we were over $90,000 of matches with more coming in so we stopped counting and, with our $20,000, were easily over $100,000 to the ACLU in one day, which started with Fred’s blog post.
By the end of the day it had picked up enough speed to become a TechCrunch article: Some tech executives are matching ACLU donations amid immigration ban protests.
We know more executive orders on immigration are expected. Bloomberg is hinting Trump’s Next Move on Immigration to Hit Closer to Home for Tech. Regardless of how this plays out, I’m hopeful that Congress will step up and do their job at this point, rather than just let executive orders slide by, create chaos, and get litigated in court. Remember – Congress makes the laws and the President is supposed to execute the instructions of Congress.
In the mean time, thanks to everyone who contributed to the ACLU match yesterday. We helped the ACLU raise $24 million since Saturday morning. For perspective, the ACLU typically raises a total of $4 million in a year. Amy and I have been long time ACLU supporters and I expect they will have an outsized and important role in our democracy in the next four years.
I recently joined the Defy Ventures board. If you aren’t familiar with Defy Ventures, here’s a post that I wrote after my first prison trip with them at the end of last year.
Early this morning, on my run in Melbourne as I tried to shrug off jet lag, I listened to a Reboot podcast that Jerry Colonna did with me and Cat Hoke, the CEO of Defy Ventures, a few weeks ago.
I had tears in my eyes while running, and I don’t think it was from my pace. Among other things, I’ve committed to bring Defy Ventures to Colorado in 2017. If this is something that is interesting to you either reach out to me or keep your eyes open for a broader fundraising initiative coming up (we’ve already raised 40% of the money needed to do this.)
And – enjoy the podcast. I think it’s one of the most powerful (at least to me) that I’ve participated in.
Several months ago I agreed to be part of a funding campaign for Gaza Sky Geeks. This is an organization that we had previously supported through the Techstars Foundation, which is how I was introduced to them.
The goal was simple – provide enough funding for a generator for the organization. I can’t remember what the first goal was, but I think it was around $60,000 total.
The support for this effort has been awesome and the campaign has expanded as it blew through the original $60,000 goal. The handful of initial supporters has expanded to a now impressive list, that includes recent support from Marc Benioff.
The campaign is now shooting to raise enough money to Launch Gaza’s First Coding Academy. There are two days left in the campaign and are currently at $210,000 of a $270,000 goal.
If you are game to donate, please give us a hand. And spread the word.
If you are curious about the matching funds, they are coming from the following list of people.
Marc Benioff: Founder, Chairman, and CEO, Salesforce
Brad Feld: Managing Director, Foundry Group
Paul Graham: Co-Founder, Y Combinator
Eric Ries: Entrepreneur, blogger, and author of The Lean Startup
Dave McClure: Founding Partner, 500 Startups
Fadi Ghandour: Co-Founder, Aramex
Badr Jafar: CEO, Crescent Enterprises
Hala Fadel: Partner, Leap Ventures
Jon Bradford: Co-Founder of F6S and Tech.eu
Freada Kapor Klein: Partner, Kapor Capital
Mitch Kapor: Partner, Kapor Capital
Zahi Khouri: Founder, Chairman, and CEO – National Beverage Company – Coca Cola Palestine
Samih Toukan: Chairman of Jabbar, Co-Founder of Maktoob and Souq
Blaise Aguera y Arcas: Principal scientist, Google
Mustafa Sezgin: Head of Engineering in Amsterdam, Uber
Khailee Ng: Managing Partner, 500 Startups
Jenny Lawton: COO, Techstars
David Cohen: Co-Founder, Techstars
Christopher Schroeder: Investor and author
Gisel Kordestani: COO, Crowdpac
Hussain Al-Shorafa: Co-Founder, Second Act
Zohre Elahian: Co-Founder and Board Member, Global Catalyst Foundation
Zoe Adamovicz + the Neufund Team
Krista Marks: CEO, Woot Math
In September, I joined the board of Kauffman Fellows.
