Awesomely candid interview with Dr. Malone. Jess always seems to get the good stuff out of him…
WSJ: Do you think President Obama should be re-elected?
Mr. Malone: I don’t think he should have been elected in the first place. I think he’s incompetent. But now, I’ve thought that of the last couple presidents. [Obama’s administration] is all academics and lawyers. I’m afraid that our real problems are systemic and long‑term. And lawyers are primarily trained in fighting over the pie, not making the pie bigger. And this country definitely needs to think about making the pie bigger.
Jul 15, 2010
Annuals, Eyes in the Darkness
Jul 15, 20102 notes
Jul 15, 201070 notes
Jul 13, 20102 notes
M.I.A., There’s Space For Ol Dat I See
A brilliant close to yesterday’s otherwise largely banal Entourage.
Jul 12, 20102 notes
The Rapture, House of Jealous Lovers
Jul 11, 201016 notes
New Order, Age of Consent
I’ve been hearing some great music on my journeys lately. Old, new and everything in between. Going to share some of it over the coming days.
Jul 10, 20103 notes
Jul 9, 20106 notes
The Suboptimal Large Series A
While the capital efficient consumer Internet start-up is all the rage these days, I still see a good number of consumer Internet companies looking to raise sizable Series A rounds prior to launch. Other than successful serial entrepreneurs, more often than not these companies have a hard time raising large pre-launch rounds from top tier VC firms.
So some scrappy entrepreneurs hustle to try and find alternative routes to their desired result rather than raise less money to prove out their concept prior to loading up the cannons. If they doggedly persist down this path, these entrepreneurs may find some wealthy unsophisticated angels and/or an ill-suited VC firm to back them.
Although this may seem like a victory for the entrepreneur, it’s most likely a Pyrrhic one. Taking too much money before you need/deserve it is extremely dangerous and can generate unnatural behaviors. Even more importantly, having the wrong investors around the table early on in a company’s life can be devastating…especially as further financing is required down the road and these investors cannot support the company properly or send the wrong signals to the market.
If the entrepreneur gets lucky and all goes according to the initial plan, things can of course work out just fine. More likely, they’ll be 18-24 months out with a minimally successful product and staring at a B round that nobody is willing to fund – externally or internally.
The lesson here: listen to the market. There’s a reason it’s not cooperating the way you want it to.
Jul 9, 20103 notes
#Financing #Series A
The Kills, Pale Blue Eyes (Velvet Underground cover)