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'When I first met Meredith Perry she was 24. That was three months ago this week. Today I’m handing her the largest A-round check I’ve ever written as a VC as we lead her $10 million A-Round at uBeam. As I’ve written about recently, at Upfront Ventures we started talking a couple of years ago about wanting to fund stuff with more meaning.
'Chick Launcher , the local effort to help bolster women led startups, has named the five finalists for its Fast Pitch Competition, the group said this week. Chick Launcher--which is awarding $10,000 in cash, and $48,000 in professional services as part of its competition--said that Double Helix LLC , led by Leslie Kimerling; HopSkipDrive , led by Joanna McFarland; I Heart Savvy , led by Bridie Lee; PodShare , led by Elvina Beck; and Repurpose , led by Lauren Gropper, are the five finalists up f
'A version of this article previously appeared in Forbes. Want to be an entrepreneur? Don''t go to Wharton or Harvard. Instead, grab your surfboard and head to UC Santa Barbara. According to a recent Forbes article , UC Santa Barbara''s Technology Management Program offers students a superior startup education over the University of Pennsylvania (home of Wharton), as well Harvard, Northwestern and even its acclaimed southern neighbor, the University of Southern California.
'One of my books, Extending the Runway , uses parallels to piloting a plane to equate to the process of creating and building a small company, making maximum use of resources to get to and beyond breakeven. It is worth revisiting the most important point of that book, which was written to prompt discussion between entrepreneurs, professional managers and their boards of directors about issues that could unite them or strain the relationships between them.
Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.
'Back in 2006, my company was awarded Services Company of the Year by the Technology Council of Southern California. We wanted to celebrate. I’d never been to Mr. Chow in Beverly Hills and with all the paparazzi out front, I thought I may never. So I called OnStar Cadillac Concierge services from my Escalade (yes, it had big rims). I asked the concierge to book us a table for 6 and I was amazed that when she returned we got in.
'We’ve all heard the old joke “In a bacon-and-egg breakfast, the chicken is involved, but the pig is committed.” This quote epitomizes the true essence of commitment. We all know at least one small business owner who claims to committed, but seems to treat the business like a part-time hobby. They don’t put personal skin in the game, and are quick to give up when things are tough.
'I’ve been having this PR discussion with three separate portfolio companies at once so I thought I’d just publish my thoughts more broadly. I have written many times about PR so if you want a deep dive on the “how” of PR you may enjoy reading some of these posts. PR is an insanely valuable activity in early-stage companies. Very few investors understand this and even fewer startups.
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'I’ve been having this PR discussion with three separate portfolio companies at once so I thought I’d just publish my thoughts more broadly. I have written many times about PR so if you want a deep dive on the “how” of PR you may enjoy reading some of these posts. PR is an insanely valuable activity in early-stage companies. Very few investors understand this and even fewer startups.
'Elon Musk , the technology mogul and visionary who has brought us such technology innovations widespread electronic payments via PayPal, electric cars via Tesla Motors , and commercial rocket service via SpaceX , warns that artificial intelligence has the threat of becoming mankind''s "biggest existential threat" last week. Musk likened the technology to "summoning the demon".
'A version of this article previously appeared in Forbes. Accomplished entrepreneurs appreciate the importance of crafting a succinct, well rehearsed description of their venture. This concise summary can be comfortably told during the duration of a reasonably brief elevator ride. Hence the term "elevator pitch.". In contrast, a Personal Pitch differs from the classic elevator pitch, as the focus is on you and not your venture.
'A CEO friend of mine who manages her one hundred person remote workforce as a virtual company told me her story of how she welcomes new employees as she grows her firm. Strike that. She over-welcomes her new employees. Days before the official start date, she makes sure that the new employee’s business cards arrive in the mail, that the employee’s phone and Internet services are up and running, and that an email account is already established.
'Craigslist and other listing sites leaves millions of buyers to find all kinds of goods and services. Like a virtual yard sale and a bulletin board combined, listing sites can connect everyone within a vicinity for a specific deal. These sites act as a place for people to virtually barter amongst each other, but a lack of safety protocols keep the community safe from fraudulent purchases and other risky exchanges. eddi , a new social listing site, seeks to change the way community-based e-comme
'One of the most frequent questions I get as a mentor to entrepreneurs is “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to the popular myth, nobody is waiting in the wings to throw money at you, just because you have a new and exciting business idea. On the other hand, there are many additional creative options available for starting a business that you might not find for buying a car, home, or other major consumer item.
