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A Bigger Truth About Restaurant Food Delivery

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Photo by Viktor Forgacs on Unsplash I was listening to Dan Primack’s podcast on Pro Rata and he was interviewing Senator Klobucher who is now publicly and vocally speaking out against Uber purchasing Grubhub and has tried to mobilize against this.

Bevy is Emerging as a Leader in Software for Building Virtual Communities?—?with $15 million to…

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Bevy is Emerging as a Leader in Software for Building Virtual Communities?—?with

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How to Make Sense of the PPP Loan Program for VC-Backed Startups

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There is so much confusion and misinformation out there about the government sponsored “payroll protection plan” loans to companies that the heads of every small business CEO in the country must be spinning.

My Thoughts on the Current Market: on 20-Minute VC

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Several years ago I made an appearance in a burgeoning new podcast called “20 Minute VC,” which by now needs no introduction. Harry was gracious enough to invite me back so this past week we recorded an episode discussing the current market environment.

Building Healthy Innovation Ecosystems for Your Projects

Speaker: Nick Noreña, Innovation Coach and Advisor, Kromatic

In this webinar, Nick Noreña will walk through an Innovation Ecosystem Model that he and his team at Kromatic have developed to help investors, heads of product, teachers, and executives understand how they can best support innovation in their own ecosystem. He'll also go over metrics we can use to measure the health of our ecosystems as we build more resources for innovators.

Funding in the Time of Coronavirus

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I am due to speak at the SaaStr conference next week: Wednesday, March 11th at 10:45 AM. I had originally signed up to talk about the “VC Market Trends” overall but it seemed inauthentic to speak about VC funding without addressing the virus in the room.

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Why Has Seed Investing Declined? And What Does this Mean for the Future?

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Seed investments are down by any measure (funds, deals, dollars) over the past 3 years in deals < $1 million AND in deals between $1–5 million. What gives?

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My Commencement Speech?—?Life at Your Crossroads

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My Commencement Speech?—?Life Life at Your Crossroads Photo by Justin Luebke on Unsplash Crossroads Cal Poly Pomona! What’s up!?! I’m so grateful to be up here addressing you today. Today you’re either here to graduate or support somebody graduating.

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Hard Decisions Require Empathy

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In the past two weeks we have entered perhaps to most surreal experience in any of our lives. I think intuitively many of us believe it may be a more lasting impact than just “60 days at home,” which is why we almost have a nervous laughter when we call (Zoom!) somebody we haven’t spoken to since before the crisis and acknowledge how bizarre we all feel right now.

Remind Me Why I Love You? (Why “In Person” is Everything)

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You had an amazing meeting with an investor. Your product demo crushed. The dialog was great. They told you how much they loved your space. The meeting was only supposed to last 45 minutes but you ran 90. The assistant tried to end the meeting twice but was shoooshed away.

What Did I Learn From the First VC Check I Ever Wrote?

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I became a VC 12 years ago in 2007 when the pace of deals was much slower. I had just left Salesforce.com where I was VP, Products, after they had acquired my second startup.

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How to Improve Your Odds of Getting to Yes with a VC — “Land and Expand”

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If you’ve read any of my ongoing series on fund raising from venture capitalist (episode 1?— ?controlling controlling your psychology ) you no doubt have heard me say that raising capital is a sales & marketing process.

High Functioning vs. Low Functioning Startup Boards

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I’ve sat on many boards over the past 2 decades and seen my share of high-functioning boards and low-functioning boards.

A Deep Dive into What Has Really Changed in Venture Capital

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I’ve heard a lot of people question whether there is too much money in venture capital chasing too few great deals. “We’re We’re in a new tech bubble!” some have pronounced. Valuations are out of control” is the mantra of others.

How Many Investors Should You Talk to in a VC Fund Raise? And How Do You Prioritize?

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This is part of a series of advice for founders who need to raise money from venture capitalists. The first in the series is “ Lemons Ripen Early ,” which also has a link to other posts.

One Simple Way to Eliminate Distractions in a Board Meeting

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Photo by ROBIN WORRALL on Unsplash Several members of your executive taken hours to prepare board materials so that you can inform your board of how things have gone since you last met 3 months ago and you have 3 hours together to make sure they have an accurate picture and to make sure you have their input into how to proceed in the months ahead.

Three Bitcoin Billionaires Share Their Story of How They Moved Early into the Asset Class

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At the recent Upfront Summit my partner Stuart Lander had the opportunity to show some California Love and interview three of the wealthiest Bitcoin owners, each of whom were some of the earliest owners in the asset class and who haven’t sold any of their holdings.

How to Run an Effective Networking Dinner

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Photo by Juliette F on Unsplash Networking is a critical part of relationship building and there is no event more valuable to building relationships than the proverbial “breaking of bread” with people.

The Truth About the Scooter Economy?—?An Insider’s Perspective

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The Truth About the Scooter Economy?—?An

How to Out Amazon, Amazon

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There has always been tension between CPG (consumer packaged goods) companies and the retailers who sell their products to consumers.

