Category Archives: People

Bessemer

I am enjoying this new Q & A part of Term Sheet.

http://fortune.com/2017/09/27/bessemer-byron-deeter-elon-musk/

Some interesting sections…

Crypto:

What are your thoughts on the future of cryptocurrency and the blockchain as it relates to venture capital?

I struggle with two diametrically opposed positions on this. On the one hand, I absolutely love the innovation that the blockchain is bringing and see a lot of need for financial industry innovation and removing friction from that ecosystem. On the other hand, I believe that Bitcoin and Ethereum are wildly overvalued relative to any notion of what is value. I do fear and suspect that a lot of the short-term price escalation is driven by speculation and/or improper uses for things like money laundering.

Cloud:

What’s going on in the cloud space right now that you think Term Sheet readers should know about?

The massive replatforming of software continues, and cloud is that next evolution. We are doubling down in every way on the space now and absolutely believe that the trend is ripping through the software ecosystem.

It’s created a number of related trends where cloud is the enabler for enterprise mobile, and this notion that mobile workers can get access to great software products is now taking hold. We went from clunky heavy software, to a browser interface with cloud, to your phone with mobile. The next iteration will actually have the interface disappear, and you will interact with software much more naturally. The pace of innovation is accelerating, and each of these cycles is compressing.

Anti-Portfolio:

You often point to a section on your website entirely dedicated to your biggest misses called, The Anti-Portfolio. Why does Bessemer showcase winning investments the firm decided to pass on?

We’ve had people call and notify us that our website’s been hacked: “Oh my God, someone put up an anti-portfolio on your page. You guys should know so you can take it down.” It’s hilarious, and I tell them, “Guys, just step back. You can’t take yourselves this seriously. Can you not enjoy a little bit of humor?”

We need to be able to make fun of ourselves. As good as we can be in this business, we still wake up every day and read articles of great companies that we missed or didn’t quite understand, and they materialized. We hope every entrepreneur we meet with ends up on one of two pages on our website — either the portfolio or the anti-portfolio. And we’re sincerely happy for their success either way. It’s not a zero-sum game. The spirit of the anti-portfolio is to acknowledge that even the best investors screw up all the time.

This is something we tracking internally over at SeedPlus.

The Splice Newsroom

Signed up for this newsletter today.

I used to work with Alan at Yahoo! and from time to time we have some coffee and discuss tech, people and news. Mostly though we will talk about news and where we consume it these days – or listen to it since we both like podcats. 

I used to subscribe to the FT weekend but found I wasn’t always reading it and figured I should read more books. Most of my news then is from online sources and podcasts but lately I have been actually listening to less news and getting the majority of my updates from Inside.com – I like the email format with links. I also read Pro Rata and Term Sheet everyday.

From time to time I will use the Washington Post and New York Times app but not enough that I am compelled to pay for them.

What Alan and I talk about most though is there isn’t anything super amazing coming out of Asia that I look to as my news source. Hopefully with projects like this we will see some change and find truly quality newsrooms that provide content the way most of us consume it.

Alan recently got some $ from FB and is beginning to build things out, you can read all about here :: https://www.thesplicenewsroom.com/about-us/.

Subscribe to the newsletter and support this much needed look at media across Asia.

The Four – new book from the Prof

So far my favorite book of the year has been :: https://seedvc.blog/2017/06/27/shoe-dog-best-business-book-of-the-year/. Just couldn’t put it down till I finished it.

After hearing this latest podcast :: https://www.recode.net/2017/9/14/16303784/transcript-author-nyu-professor-scott-galloway-recode-decode-four-book-google-amazon-facebook-apple. I am anticipating that Galloway’s new book is going to be amaze balls and on obvious best seller.

For more of his writing, check his latest weekly email :: https://www.l2inc.com/daily-insights/no-mercy-no-malice/from-russia-with-likes

To pre-order the book on Amazon use this link.

Enjoy the weekend!

Another good read from the Prof

I can’t wait for his new book…

Till then read :: https://www.l2inc.com/daily-insights/no-mercy-no-malice/

The retail apocalypse is real.

Super stoked to have Amazon in Singapore now.

I love this line about people:

Professionally, I’ve expected employees to be loyal as, well … I’m just so fucking awesome — instead of investing in understanding their objectives and calibrating my efforts to address our mutual aspirations.

I think this works so well – focusing on mutual aspirations.

Happy Saturday folks.