If you aren’t familiar with the Kauffman Fellows Program, it recently celebrated its 20th anniversary. I was around at the beginning, spending a day a month in Kansas City with the Kauffman Foundation as an entrepreneur-in-residence when the program was originally created by a team at the Kauffman Foundation to identify, develop, and network the next generation of global leaders in the venture capital industry using a two-year apprenticeship program. In 2003, it was spun out of the Kauffman Foundation into a separate non-profit but, at the 20th reunion in Kansas City, the Kauffman Foundation made a new gift to the Kauffman Fellows Program to accelerate the midwestern venture capital ecosystem.
Kauffman Fellows now has almost 500 Fellows in 40 countries across the world. The power of the network and how it impacts both the venture capital industry and the startup ecosystem is profound. Some of the early Kauffman Fellows are now leading major firms. Consider a few people from the first three classes, including Jason Green (Emergence), Rob Coneybeer and Ravi Mohan (Shasta Ventures), Susan Mason (Aligned Partners), Jennifer Fonstad (Aspect Ventures), and Bryan Roberts (Venrock).
As someone who is now 20 years into his own journey as an investor in companies as well as other VC funds, when I was approached about joining the board by Jeff Harbach, the CEO, it was an easy yes for me. After spending some time with Jeff, who recently took over the CEO reins from long time CEO (and now Chairman) Phil Wickham, I realized that by engaging with Jeff and the board I could support a new CEO running a non-profit organization to train the world’s future VCs. Jeff blew me away with his vision and energy, which is the primary driver for me – beyond the mission of the organization – when I engage with a non-profit.
In one of our longer conversations, Jeff focused on the non-investment activities that he viewed as critical to the success of investors. We talked about topics like authenticity and mental fitness. We talked about a common paradox – the more you learn, the more you realize you don’t know – and how difficult it is to acknowledge and process this concept in whatever context it appears. I’ve experienced this many times in my career and have deep empathy and understanding around the challenges. I believe that peer-mentorship, one of the key activities of Kauffman Fellows, is essential here.
Anyone who knows me knows I’m a strong advocate for diversity across all dimensions. This is not new for me in business – when I was at the Kauffman Foundation, I heard it, among other values that I cherish, as being attributed to Mr. Kauffman. When I looked around the room at the Kauffman Fellows Reunion, it was easy to see why they are having a huge impact on diversity in venture capital, with over 30% of the most recent class being women, 11% being African-American, alongside numerous participants from all over the world.
Kauffman Fellows is not necessarily for people just entering the venture industry but for experienced VCs looking to accelerate their growth. The program is centered around established innovation leaders – if you are looking to grow and become a better investor you should think about doing this program.
I talk often about being intrinsically motivated by learning. It’s the primary driver of most of my activity. When I struggled with a depressive episode in 2013, I realized that I had a glitch in my thinking about my own motivation. I had separated learning and teaching into different concepts. As I have gotten older, I am spending a lot more time teaching, which was taking away from time I had previously spent learning, and that was bumming me out. When I thought harder about this (with the help of my therapist), I realized that I learn an enormous amount in contexts where I’m also teaching. Consequently, I was able to repair the glitch by linking the concepts of learning and teaching as the core of my intrinsic motivation.
By joining the board of Kauffman Fellows, I get to do both. I’m now a node on another network – one shared by 20 years of experienced VCs around the world as they work together to help identify, nurture, and develop the next generation of VCs. I expect I’ll teach a lot, but as with many things in life, will learn even more.
Jeff – thanks for asking me to be a part of things. I’m honored.
When I woke up this morning, I wondered which non-profit that I should highlight today on #GivingTuesday.
