This Time is Different

Despite this grandiose fervor, venture capital is not changing.Like a word’s denotation, it is unchangeable — an absolute, a fixed paradigm.Venture Capital, very simply, funds:The test of a true, novel hypothesis with…Enough capital to definitively prove or disprove said hypothesis so as to generate…Supporting data that makes it clear that the comp... See more

By definition, you will likely succeed a vanishingly-small percentage of the time, but—as the saying goes—that’s a feature, not a bug. The point is to venture—fistfuls of money in hand—at the furthest extremes of capitalism, hoping to stumble upon that rare, proper intersection of technology and commerciality.By design, most investments will miss t... See more

Like most things, though simple, it is not easy. After all, the map is seldom the territory.To hammer this home, below are two things Venture Capital is decidedly not:If you are funding a company to “pour gas on the fire” and replicate/scale already-validated results, that is not venture capital. If you are funding a company to “run the same, prove... See more