Startup Visa Interviews at O'Reilly Gov 2.0
I spent the previous 36 hours in Washington DC, primarily at the O’Reilly Gov 2.0 conference. I did a ten minute speech on the Startup Visa and a ten minute
I spent the previous 36 hours in Washington DC, primarily at the O’Reilly Gov 2.0 conference. I did a ten minute speech on the Startup Visa and a ten minute
I was thinking more about my post from yesterday titled Addressing The VC Seed Investor Signaling Problem. There were a bunch of good comments that caused me to realize that I wrote the post from the perspective of a VC, not an entrepreneur. As I mulled the comments over, I realized something very specific. If a VC invests in a seed round but then doesn’t invest in the next round, there is a signaling problem, regardless of what the VC does with their investment.
One of the most common criticisms of VC investors making seed investments is something that has become known as “the signaling problem.” The explanation of this problem is that VCs create a “negative perception” about a company if they make a seed investment but then don’t follow through and make a next round investment. Another way to say this is that a VC creates a “signaling situation” with their seed investment – if they don’t follow on in the next round they are “sending a signal” that something is wrong with the company (hence the label “signaling problem.”)
Now that my Apple and Google experiments have been huge successes, I thought I’d try an Android phone one more time. I like my iPhone 4, but it’s pretty weak with all the Google apps. Specifically, I badly want better contact integration, clean email sync, and Google voice. Plus, AT&T still blows in Boulder. Any suggestions out there for the “best Android out there today.” I was using a Sprint EVO for a while (and liked it a lot) until it was stolen by my assistant Kelly. So, I open to any choice – suggest away.
TechStars is coming to New York City. The first program runs from 1/10/11 to 4/8/11. Applications are open now. The NY mentor list is stunning and includes the following: Phin Barnes (First Round Capital), Alex Blum (KickApps), Matt Blumberg (Return Path), Brad Burnham (USV), Jeff Clavier, Dennis Crowley (FourSquare), Chris Dixon (Founder Collective), Roger Ehrenberg, Darren Herman (The Media Kitchen), Jennifer Hyman (Rent The Runway), Alex Iskold (Adaptive Blue), David Karp (Tumblr), Zach Klein (Boxee, Vimeo), Evan Korth (NYU/HackNY), Mike Lazerow (Buddy Media), Ben Lerer (ThrillList), Sam Lessin (Drop.io), Joey Levin (MindSpark, IAC), Howard Lindzon (StockTwits), Eric Litman (Medialets), John Maloney (Tumblr), Dave McClure, Hilary Mason (Bit.ly/HackNY), Jeremie Miller (Telehash), Howard Morgan (First Round Capital), Charlie O’Donnell (First Round Capital), Eric Paley (Founder Collective), Raphael Poplock (ESPN), Alex Rainert (FourSquare), Avner Ronen (Boxee), Naveen Selvadurai (FourSquare), Justin Shaffer (HotPotato), Tim Shey (NextNewNetworks), Andy Smith (Daily Burn), Rex Sorgatz (Kinda Sorta Media), Jon Steinberg (BuzzFeed), Vinicius Vacanti (YipIt), Albert Wenger (USV), Fred Wilson (USV)
Amy and I created a tradition about a decade ago we call “four minutes in the morning.” We try to – fully clothed – spend four minutes together every morning 100% focused on each other. I’m an early bird – usually getting up around 5am regardless of the time zone I’m in (except on the weekends – then I sleep until I wake up – sometimes 1pm.) Amy sleeps a little later (usually 6:30am). So – I often have around 90 minutes alone every morning, which I treasure. I have a well defined morning routine that includes a cup of coffee and 85 or so minutes in front of my computer.
Following is a post on super angels I wrote yesterday for PEHub. In the beginning, there were angel investors. And it was good. As individual angel investors made more and more investments, they became super angels. One day a super angel woke up and thought to himself, “Gosh, I could do a lot more investments if I had a fund.” And so the super angels became micro-VCs (or “institutionalized super angels”). Everyone was excited and on the seventh day they did another deal instead of resting.
We’ve shifted into a new zone in the world of software patent stupidity. A few weeks ago, Oracle sued Google over a series of Java-related patents they got when they acquired Sun. Last week, Paul Allen sued 11 major software companies, including Google, over four patents that were granted to his now defunct Interval Research think tank. Much of the early commentary has already been said. And, from what I’ve read, it’s not very generous to either Oracle or Paul Allen. One of the best lines is from James Gosling, the authors of RE38.104 (Method and apparatus for resolving data references in generated code) in his post The shit finally hits the fan. There has been plenty of speculation about the motivation of the Oracle patents and the speculation as to Paul Allen’s motivation is just beginning. Regardless, there are lots of lawyers in the mix advising their clients and devising strategies around these patents.
Every major software or web company I’ve ever been involved in has had a catastrophic outage of some sort. I view it as a rite of passage – when this happens when your company is young and no one notices, it gives you a chance to get better. But eventually you’ll have one when you are big enough for people to notice. How you handle it and what you learn from speaks volumes about your future.
Entrepreneurial communities grow up around smart people. Whenever someone in state or local government asks me what they can do to accelerate entrepreneurship, I always tell them to put as much money and energy as they can into education. If you build a broad base of smart, inquisitive, curious people that are long term members of your community (e.g. they don’t move somewhere else), you’ll be delighted with the results over a long period of time (think 20+ years).