Path Forward began as a program at Return Path, a data-solutions company with more than 500 employees in 12 offices around the globe. The company’s CTO, Andy Sautins, came up with the idea of an internship program aimed at women who were interested in returning to work after a career break. The program began in 2014 with just one participant. Under the leadership and guidance of Cathy Hawley, VP of People, the company brought in six women in January 2015, four of whom were hired. The program expanded later that year to include a larger cohort at Return Path and also to bring in partners who also wanted to create return to work programs. The first partners were PayPal, SendGrid, ReadyTalk, Moz, and MWH. Along with Return Path, these companies assembled a cohort of nearly 40 women and men. From this, the idea to create a nonprofit focused on bringing return to work programs to even more companies was born.
If you want to support an organization that supports women (and men) who want to return to the workplace after an extended absence for any reason (health, children, aging parents, or caregiving of any nature), consider making a #GivingTuesday gift to Path Forward.
A month ago Mark Suster (Upfront) and I hosted 75 colleagues for a full day at the California State Prison, Los Angeles County – also known as Lancaster. We did this as part of Defy Ventures, an entrepreneurship, employment, and character development training program for currently and formerly incarcerated men, women, and youth. It was a top 10 peak life experience for me – easily one of the most profound things I’ve experienced to date.
Mark wrote an incredibly detailed post about the experience. Rather than repeat it, I’m going to point you to his post How I Promise You One of the Most Meaningful Days of Your Life. In order to understand this post, you have to start there. So – go read it now – I’ll be here when you get back.
If you want more views of the day, read Ali Berman’s (Techstars) The Day I spent in Prison, Kerri Shea Beers’ (Techstars) White Privilege, Prison, and a Shot at Redemption, Ben Casnocha’s Visiting Prison Again — With Defy Ventures, Caroline Fairchild’s (Linked) I spent 12 hours in prison with 75 venture capitalists and founders. Here’s what happened, Rick Klau’s (GV) Last month, I went to prison. Next month, I’ll return, Jason Wang’s Going back to prison as the founder of my own startup, Kobie Fuller’s (Upfront) How a day in prison could give you a lesson on judgement, and Kara Nortman’s (Upfront) Spending a day in prison lead me on a path of radical self-improvement. Everyone wrote about the same day (we were all together) if you want to triangulate on the experience.
I’m going to focus on the part of the day where I finally began to understand the notion of privilege. It’s worth starting with one of the definitions from the Merriam-Webster Dictionary:
“the advantage that wealthy and powerful people have over other people in a society.”
The exercise lasted about an hour and was just before lunch. We’d had a lot of interaction with the EITs (we are volunteers, they are entrepreneurs in training or EITs) and were feeling as comfortable as one can feel in a level four maximum security prison. Catherine Hoke, the founder and CEO of Defy who ran the event, told us it was time to shift gears. As she described what we were going to do, she told us that it was imperative that we respond honestly. This wasn’t going to be a legalistic exercise, but it was going to be uncomfortable. We then got the rules.
The exercise was called Walk the Line. There were two strips of tape running diagonally across the gymnasium we were in. They were a yard apart. The EITs lined up on one side. The volunteers lined up on the other. We then all took five steps back from the line. As Cat called out questions, if our answer was yes we walked to the line. If our answer was no, we retreated to our position five steps behind the line. We were instructed to look around and connect visually with empathy across the line. We were not to look at the ground or at Cat. We were allowed to shake hands across the line and hug on our side of the line. Cat ended by reminding us that the dominant emotion we should be carrying is empathy.
She then started asking us questions. I’m going to list them all below along with comments in italics on how I felt in response to some of them. I encourage you to read them out loud – it’s the only way you will go slowly enough to really understand what was going on. Each question consumed about a minute as people walked to and back from the line, shook hands, looked at each other, hugged, and cried.
- I like hip-hop.
- I work out 3 or more days per week.
- I’m older than 20 years old. 25. 30. 40. 50. 60. 70.
- I dropped out of high school.
- I’ve earned a four-year college degree. Suddenly, I had a feeling about what was to come. Every EIT was away from the line. Almost every volunteer was on the line. This was an almost complete reversal from the previous question.
