Posts from 2017

ICO Accounting

One of the things you have to do when you have a company is the accounting.  It’s not a particularly great way to make future decisions, but it sure is a good way to show you where you have been …

Incentives

Most people don’t understand economics at all.  They might take a class or two but then they don’t really internalize anything.  Could be it’s the professor’s fault for not drumming home the real meaning of economics. Politicians talk about “fair”.  …

Darkest Hour

My wife and I took in the movie Darkest Hour.  It was pretty powerful.  Being a WW2 buff and having read a few books on Churchill I was able to gather a bit more out of the movie than I …

2018 Something Has to Happen

In 2018, something useful has to happen in the crypto space.  So far, it’s all been speculation.  Buy low and sell high has been done.  It’s not original.  Crypto needs to execute on its promise of being a decentralized system …

The New Trump Tax Law And REITs

The new tax law goes into effect on January 1. People have a lot of questions. In Illinois, there are lines out the door at tax assessors offices to prepay property taxes. Personally, I was glad to see this subsidy …

Extending Credit to Rural America

One thing you learn in business school is corporate finance. There are a few ways to finance your operations. Cash flow Debt Selling equity Growing from cash flow is hard.  It’s generally slower.  If you can access credit markets, debt …

Merry Christmas

Christmas is about hope. Merry Christmas to you and your family. If you don’t celebrate Christmas, blessings of the season to you and your family. Never lose hope.

Regulating Bitcoin

Bitcoin and the crytocurrency world need some regulation. I am all for taking risk and prefer the Wild West to Cuba, but when you are at extremes it’s not good for anyone. Having the Wild West will lead to anarchy. …

Happy Festivus

This morning I woke up and saw this in my twitter feed: Good morning and #HappyFestivus! Later today I will help you celebrate with some #AiringofGrievances. — Senator Rand Paul (@RandPaul) December 23, 2017 I have my Festivus pole and …

Was Yesterday Crypto’s Jump The Shark Moment?

If you are my age, you remember the television show Happy Days.  It was wildly popular.  But, like all good things eventually they start to run out of ideas or they just aren’t as good as they used to be.  …

Additions To The Tax Bill I’d Like to See

The tax bill passed and will become law.  I think it’s a start.  Contrary to what you believe, it’s not a giveaway to the rich.  The spin on the left wing is disingenuous.  They are adding in things that sunset …

Wearing A Lot of Hats Might Not Be As Good As It Seems

One of the awesome things about a growing startup community is the what people think about when they find out about it.  The first people are the service providers.  They all try to make a little money servicing the community.  …

Does Delivery Matter?

There are two competing Bitcoin futures contracts.  CME and CBOE each have them.  Trading has been light, and thin so far.  I looked at the CME webpage today and saw Euro/USD futures had traded 88K already.  Indian Rupee’s had traded 2.5K.  …

Create An Endowment Effect

Professor Richard Thaler just gave his Nobel lecture.  He is a pioneer in behavioural economics.  Often times, behavioural economics flies in the face of classical economics.  However, there are some pieces of behavioural economics that are really interesting to think …

The Net Neut

This week, the FCC rolled back the Obama regulations on “net neutrality”.  The deeper we get into the 21st Century, the more different pieces of legislation proposed by both parties start to resemble Ayn Rand’s descriptions in Atlas Shrugged. Net …

So You Did An ICO and Raised A Yacht-full of Cash, Now What?

A lot of startup firms are doing ICO’s.  There seems to be no end to them.  If you are just waking up and don’t know what an ICO is, it’s an initial cryptocurrency offering.  What’s that?  A company creates a …

The Common Mistake

One commonality I see in a lot of seed stage companies is a mistake immediately after closing fundraising.  I have heard and read it from other VCs as well so I suppose it’s not new.  However, it’s something that cannot …