I was at Amzn early '00s when we lost 95% of our market cap. Later at FB I negotiated a down-round in '09, and then in '12 our stock dropped 50% post-IPO. I was on the board of a public company that went bankrupt (Borders) and a start-up that went under (Hello). Some lessons:
“Everyone bifurcates the world into content and distribution,” Whaley told me. He has brown hair, is of average height, and was wearing a nondescript gray t-shirt and jeans when we talked. “From the beginning, we viewed those as the same thing. Each object gets better with more participation, and so does MSCHF. Scale is not the goal. Scale is a... See more