- I’m a natural-born hustler. There were lots of smiles as both sides were generally on the line.
- I’ve been self-employed or started my own business, legal or illegal. The smiles continued, with some chuckles interspersed, as a lot of people on both sides were on the line.
- I’m committed to starting my own business. 100% of the EITs were now on the line.
- This is my first trip to prison. Very few EITs were on the line at this point, meaning many had been in prison before.
- I felt at least a little nervous about coming to this event today. 100% of the volunteers were on the line. 100% of the EITs were on the line.
- I regularly feel judged by others … for skin color or economic status. The volunteers take a step back, the EITs stay on the line.
- I regularly judge others.
- I regularly judge myself.
- I came here to give of myself.
- I came here to take or to receive for myself.
- I can already feel myself comparing myself to others, or judging myself or others, right now. 100% of the people on both sides are on the line. Cat reminds us that we are answering honestly and thanks us for doing this.
Even if I don’t know all of you at this line …
- I will to do my best to set aside my judgments and comparisons so I can connect with you.
- If you become vulnerable in this exercise, I will show you respect and will do my part in creating a safe and reassuring environment for you.
- If I see or sense pain or vulnerability, I will offer a hug to reassure you. Both sides of the line are full. I feel anxious all over – I’m sweating and staring ahead across the line, making eye contact in a way that I think is empathetic with the person directly across from me. He looks uncomfortable. I feel uncomfortable.
- I grew up in poverty. Boom.
- My parents paid for braces to straighten out my teeth. All the EITs are off the line.
- I heard gunshots in my neighborhood. (wave for “a lot”) All the EITs are on the line. Several volunteers who I know are on the line.
- I was suspended or expelled from school. Almost all the EITs are on the line. Several volunteers are on the line.
- Violence took place in my home. Again, all the EITs are on the line.
- Think of the age when you lost your innocence: I lost my innocence after age 18, 16, 14, 12, 10, 8, 6. As the count down begins the EITs are on the line while the volunteers quickly back off the line. By age 6 there are still a startling number of EITs on the line. I have tears in my eyes as a wave of emotion comes over me. I don’t feel like I lost my innocence until sometime in my early 20s. I can’t imagine self-identifying with losing it younger than age 6.
- For most of my childhood, I was raised with both of my biological parents in the same house.
- At least one of my parents wasn’t exactly a positive role model for me – or wasn’t even around.
- I was born out of wedlock. I was born to a teenage mother.
- At least one of my parents abused drugs or alcohol.
- I suffered through the loss of an immediate family member before the age of 18.
- My mother or father has been to jail or prison. At this point, the patterns are clear. The EIT directly across me stays on the line through all these questions but the first one. I’ve been off the line since the first one. Now he has tears in his eyes. I keep his gaze while thinking how fortunate I am to have had my childhood and not his.
My beliefs and values before the age of 18
- I learned that I couldn’t trust anyone. It continues. Now I have tears again. He smiles at me. He breaks my gaze and looks at the person next to me. I use this moment to look up and down the line on my side. Very few volunteers are on the line. One who I know is on the line and is crying openly. But we continue.
- I learned that it’s better to keep my mouth shut and my feelings to myself.
- The way I was living, I thought there was a good chance I wouldn’t make it to age 21. There are hugs on our side of the line as we process what is going on. At this point the word privilege isn’t being used (nor does it get used openly throughout the day), but the idea of privilege and how it impacts one’s belief system and values is what is front of mind for me.
Past Criminal life – Cat reminds us that Defy doesn’t work with criminals, but with people who have committed crimes in their past.
- I’ve been arrested.
- I’ve done criminal things for which I could’ve been arrested, but didn’t. (drunk driving, weed) A series of experiences run through my mind as I think of how different things could be for me if I hadn’t grown up white and middle-class in the suburbs of North Dallas.