'Marc Andreessen kicked off another great debate on Twitter last night , one that I’ve been talking about incessantly in private circles for the past 2-3 years – what actually IS the definition of a seed vs. A-round. This is something I think entrepreneurs don’t totally understand and it’s worthwhile they do. My view: “Spending any time or energy trying to game the ‘definition’ of your round of fund raising is a total waste.
'In a sign of how far and wide the growth of Southern California''s high tech industry has traveled, it appears that President Barack Obama will be speaking at Santa Monica''s Cross Campus on Thursday--in the heart of Silicon Beach. According to the White House, President Obama will be visiting Los Angeles starting on Thursday afternoon, with plans to visit the coworking space sometime before attending a political fundraiser at the home of Gwyneth Paltrow.
'A version of this article previously appeared on Forbes. Note: This is the second installment in the Startup Advantage series. Other installments include: Startups Should Avoid Dropping Trou. There are a number of disadvantages to being a rookie, irrespective of the profession. Rookies must learn on the job, having few relevant experiences they can draw upon to resolve the daily workplace challenges.
'Especially for social media-based businesses, we all need to recalibrate our thinking about who is the teacher and who is the student. There is nothing wrong with a manager slowing a conversation to ask for more background when speaking to an often-younger and more involved associate. You know what I mean… The conversation goes something like this: “We found it on x site and using y app with z as our data object.”.
' I’ve got a golden ticket! It certainly feels that way if you’re able to get on a new platform before anyone else, doesn’t it? Google has just allowed each of their “ Inbox by Gmail ” users to invite three of their friends and of course everyone is wondering what’s new with the technology giant. So what is Inbox by Gmail?
'Many experts will tell you that you can’t succeed as a part-time entrepreneur, as any good startup will require a 100 percent commitment of your time and energy. But not many of us have enough savings to live for a year or more without a salary, fund the startup, and still feed the family. Thus I often recommend that entrepreneurs keep their day job until the startup is producing revenue.
'An abbreviated version of this post appeared yesterday on TechCrunch. If you want the full SlideShare deck with many slides not in either post it’s in this link –> The LA Tech Market. “There’s something going on in LA.” It’s the most common refrain I hear from investors and even entrepreneurs these days. I hear it right after people have decided to come by for a few days to “check out what all the fuss is about.” I hear it when I visit LPs (th
'In Los Angeles, it seems like everyone has either a script or a startup idea in their back pocket. However, until recently, the two rarely intersected. In an interesting demonstration of how the worlds of both media and startups are colliding, a new Los Angele startup is trying to combine both, by offering up a website and television show, DreamJobbing (www.dreamjobbing.com) centered on offering users the opportunity to compete for "dream jobs"--and eventually turning those experiences into a T
'A version of this article previously appeared on Forbes. What happens when you release a CD in the form of a bottle of beer? Telegraph Brewing and the California band Buellton asked themselves this question and decided to answer it by doing it. If you haven''t already subscribed yet, subscribe now for free weekly JohnGreathouse.com articles! The Sounds Of Silent Partner.
'It’s a big issue within any company. With easy access to Internet shopping, games, social networks and more, employees are able to find many ways to focus on personal issues while at work, detracting from productivity and demonstrating a dis-respect for the time paid for by their employer. In fact, if we were to be direct, we might label it “stealing time,” and consider it a crime of sorts.
'NewTek’s First HDMI Product Gets A Lot Right. Streaming video is at an interesting crossroads right now. A generation of content creators raised on YouTube is transitioning to the more social live video experience, exponentially growing the entire streaming industry and building billion dollar streaming platforms. But the technology to support this exploding industry has taken baby steps to better production, and the learning curve for professional live productions is steeper than most Yo
'Change is hard. I see entrepreneurs every day who are trying to change the world with a new idea, and startups that are trying to survive their hyper-growth phase by changing processes to meet demand. In both cases, it’s easy for them to become frustrated and give up, since most have never been trained in change management, and don’t even know what questions to ask.
