Steve Blank

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Is a Venture Studio Right for You?

Steve Blank

I don’t have a killer idea, or a technical team, but I do know how to build, grow, and manage teams.”. These studios have different metrics than startup studios whose limited partners are private family offices or venture capitalists. Carlos stirred his coffee. The Alternative: Venture Studios.

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Even the Smartest VCs Sometimes Get it Wrong – Bill Gurley and Regulated Markets

Steve Blank

Eventually you’ll need to build an in-house team to manage regulatory affairs. Having a meeting or two with a congressman or contributing to their campaign might get you a return call, but only sustained engagement (via money, influence, and an on-the-ground presence in D.C.) will move the needle.

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What Founders Need to Know: You Were Funded for a Liquidity Event – Start Looking

Steve Blank

VC’s raise money from their investors (limited partners like pension funds) and then spread their risk by investing in a number of startups (called a portfolio). BTW, Angel investors do not have limited partners, and often invest for reasons other than just for financial gain (e.g., The Deal With the Devil.

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Welcome to the Lost Decade (for Entrepreneurs, IPO’s and VC’s)

Steve Blank

VC’s invested their limited partners’ “risk capital” in a portfolio of startups in exchange for illiquid stock. This changed their interest from managing your board for their liquidity to managing the board for all shareholders. The system worked in predictable and profitable ways. Success Means That You’re Acquired.

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Reinventing the Board Meeting – Part 1 of 2

Steve Blank

Investors get board seats to assure themselves and their limited partners that they are duly informed about their investment. There are no standards for what each side (board versus management) does. From a VC’s point of view there are two reasons for board meetings. 1) It’s their fiduciary responsibility. The Wrong Structure.

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Why Board Meetings Suck – Part 1 of 2

Steve Blank

Investors get board seats to assure themselves and their limited partners that they are duly informed about their investment. There are no standards for what each side (board versus management) does. From a VC’s point of view there are two reasons for board meetings. 1) It’s their fiduciary responsibility. The Wrong Structure.

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VC’s Are Not Your Friends

Steve Blank

Their fiduciary responsibility was to manage a portfolio of investments for their limited partners. At the end of the day VC’s have to provide their limited partners with great returns or they aren’t going to be able to raise another fund. If you succeed so do they.