Posts in Uncategorized

Bojangles IPO

I see Bojangles filed to do an IPO at the top end of where they thought they could do it.  If you haven’t been to a Bojangles, you haven’t been in the South.  It’s where I am today.  I have …






Throwback Thursday Photo

This is a photo in a book targeted to kids about commodities.  Had to be taken in the late 1980’s.  That’s what the trading pits used to look like.  If you think it’s hard to get into a VC deal, …






Feedback, or Criticism?

One of the things investors look for in entrepreneurs is “coachability”.  Yesterday, Mark Suster tweeted this, @semil @pointsnfigures I look for people who take feedback well. And I am willing to receive it too. — Mark Suster (@msuster) March 11, …






Limits On Creativity Can Be Liberating

One of the things startups talk about all the time are “no limits”.  There is literally no limit to how we can be creative with software.  It can infiltrate everything and create massive improvements in our lives.  But, sometimes having …






Cash Versus Physical Settlement

What’s the difference between cash and physical settlement?  Why is it important and does it make a difference? The Bitcoin exchanges are getting going.  As I have said in the past, the ones prior to Coinbase and Winklevoss are not …






Freedom of Speech

Freedom of speech is enshrined in the US Bill of Rights.  It’s in the first sentence. This week in France, we have seen totalitarian minded Muslim terrorists try to crush and instill fear into people that believe in free speech. …






Happy New Year

I leave from Kenya today to go back to Chicago.  Yesterday was an incredible day out in the bush.  We saw 9 cubs eating a Topi with 5 female lions. We saw another female with two young cubs.  Then, we …






Novel First Round Funding Idea as Alternative to Convertible Debt

Most startups these days use convertible debt for first round funding.  Typically, they do a deal that looks like this: $3-$5M cap on the note 15-20% discount on first round valuation 6-8% interest on the note Sometimes, entrepreneurs can get …






CIA and Torture

I am at the National World War Two Museum in New Orleans attending the opening of the Campaigns for Courage pavilion.  Spoke briefly with Tom Brokaw last night who is off to Bastogne to celebrate the 70th Aniv of the …






Watching College Football

If you watched the championship games yesterday, you didn’t see a lot of defense.  A couple of points stuck out to me. 1.  Ohio State rolled against Wisconsin 59-0 with a third string QB.  It shows that the Big Ten …






Happy Thanksgiving

Even in the most trying of times, we should try to find a silver lining somewhere. Hope keeps you going. America was the greatest startup company ever created and I am lucky to be a part of it. I am …






Can We Afford Entitlements?

In her annual pitch, Mary Meeker pointed out that entitlements are consuming 63% of the federal budget and rising.  That’s unsustainable.  I don’t know when it reaches a crisis level, but if we continue down the path we are going, …






Big Data is Really Small Data

It’s awesome that colleges are starting to have big data programs, and big data majors.   Colleges have always had a way to learn about how to deal with big data-statistics classes.  Big data is infiltrating our lives because of technology …






The Cocktail Craze

Last night, my wife and I went out for her birthday.  We tried a very small place in Logan Square called Table Donkey and Stick.  The name comes from Grimm Fairy Tales.  It’s a sort of farm to table restaurant. …






See You In The Grove

I came down to Ole Miss to visit my daughter who is a senior here.  One of the best things about having children go to college is to experience some of the traditions of the institution that they decide to …






Do You Know How to Schmooze?

Hey, after being on a trading floor for 25 years you learn a little Yiddish.  A childhood friend of mine and I had breakfast a couple of years ago.  He was frustrated with the experience of shopping for customer gifts. …






The Media is Dead, Long Live the Media

Yesterday, ISIS beheaded a US journalist. They have been beheading people since they have been on the march. Barbarians bug me.  There is no space for them in civil society. But you know what else bugs me.  American media. The …