- I’ve committed a violent offense (even if I wasn’t convicted). Cat stays on this for a while. As all the EITs are on the line, a few volunteers join them. Cat isn’t satisfied and calls out “a bar fight is a violent offense” and a dozen volunteers sheepishly walk to the line. Then a few more do. And we sit with this one for a while.
- I’ve been convicted of murder.
- I was sentenced before 18 years of age. I’m ready for this experience to end. Between 25% and 50% of the EITs are on the line. All of them are black. Another switch just flipped in my brain.
- I’ve spent more than two years of my life in behind bars. 4. 6. 8. 10. 12 (go all the way up). Guys that look like they are in their 30s are hanging on the line through 20 years. We keep going. 30 years. 40 years.
- I’m a lifer. Yup – there are a bunch of EITs on the line.
- I’ve actually been shot or stabbed.
- I’ve lost someone I loved to gang violence.
- I’ve lost someone I’ve loved to AIDS. I was one of the few volunteers on the line for this one. I didn’t expect this question at all and it sent me back to my late 20s when my fraternity big brother died of AIDS. I remembered the dream I had on an airplane just before he died but about a week after he called me to say goodbye. I kept looking ahead at the EITs on the line.
- I’ve lost one or both of my parents.
- I’ve lost a child.
- I haven’t properly grieved some of my losses.
- I have suffered, or currently suffer, from depression. A lot of volunteers are on the line along with me. I feel a sense of relief that the stigma associated with depression might be lifting, but then I remember the context I’m in.
- I could use a hug right now. Everyone walks to both sides of the line. Hugs ensue.
- I’m a father (or mother).
- My lifestyle caused me to miss out on valuable years in my child’s life.
If you could see inside my brain …
- If you knew every one of my dirty secrets, and knew the real me, you wouldn’t love me.
- I feel ashamed of my past.
- I feel inadequate, at least in some ways.
- Sometimes my feelings of inadequacy lead me to overcompensate in some areas, or act out.
- There are some things I haven’t forgiven myself for, and may never forgive myself. A number of volunteers walk to the line, including me. I thinking of a specific thing that has happened to me as an adult. It’s something I don’t talk publicly about because I haven’t yet resolved it myself. Or, more honestly, I haven’t forgiven myself for letting it happen to me. I feel ashamed against the backdrop of everything else.
- There are some people I haven’t forgiven for hurting me.
- Not forgiving others or myself is hurting me to this day.
- I am kind to myself; I do a great job of nurturing myself and taking care of my own needs.
- I’m on a journey of personal transformation. Almost all of the EITs are on the line. People are starting to smile again.
- Others look at me as a role model. I’m aware of the importance of my influence.
- I might not be able to explain it, but even though I’ve been revealing difficult things and have made myself vulnerable in this exercise, right here, right now, I feel safe, accepted and loved.
- I already love Defy!! Everyone on both sides is on the line.
I know that words above doesn’t do the experience justice, but at the end of the hour I was emotionally exhausted. There were at least 25 of the EITs who I had made eye contact with that I wanted to go talk to. There were an equal number of volunteers who I wanted to talk to. Instead, I tried to relax a little. I grabbed on to one word – privilege – that I knew represented a fundamental difference between most of the people on either side of the line.
While it’s easy to talk about privilege it’s hard to really understand it. It’s even harder to experience it if you are the one with privilege. I thought I understood it, but I didn’t. As I let the next five minutes quietly unfold in my mind, I decided that I was no longer going to assume I really understood privilege. Instead, I was going to engage with society in a way to help those without privilege have a better opportunity. Through that, I’d understand it better, have empathy for others who didn’t have privilege, and channel my actions as a human into making the world better from that frame of reference.
I’ve committed to go to prison with Defy four times in 2017. If you want to join me as a volunteer on one of the trips, just reach out. I can promise you a life changing day.
SRS Acquiom and Pledge 1% have teamed up to created EscrowUP by SRS Acquiom. As investors in SRS Acquiom and members of Pledge 1%, we are excited about the creative idea the two organizations have come up with to increase charitable giving as a result of merger transactions.
