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ESADE Business School Commencement Speech

Steve Blank

I’m honored to be at a university noted for knowledge, and in a city with 2000 years of history – home of Gaudí one of the 20 th century’s greatest innovators. If they don’t, then the management team has simply become caretakers of the founders’ legacy. Thank you for the kind introduction. I’d like to start with a request.

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How and Why To Be an Angel Investor

David Teten

Dave Kerpen, founder and CEO of Likeable Local , just published an interview with me on Linkedin, which I’ve included below. He’s the #1 LinkedIn Influencer of all time in page views, ahead of Bill Gates, Jack Welch, Mark Cuban, and President Barack Obama. Enter Dave: Angel investing is a great way to make a lot of money.

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A Closer Look At The Quality Of Angel Returns Data

David Teten

The good news for Techcrunch readers: Every major study conducted to date has placed angel investors’ IRR between 18 and 38 percent, as summarized by my Partner John Frankel and Professor Robert Wiltbank in prior Techcrunch articles. Every major angel study conducted to date has shown high IRR.

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As Populist as it May Feel, 98% of VCs Aren’t Dumb

Both Sides of the Table

The better way to think about VC returns is, do the firms consistently beat alternative asset clases on an IRR basis to adjust for the increased risk and lack of liquidity? In 2000 our industry had more than $100 billion in LP money. I want to challenge the founders view. Here the data is not always kind to VCs. It is changing.

LP 374
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The VC Shakeout: Are We There Yet?

Agile VC

Sarah also points to the vast global wealth that has to get allocated somewhere as well as a small bump in long term average returns, now that the generally terrible performance of funds from the 2000-2002 time frame (after the tech bubble of the late 90s crashed) no longer factor in to 10 year returns. So at a fund level (e.g.

LP 154