Tom White

International opportunities remain vast for those brave few willing to expand beyond local borders and limited markets. Put simply, it’s what the “Smart Money” is doing. Data shows that larger market participants such as QED have shifted their focus more on markets outside the US in recent years.Given this international opportunity, deal flow and... See more

This allows us to pop the algorithmic bubbles—the weapons of math destruction—used by the Twitters, Facebooks, Googles of the world to lull us to sleep. It shuts off the intermittent dopamine drip to which we have become tethered and addicted.Though I do not lead a life so interesting to write about each and every day (partly why this newsletter... See more

Like a raging river, information courses along faster than ever before.The maelstrom will never cease. In fact, her gales will blow harder, her raindrops grow fatter with the bits and bytes that make up our digital deluge.We have too few hours to comb through too much information. Not to mention, it takes real, hard, honest work to separate the... 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,... See more

Jim Collins originally used the Flywheel as a metaphor in Good To Great:Picture a huge, heavy flywheel — a massive metal disk mounted horizontally on an axle, about 30 feet in diameter, 2 feet thick, and weighing about 5,000 pounds. Now imagine your task is to get the flywheel rotating on the axle as fast and long as possible.Pushing with great... See more

I spend 90% of my time thinking about stories and narratives, and like so many other things, narrative formation is getting decentralized. This is my attempt to figure out what’s happening and where it’s heading.Crafting and telling stories is part of what makes humans humans. Stories let us coordinate across time and space. Stories are undeniably... See more

It is said that we become what we behold. That is, we shape our tools and then our tools shape us.If the past few years are any indication, the universe is very much following the internet’s lead. We seem to be teetering ever closer to the asymptote that is unadulterated entropy.

A great deal has been written about what constitutes Venture Capital and what does not (including by this very author) in these seventy years. Though many different things to many different people, Justice Potter Stewart’s famous dictum in Jacobellis v. Ohio works for our purposes:I shall not today attempt further to define the kinds of material I... See more