When one company buys another, a portion of the proceeds (usually between 10% and 20% of the deal) goes into an escrow account for a period of time (usually a year or two). This escrow is used to cover any undisclosed or agreed to liabilities that come up for this period of time after the transaction. One of the shareholders, called a shareholder rep, is responsible for managing all the activity on the sellers side. It’s a thankless task and a number of years ago my partner Jason Mendelson helped create SRS Acquiom to address this. Instead of a VC, board member, or founder being the shareholder rep (and doing what can turn into a lot of work for free), you can now outsource this to SRS Acquiom.
The money kept in escrow is typically held by a bank. Not surprisingly, the bank makes a spread on the money for doing nothing other than holding the money. Often, the accounts are interest free because it makes tax and accounting easier, and the interest on the escrow accounts isn’t material in the context of the individual deal. But, the numbers across multiple deals adds up. Therein lies and interesting opportunity.
Imagine the following situation: Assume GiantCorp agrees to buy AwesomeStartup for $1 billion. As part of the deal, GiantCorp insists that $100 million of the $1 billion (10%) be put in escrow for 18 months after closing to ensure everything AwesomeStartup represented about its business is true.
GiantCorp and AwesomeStartup could agree that the escrow will either go into an interest bearing or non-interest bearing account. Whatever they select, they get the same terms with EscrowUP as they would without it so there is zero impact to them. But if they agree to have it participate in EscrowUP, then money goes to charity.
That money comes from SRS Acquiom, not out of the deal parties’ pockets. SRS Acquiom gives a portion of their revenue (up to 24 basis points) from the deal to the awesome group of designated charities that support entrepreneurs.
The result is that up to $360,000 would to go to the designated nonprofits from this single example deal of GiantCorp buying AwesomeStartup. If lots of deals join in, it drives many millions to Pledge 1% and the other nonprofits.
For a different summary, Erin Griffith wrote a good article in Fortune titled How the Merger Boom Can Drive Donations to Charity.
One of my core values is diversity of everything.
I’ve been involved deeply in several organizations, such as National Center for Women and Information Technology, that have been focused on increasing gender diversity in computer science and entrepreneurship. More recently, I’ve expanded my lens a lot to include many other dimensions of diversity. The mission of the Techstars Foundation, which is improving diversity in tech entrepreneurship, is an example of that.
One thing that I learned from my work with NCWIT is the power of examples. So, Amy and I have been supporting independent filmmakers for a few years. The first film we helped fund was CODE: Debugging the Gender Gap. Then, following the leadership of Joanne Wilson, we helped fund Dream, Girl which you can watch for free on their website until November 14th.
Recently, a group of us have been helping a young filmmaker, Ashley Maria, who is on her own personal journey to find out why careers are much more complicated and difficult when a woman tries to have one.
Pioneers in Skirts focuses on cultural and personal setbacks women still face in our society when they pursue a career. The film focuses on hot social topics that women encounter – like the mommy penalty and unconscious biases we find in our culture, the need for mentorship, sponsors, and men to advocate for their female co-workers, and how to nip the problem in the bud during adolescence.
Pioneers in Skirts is currently in post-production aiming for an early 2017 premiere in festivals and then VOD, Streaming and Television. Ashley and team need a little more funding to get things done so if you are inclined to support an ambitious young female filmmaker working on what Amy and I think is an important film, go to her support page and make a donation to the effort.
Tami Forman, the Executive Director of Path Forward (a new non-profit that I recently joined the board of) just did a powerful five minute presentation on making space for moms in the workforce. I knew that Tami was a great speaker because of my interactions with her at Return Path, but she just totally blew me away with this talk.
My favorite one liner in the talk is “In the S&P 1500, there are more CEO’s named John than women CEOs.” This is definitely worth five minutes of your life to watch right now.