Tag: dave jilk

Feb 16 2017

Ode to Keystone

Dave Jilk, my first business partner and one of my closest friends, wrote the following Ode to our Keystone house. For the poetry nerds out there, Dave informed me that this is a villanelle.

Recently, Amy and I decided to sell our Keystone House. We bought it a decade ago and have had a wonderful time with it. But, we’ve decided to spend the next 20 years in a different mountain town. Dave and his wife Maureen were frequent visitors and I recall many delightful Saturday mornings where I’d slowly wake up in the bedroom while listening to Amy and Dave discussing something from downstairs.

Dave – thanks for the Ode. It’s beautiful. And thanks for all the great times together in Keystone.

A structure, nothing more, where once we played:
Will memories we made there long endure?
The spirit of that house will never fade.

Four golden beasts, their role through years relayed,
Here welcomed family, friend, entrepreneur —
A structure, nothing more, where once we played.

Upstairs were puzzles solved and books displayed;
Below buzzed films or sports or Rock Band tour.
The spirit of that house will never fade.

Great field of snow, or sage, with hill and glade
Beside, two rocky peaks beyond, contour
A structure, nothing more, where once we played.

Each day we skied or hiked, or napped and stayed
Near fireplace communing themes obscure;
The spirit of that house will never fade.

O house at Keystone Ranch, be not dismayed
To cede this post, your history secure!
A structure, nothing more, where once we played,
The spirit of that house will never fade.

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Jul 2 2012

The Simple Formal Beginnings Of Feld Technologies

My first business partner, Dave Jilk, emailed me our original partnership agreement for Feld Technologies. It’s one page.

We incorporated a month later as an S-Corp. It cost us $99 to do this – I remember using an organization called The Company Corporation – we called an 800 number, gave them some information, and the documents were automatically generated and filed. A short letter agreement specifying the equity splits and the boilerplate legal docs were the only legal docs we had until we sold the company in 1993.

As my partner Jason Mendelson told me after I sent him this the other day, “If things go well, it’s fine. If they don’t, it’s a fucking disaster.”  And he’s completely correct – in this case things went well so there were no issues.

I continue to try to do deals this way. I lay out the terms, will negotiate a little, but am clear about what I want. If it works, great. If it doesn’t, I move on. Once the simple terms are agreed to, I let the lawyers generate hundreds of pages of documentation to support the deal. I used to read every word on every page myself (I learned that from Len Fassler, who bought Feld Technologies). I still look through the documents, but I only work with lawyers who I deeply trust to do it right (like Mike Platt at Cooley) so I focus on the stuff that matters for the specific deal.

Trust matters more than anything else to me in a deal. Sure, I occasionally get screwed in a deal, but never more than once by the same person. And, for people like Dave Jilk and my dad, I’ll work with them over and over and over again because I trust them with my life.

Keep it simple. It’s much better.

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