Understanding Privilege – My Experience in Prison
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
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
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.
If you are in the San Diego area Thursday at the end of the day I’m doing a public event with Techstars and San Diego Sports Innovators from 6pm – 7:30pm called Sports, Startups, and San Diego: An Evening with Brad Feld. It’s free but you need to register here.
One of the podcasts in my regular rotation is Turnpikers. Luke Beatty and Danny Newman – both long time friends – are doing an awesome job interviewing interesting people in the Boulder – Denver startup community. If you don’t know the area, Turnpikers stands for U.S. Route 36 (known locally as “36” or sometimes “Highway 36”). But the locals call it the Boulder Turnpike. So, those of us who travel up and down 36 between Boulder and Denver are known – at least to Luke and Danny – as Turnpikers.
The day after the election, Alex Iskold (Techstars NY Managing Director) wrote a great post titled Dear Founders, I Commit to Double My Support For You and Your Startups. It’s vintage, wonderful Alex along with a series of specific things he’s going to do. Work even more closely with the founders to help them with their financings. Help founders drive up revenue, achieving profitability and independence. Send even more introductions, connect even more people. Answer every single email and every single tweet from a founder. Meet more founders in NYC and around the world and give feedback. Always iterate on my calendar and make more time for the founders. Speak at public events in NYC and around the world about entrepreneurship. Blog more about topics founders care about and want to read about. Publish my (long in the works) book for founders. Today, Alex wrote a post titled Introducing Techstars Weekly Diversity and Inclusion Office Hours for Founders in NYC. Every Tuesday from 5pm – 7pm a group of Techstars employees in NY will meet with any female, minority, LGBTQ, or immigrant founder about anything. Sign up here.
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.
My partner Seth sent out an email to our CEO list this morning titled Taking a deep breath after we received several emails from CEOs with questions along the lines of “how should we think about the result of the election / what should we do?” After I saw a few responses to Seth’s note, I asked if he was ok with me republishing it here. I realize that very few of you who read my blog are on our CEO list so I hope it’s helpful to you to see what Seth sent around.
Yesterday morning I woke up and said out loud “I accept whatever the outcome of this election is.” I decided that whatever the outcome, I had spent all the emotional and functional energy I wanted to on the election. I was public about my point of view. I advocated for my perspective. And I voted. In our democracy, I accept the outcome. I’m a long term optimist and hold that value front and center.
Please vote. Just so you know my bias before reading further, I’m voting for Hillary Clinton. This post is not aimed at you if you have already decided to vote for Clinton or for Trump. It is aimed at you if you haven’t voted, are considering not voting, or are voting for someone other than Clinton or Trump. At this point, especially in states like Colorado where it appears the election will be close, action other than a vote for Clinton is essentially supporting Trump. Regardless of your perspective about the candidates, the election process, our current system, or anything that needs to be changed going forward, either Clinton or Trump is going to be elected president by Wednesday.
Each quarter Cooley does a VC market update. This quarter they interviewed me as part of it on Quarterly VC Update: Brad Feld on the State of Venture Capital Investing. The full Cooley Q3 report includes a bunch of data and trend graphs which I encourage you to go take a look at. The interview with me follows. Based on Cooley data for the quarter, how does your experience in the market compare? Similar/different? The tone of Q3 felt like a continuation of Q2 with summer vacations tossed in. The existential freakout that occurred in January and February seemed like the distant past with the lingering hangover being a clearer focus on valuation and overall funding needs from new investors. While there are a few clear trends in the data, such as lower valuations for Series A through C rounds and more flat rounds, the overall changes from Q2 is not dramatic.