'We are often asked how companies get funded, why VCs make the decisions we make and what we’re looking for in entrepreneurs. I think this is a Seriously great example of how this process works for at least one VC – Upfront Ventures. But I’m guessing the narrative is similar elsewhere. I first met Andrew Stalbow , the founder & CEO of Seriously in August of 2013.
'Pasadena-based software developer Bluebeam Software has been acquired by German software company Nemetschek AG , the two said late Friday. According to the two, Nemetschek will pay $100M for BlueBeam, which is a developer of PDF software used for architecture, engineering, and construction. Bluebeam Software was led by Richard Lee. Nemetschek said the deal will help it reinforce its market presence in North America, and will expand Bluebeam''s access to European and Asian markets.
'For over a year, I was focused on Rubicon Project’s IPO. A lot of people have asked me, “What is it like going through the IPO process? What’s it like being the CEO of a public company? What is the company like after the IPO?” It’s interesting… An IPO is a big, and important, process–the best way for me to describe it is that it’s like planning a wedding.
'The best managers we all know are the ones who take the time to praise good work in public, before an employee’s peers. Most of us have a monthly award for the top person in a group of employees. And if we are big enough to formalize the process in a regular meeting, we make it a regular part of that meeting. If you haven’t already discovered this fact, such a process quickly becomes routine and predicable.
'As more and more tech startups launch vying for the attention of both consumers and investors, founders are figuring out which niche to serve and which industry to disrupt. Launching in 2012, Moreboats.com has been successful in reinventing the market of a mature boating industry. With her passion and love for sailing, founder and CEO, Anna Islamova, has gotten the approval of the boating industry with the support of many investors due to the success and effectiveness of the company continuing
'I’m a strong believer that investors invest in people, before they invest in a business plan, or an idea. But I continue to learn that there are a host of other factors, maybe not even related to you or your business, that could keep you from getting the funding that you need. You may not have control over many of these, but it helps to know, for planning purposes, what is really happening.
'Note: this is a non-religious post. This weekend was Yom Kippur, holiest of the Jewish holidays and the day of atonement. It’s also the day when most Jewish minds are least focused since one needs to fast for 24 hours. I sat in schul listening to the rabbi’s sermon and given my mind is prone to ADD anyways I must admit that my consciousness often floats around the room but even more so on Yom Kippur.
'It''s not often that startups come out of the gate, backed by a private equity investor. However, Los Angeles-based Colony Logic (www.colonylogic.com) is one of the few, having gotten its initial backing from private equity firm Blackstone. The company is focused on the enterprise software area. We spoke with Any Vogel , CEO of the company, to learn more about Colony Logic and its business.
For over a year, I was focused on Rubicon Project’s IPO. A lot of people have asked me, “What is it like going through the IPO process? What’s it like being the CEO of a public company? What is the company like after the IPO?” It’s interesting… An IPO is a big, and important, process–the best way for me to describe it is that it’s like planning a wedding.
'Prorata rights are one of the most important rights of a private market technology investors and yet are seldom fully understood. They often create the biggest tensions between investors who are investing at different stages in the business. These tensions seep out in some angels or seed funds publicly or semi-privately deriding later-stage VCs for their “bad” behavior.
'Yesterday I wrote a post about The Silent Benefits of PR in which I pointed out that most young companies I encounter don’t fully grasp the benefits of PR because they are less measurable than product milestones or customer acquisition analyses (like CAC/LTV). In that article I talked about how PR drives: recruiting, employee retention, biz dev deals, funding and even M&A and that often “attribution” to your PR activities is unknown.
'Much has been written about when it is time to hire a “professional CEO” to run a startup company and of course that has long been a norm in Silicon Valley when founders find that their inexperience may be a limiting factor in company growth ( know as the Peter Principle ). Much less has been said about when the technical CEO is the best person to run the company.
'I’m pretty on record as saying I don’t think many private-to-private tech mergers make sense. They are often done from a position of weakness. Something in both companies isn’t working, which is why they come together. I often don’t believe in the therm M&A because in my experience mostly A works. But of course there are always exceptions.
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