Posts in Uncategorized

People Gotta Eat

The video above is eye opening if you don’t understand modern farmers.  When I traded, we had a fair amount of traders on the floor that grew up on a farm.  They’d be the first to tell you farmers are …

Dividing the Equity Pie

One of the hardest things to do in early stage startups is dividing up the equity.  I have been asked for advice on this from time to time but I never had a good answer.  Mike Moyer, who teaches entrepreneurship …

The MBA and Venture Capital

Ran across a piece where the University of Wisconsin said they were starting to think about dropping their MBA program.  Big Education is in a tough spot.  It’s expensive to go to college these days.  You can find ways around …

A Great Discussion on Churchill and Orwell

I thought this was a great discussion. Hope you enjoy it too. Yesterday I was at a lunch and picked up a book on Winston Churchill called “No More Champagne”. Churchill saved western civilization almost singlehandedly.   The author David Lough …

Is There A Problem With Short Term Trading?

One thing that is interesting to me is the diatribes against short-term trading in markets.  If a trade is made and exited in the blink of an eye, does it hurt the company or the market?  A lot of people think it does.  …

Coase Rules

One concept that believers of centralized economies detest is the theory of Ronald Coase.  Coase Theorem is one of the most important economic theorems out there.  In fact, it’s what I would call a bedrock theory.  A lot of classical …

The Tipping Top

One thing I have noticed in startups is if things start to spin out of control, they tend to stay out of control.  Like a top that gets off kilter, the startup rarely seems to recover.  It will be interesting …

You Must Tell A Story

Yesterday I had the good fortune to attend a lunch where Arthur Brooks was speaking.  I like his book, The Conservative Heart and recommend it to anyone.  Arthur is always provocative when he speaks. He speaks around 180 times a …

Should You Have An Exit Strategy?

Apple CEO Tim Cook was speaking to students and said if a VC changes in the middle of a pitch and quizzes an entrepreneur about an exit strategy they should leave.  I find that interesting.  One time when I was …

The Responsibility of The Director

When you sit on a Board of Directors, you have a lot of responsibility. It should never be a passive activity. At their worst, directors can be overbearing burying themselves in the minute details of the business. They can be …

Don’t Beat Yourself

Doing a startup is hard.  It’s one of the hardest things anyone will ever attempt.  A few people come together and try to execute on a single idea that hopefully can become a multi-million dollar company.  It’s absolutely brutal and …

Where Disagreement is Embraced

Monday, the Nobel Prize for Economics was given to Professor Richard Thaler of Chicago Booth.  He has been on the Booth faculty since 1995.  It’s notable because it is another Nobel Prize in the trophy case for a Chicago economist.  …

Baseball Is The American Game

I was at the Cubs game yesterday. As I was watching, I thought about how American baseball is. My European friends don’t care for baseball. Too boring and not enough action for them. There is no time clock. You are …

The Vines Are On Fire

If you are a wine lover like me, you woke up to some pretty bad news.  There is a huge fire in the Sonoma Valley.  It’s spread to parts of the Napa Valley.  The wineries are on fire. I was …

A Thought About The Pitches

Yesterday I blogged about the pitch competition I helped judge.  I had some thoughts while I was judging it.  The confirmed a lot of the gut feeling that I have had over the years and solidified them. The most militant …

The MLB Playoffs Are Here

The first time I can say this in my lifetime. Hope the World Champion Cubs can defend their World Series title. As Tom Ricketts said, “Traditionally when the Cubs win the World Series they repeat.” The baseball playoffs are here …

Should You Pay Attention to Bitcoin? Yes.

Nice video explaining why. Clearly, Chris is talking his book. His firm a16z has made several bitcoin investments. But, it doesn’t matter. This is happening and it’s picking up speed. Have you heard of the social network Steemit? 350,000 accounts. …

The Power Is Gone From Late Night

When I was growing up, almost every adult I knew watched Johnny Carson.  He was the true King of Late Night.  Why?  Back then, there were few alternatives to passive entertainment.  You could watch stuff on other channels but it …