The Trap of Relative Value
Yesterday, at The Calloway Way event at MIT, I ran into Joe Caruso . I’ve known Joe for a while – we met through Techstars Boston, where he’s been a great mentor and very active angel investor. He had just read my post on being uncomfortable with the phase of the current cycle and told me an anecdote from the great Internet bubble of 2001 that I hadn’t heard. A guy came up to me and said “I just sold my dog for $12 million.” ...