The One Thing That Great Leaders Understand

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One Thing That Great Leaders Understand I was scanning Twitter this past week and I came across these great Tweets by Michael Seibel at Y Combinator. When I was young I thought management was about distribution/delegation of responsibilities.

How to Talk About Valuation When a VC Asks

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One of the hardest things about the fund-raising process for entrepreneurs is that you’re trying to raise money from people who have “asymmetric information.”

This is the Dumbest Op Ed I’ve Read in a While

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I understand that Adam Grant is a fairly popular professor at Wharton and has a book that some people loved called “Originals” (for me it interesting but not mind blowing, and I have some first-hand knowledge of some of its inaccuracies).

How to Be a Good Board Member

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I have been writing a series on how startup boards get selected, who sits on them and what to avoid. I will also delve into how to prepare for them, how to make the meeting effective and how to best follow up to make sure people take action.

The VC Inclusion Clause #MovingForward

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Upfront Ventures has a deep-seated commitment to equality in funding & building diverse teams across all ethnicities, nationalities and genders. We do this not just because it’s the right thing to do but also we believe it will help drive large and differentiated returns.

Understanding What’s Going on in #LATech

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Upfront Ventures was created 20 years ago as one of the original VC funds in Los Angeles. Back then only 15% of our dollars were invested locally whereas today 50% of our dollars are invested in LA.

How to Prepare for a Board Meeting to Make Sure you Crush It

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Most board meetings are administrative updates that accomplish very little other than inform board members about the performance of the company since the last board meeting.

What Happens When Startups Turn from Their Innovation Stage to Operational Excellence?

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Nearly every successful tech startup I’ve observed over the past 20 years has gone through a similar growth pattern: Innovate, systematize then scale operations.

Who Should be on Your Startup Board?

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One of the things that founders have the most angst about is whom they should have on their board and at what stage of the business.

How I Promise You One of the Most Meaningful Days of Your Life

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I know the title “I promise you one of the most meaningful days of your life” sounds grandiose but I mean it and I hope you’ll read through to the end and choose to take one small, totally free action, that will change your life and likely those of others.

Managing Your Startup Board?—?A Short Presentation

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Managing Your Startup Board?—?A A Short Presentation I was invited to do a keynote presentation at the Khosla Ventures CEO Summit this week in Sausalito.

Venture Capital is About Human Capital

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Gregg Johnson, CEO of Invoca For the first 5 years or so after I became a VC I didn’t talk much about what I thought a VC should be excellent at since frankly I wasn’t sure. I was mostly doing my job and trying to figure out how to be better every day.

Why Confidence is So Important in Fund Raising

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I was recently with an entrepreneur and talking with him about his fund raising process. He was in a later-stage financing round and was talking with many investors. Some started asking him for very specific analyses to be completed on his data and wanted his company to crunch the numbers.

How Much Should You Raise in Your VC Round? And What is a VC Looking at in Your Model?

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There’s a quick litmus-test conversation any early-stage VC will have with the founder and it’s one that you should be as prepared for as your elevator pitch. It goes something like this … VC: “How much money are you raising?” Founder: “$8–10 million” VC: “What’s your current burn rate?”

All The Questions You Wanted Answered about Bird Scooters and Their Recent $300 Million Funding

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My friend Michael Broukhim, founder & co-CEO of FabFitFun and I recently had a catch-up meeting for 3-miles on the Santa Monica “Bird Trail” No company has ever elicited so many questions by friends, colleagues, entrepreneurs, fellow VCs and journalists as has Bird, the company that pioneered the electronic scooter as a service market.

What Can You Learn From Ring’s Astounding Success?

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Many people will write the history on why Ring became an enormously successful company and why it became a real-world unicorn in a world when many startups are anointed that merely on paper.

What Should You Send a VC Before Your Meeting?

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One of the hardest things to know when you’re new to fund raising is what you’re supposed to send to an investor, when and will they keep your information confidential. As a VC and former entrepreneur let me offer you some advice. This is part of a series on how to improve your fund raising game.

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The Case For & Against Cryptocurrencies (for those tired of all the noise)

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In more than a decade of writing about the Internet and tech-enabled businesses I’ve learned that mobs don’t do nuance well.

Why Female Founder Office Hours is So Important

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If you haven’t yet heard about Female Founder Office Hours it is an initiative you should be aware of whether you’re male, female or any other gender identify.

Some Quick Things Every Founder Should Know

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One thing that comes with being a venture capitalist is you see hundreds and hundreds of businesses. You get to have interesting conversations with founders and review business plans and then see how these businesses evolve over the years.

Startup Boards

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Startups that are backed by professional financial investors almost always have a Board of Directors that consists of some set of founders, investors and sometimes independent directors.

Why you should never have a data room — the most counter-intuitive fund-raising advice you’ll ever…

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Why you should never have a data room?—?the the most counter-intuitive fund-raising advice you’ll ever get I’m about to offer you some fund-raising advice that flies directly in the face of what most conventional wisdom will tell you.

Why We Must Have Zero Tolerance for Sexual Misconduct in Venture Capital

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Time Magazine published its “person of the year” edition today and honored “the silence breakers” for speaking up and forcing our society to confront its position towards men in power exploiting their power for sexual gain. Real change is clearly needed.