Essays

— 46 pieces
2022
Renegade Spotlight Renegade Spotlight: Paradigm
The world of venture capital is changing dramatically. And it continues to change more and more quickly. We're on internet time now. Venture capital is an industry that has been fairly stable for the ...
Venture Capital The Renegades of Venture Capital
I've been working in venture for just over seven years. I've loved it. I love working with founders and thinking about how companies get built. I've never considered myself the very best at anything. ...
Renegade Spotlight Renegade Spotlight: Lowercarbon
The world of venture capital is changing dramatically. Over the last few months I've spent a lot of time thinking and writing about the forces driving that change. The two most significant I've seen a...
Startups Natural Selection Among Startups
Starting a company isn't that hard. You fill out some forms to incorporate. But that's about the last easy thing you'll do. Building a company that lasts the test of time is default one of the hardest...
Venture Capital Why Most VCs Suck At Talent
Talk of "The Great Resignation" is everywhere. 70 million people changed jobs in 2021 and 70% of that was voluntary. People choosing to quit. "Two out of every five office workers are planning to resi...
Renegade Spotlight Renegade Spotlight: Homebrew
The world of venture capital is changing dramatically. Over the last few months I've spent a lot of time thinking and writing about the forces driving that change. The two most significant I've seen a...
Venture Capital Kids 3.0
My wife and I welcomed baby number 3 into the family this week. Dax, Jed, and our newest addition: Eve. We're big into 3-letter names. So with plenty to keep me busy enjoying our new addition I wrote ...
Startups The Professionalization of Startups
In Morgan Housel's book, "The Psychology of Money," he tells the story of Bill Gates' one-in-a-million life. And he wasn't talking about being a billionaire. Or starting a successful company. He was t...
Venture Capital A Tale of Two Markets
In the late 80s, early 90s my Dad was in almost exactly the same phase of life as I am now. We're both in our 30s and about to have our 3rd kids. In just that generation the world has changed dramatic...
Venture Capital What's In a Valuation?
As everyone with a brokerage account braces for emotional trauma they've rarely if ever experienced before it has been interesting to watch public and private investors react. There are aspects of pub...
VC Behavior The Productization of Venture Capital
I'm a big fan of thinking about the history of things. To understand why you do something today you sometimes need only look at how it got started. Humans are creatures of habit, so a lot of times we ...
Venture Capital The Unbundling of Venture Capital
In the 1950s when brands had their Don Draper-drenched hey day people used brand recognition as a short-hand to recognize quality and trust. We drove our Ford Mustang to McDonalds for a Coca-Cola.
Work I Love The Taste of Pain in the Morning
Anyone who is invested in public tech stocks has been feeling a lot of pain over the last few weeks. High growth software has seen a ~50%+ correction and the businesses with the highest multiples have...
Hype Cycle Blaspheming Against The Hype
Sort of a heavy place to start for a venture capital blog, but we're gonna get into religion a bit today because I can't stop thinking about the psycho-religious dynamics that exist in funding hype in...
Venture Capital Eat What You Kill: The Meritocracy of Venture Capital
They say when you have two kids, the second is always more resilient than the first (and by "they" I mean memes on the internet.) Well, that certainly proved to be the case with my kids. My two oldest...
VC Behavior How can I be helpful vs. Is this helpful?
Investors hear tons and tons of pitches. They pass much more often than they fund a company so they have to think of a way to maintain a relationship without being able to invest.
Hype Cycle Hype Deflation & Inflation
In a previous life, I briefly lived in Seattle, and I was a big fan of the city. I grew up in New Mexico, so I’ve had about as much sun as I need for one lifetime. Seattle’s rainy streets were a respi...
Hall of Fame Institutionalized Belief In The Greater Fool
If you've been reading my writing for a while, you'll know that I'm far from a venture capital stan. I'm a pragmatic observer of my own craft, and as much as you can learn from success, there is also ...
VC Behavior Let Me Know How I Can Be Helpful
Hype Cycle On Hype And Hot Air
If you haven’t watched Breaking Bad, or the prequel show, Better Call Saul, then you should. They're both exceptional shows, one exploring an apparent good guy, who is actually bad. And an obvious bad...
Venture Capital Playing Different (Stupider) Gamers
I'm not a sports guy. We are not a sports family. Growing up, my parents loved sports, and watched them a lot. But it wasn't my thing. That has reflected in my children. A few years ago when my oldest...
Hall of Fame Stewards of Capital
A frog is hanging out by a river. A scorpion comes along, and asks the frog to carry it across. But the frog is no dummy. "Listen," says the frog, "I've been around scorpions before. Y'all have a tend...
Hall of Fame The Gospel of ARK Invest
This was originally published in Investing 101, a weekly newsletter about the art and science of building and investing in tech companies. To receive Investing 101 in your inbox each week, subscribe h...
Hype Cycle The Hype Cycles of Venture Capital
Before we had NFTs, the cultural image collecting the world was obsessed with was Pokemon cards. In the early 2000's, I was caught up, like most people my age, collecting them. I had probably spent ov...
Venture Capital The Puritans of Venture Capital
People like humble beginnings. I think its because they're easier to understand. It's easier to envision Steve Jobs and Steve Wozniak in a garage with a soldering iron and some microchips. It’s much h...
VC Behavior The Tales of Usefulness Have Been Greatly Exaggerated
Venture Capital The Unholy Trinity of Venture Capital
As a senior in high school I had an English teacher, Mr. Malone, who had a huge impact on me. His class was, I think, the first time I was exposed to the idea of literature for the sake of literature....
Hype Cycle Updating The Hype Cycle
Warren Buffett and Charlie Munger are two rich philosopher kings whose purchases of candy stores and Coca-Cola shares have spawned aphorisms on life, psychology, and investing that are the closest thi...
VC Behavior You Don’t Want My Value Add
I'm a big Seinfeld fan. Perhaps one of my favorite scenes has Elaine on a trans-Atlantic flight with her boyfriend Puddy. As they settle into the flight, Elaine pulls out a book and Puddy stares ahead...