December Depression
December is a tough time of year for a lot of people. While the holidays are awesome for some, they are really hard for others. I know a lot of
December is a tough time of year for a lot of people. While the holidays are awesome for some, they are really hard for others. I know a lot of
I’m doing a Lunch & Learn with Defy Ventures on Friday 12/16 from 11:30am – 1:30pm. I’ve just joined the board of Defy Ventures and think it’s an extraordinary organization. If you are interested and around Boulder on Friday, please join us.
As we get to the end of 2016, I’m in many conversations about 2016 performance and 2017 budgets. While 2016 isn’t over yet, most SaaS companies know how things are going to end up within a few percentage points. As a result, their focus on 2017 is an extrapolation from how they have been doing in 2016, typically building on month over month activity. Since there are plenty of variables, the conversations are generally quantitative. In the midst of one last week, I said “why aren’t we talking about increasing conversions and lowering churn?” This was in response to a CFO who had modeled conversion rate and churn at a fixed percentage each month throughout the year.
At Foundry Group, we always look for companies that we think build magic into their products. Occipital has been one of those companies. Three years ago, they launched Structure Sensor, which pioneered bringing dense 3D sensing to mobile devices (and it’s only just now that are we seeing some of the world’s biggest tech companies catching up by launching similar technology to consumers). Since that launch three years ago, the team at Occipital has been quietly at work on their next product. Today, they’re announcing Bridge.
There are two great fictional TV series about technology and the computer industry that each have now had three seasons. The one everyone knows about is Silicon Valley. The lessor known one is Halt and Catch Fire. They are both dynamite but for different reasons. And, after three years and some reflection on my part, HCF decimates Silicon Valley (which is mostly a challenge to my friends who have writing credits.)
Amy and I watched the Amazon series Goliath last month. It was deeply awesome. Deeply deeply awesome. We also watched The Night Manager which we loved almost as much. And, at the end of each, I said to Amy, “They should end this now and not do a Season 2.” Goliath captured my attention more.It had amazing character development. Bill Bob Thornton, who I’ve always liked, was at his best, William Hurt was excruciatingly delicious, Nina Arianda made me root for her every time she said something, and Molly Parker had mastery over the role of ruthless, hateful, and utterly self-centered, manipulative lawyer. The filming, while against the standard LA backdrop, was rich and unique. There were many tense moments that just kind of hung on for an extra few beats, which I loved. Each of the eight episodes had at least one unexpected twist and turn. The backstory was complex and finally all came together in the last episode, which was magnificent.
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.
I love Alexa. Of all the various tech things I’ve bought in 2016, Amazon’s Alexa has become the most consistently used new thing in my world. I’ve even had a breakthrough on the home front as Amy now regularly says “Alexa, play …” We’ve got them everywhere and the Echo Dot that showed up in October is centrally located on my office desk at Foundry Group. On Wednesday, Techstars and Amazon announced the Alexa Accelerator, powered by Techstars. Applications will open in January and the first program will start in July 2017.
I turned 51 today. I’ve been telling people I’m 33 (since that’s my age in hex) and when I feel like having people say “whoa – you look a lot younger than that” I say I’m 63 (since that’s my age in octal). I like to look forward on my birthday instead of backwards, so when I woke up this morning I had a handful of things in my head for the next version of myself. So, here’s what I’m going to try to incorporate into v51.
Last month I had dinner at Pizzeria Locale in Boulder and did a long interview with Nick Chirls and Alex Lines of Notation Capital for their podcast. Dinner was about them and as they learned, if you trek out to Boulder, dinner is on me. Their podcast series is called Origins and is unique among podcasts as they go deep into the formation history of venture funds, especially from an LP perspective. I was their ninth interviewee following some really great ones including Beezer Clarkson (Sapphire), Naval Ravikant (AngelList), Chris Douvos (VIA), Michael Kim (Cendana), and Judith Elsea (Weathergage).