Education_Selling

Education Selling

Pop quiz — is it easier to: (a) close a sale with a customer who already wants what you’re selling, or (b) sell to someone who’s not even aware they might want a product like yours, much less why they should buy it from you? Easy, right? Every day I meet entrepreneurs who beat their heads continue…

TD_BU

Invert, always invert

Charlie Munger (Warren Buffet’s long-time partner) is full of pithy maxims for investors, but one in particular has been ringing in my ears lately: “Think forwards and backwards — invert, always invert” By “inverting”, he means coming at any problem from (at least) two different and opposing angles. This is good advice in any situation, but continue…

Screen-Shot-2012-04-18-at-4.23.05-PM

Human Empowerment

I’m too fired up right now to do the topic justice, but I just read this pair of tweets from Alex Payne (someone I don’t know personally but have huge respect for by reputation) and the article / blog post he links out to, I and just couldn’t fit my reply into 140 characters. I continue…

Time

Investing Capital vs. Investing Time

Note: this post is one of several drill-downs on the topic of why angel investing and early-stage venture investing are not just different in scale, but different in type. The most exciting thing to happen in software investing over the past 10 years isn’t Facebook, or Twitter, or even Instagram. It’s the total collapse in the continue…

Maximum

Local vs. Global Maxima in Early-Stage Investing

Note: this post is one of several drill-downs on the topic of why angel investing and early-stage venture investing are not just different in scale, but different in type. Venture investors who seek to maximize returns face a difficult problem: unlike publicly-traded securities, private company investments are highly illiquid — no returns, no exchanges. In addition, continue…

GreedFear

Loss Aversion vs. Gains Maximizing

Note: this post is one of several drill-downs on the topic of why angel investing and early-stage venture investing are not just different in scale, but different in type. Most angel investors I know don’t consider their early-stage investments to be integral components of their personal investment strategy. Instead, they’re more often viewed as “off continue…

MountainPath

Investment Thesis: Four Years Later

Four years ago I began a new journey. After a 15-year career as a participant in and co-founder of various businesses, I “switched sides” and became a full-time investor in early-stage software companies. At the time, I published a series of posts that described how I was thinking about my work, and laid out in continue…

BerlinWall

“Why Nations Fail” + The Innovation Economy

Tom Friedman’s op-ed today was a riff on Why Nations Fail, a new book from MIT economist Daron Acemoglu and Harvard political scientist James Robinson. Per Friedman, the core thesis of the book is the long-term instability of “extractive” as opposed to “inclusive” political and economic systems: “Inclusive economic institutions that enforce property rights, create continue…