A few days ago, I did my good deed* of the day by introducing a start-up to a potential customer of theirs.
Nothing unusual about it except that the start-up was not one of our portfolio companies (and neither was I a shareholder or a beneficiary in them).
I am not usually this altruistic 
… but this was a special company.
I was first introduced to them more than three years ago…and at one point we came very close to doing a “deal”. Although we ended up walking away (for reasons of valuation and some other concerns), I continue to remain excited by the opportunity that their technology offers and I am reasonably confident that - with a little bit of fair wind – this could be a great European success story…
Now – as I said before – we actually ended up not doing the deal…so on the face of it, there is little reason to stay engaged and even less to actively help them.
In the larger scheme of things though:
- The world is a small place (and the VC community even more so)
- Life is too short to complain about sour grapes and
- What goes around, does come around (including good deeds and great ideas)…
So nurture your relationships carefully - good friends and great entrepreneurs are hard to find (and harder to maintain).
For more on good deeds (or good turns, to be precise) read this. I was a Boy Scout once – old habits die hard!
* Scout logo courtesy: http://pinetreeweb.com/wosm-india.jpg
April 26th, 2007
Posted by
Shantanu |
Entrepreneurship, What VCs really do |
3 comments
…yes, we are talking of VCs!
On a more serious note, there is some pretty *hot* discussion going on at Vecosys (Sam Sethi’s post on VCs, Innovation ecosystem etc) and on Fred’s site re. the Broken Ecosystem for innovation etc..
Compelling read for anyone interested in the startup and VC scene in UK/ Europe…
Fred is also soliciting first-hand experiences of entrepreneurs and start-ups while dealing with VCs/ Investors….Jump in here…
March 29th, 2007
Posted by
Shantanu |
Entrepreneurship, Venture Capital in Europe |
no comments
…the BBC makes it one of their top stories!
From the BBC story, “Inside the Silicon Valley tech bubble“…well written and entertaining, albeit with a sobering tone towards the end.
Below are some excerpts (emphasis mine):
“…Each month in San Francisco an audience of technology lovers, bloggers, journalists and potential investors gathers at the headquarters of technology news firm Cnet to hear four firms pitch their ideas.
Called the New Tech Meet Up, it is a networking event in which the “next big thing” in web developments meets the audience looking out for the hot new tip.
…In the audience is well-known west coast trend spotter Michael Tchong.
He tells the crowd: “There’s a huge amount of cash floating out there and it’s chasing too few good ideas.” This is what the audience wants to hear – that they don’t have to chase fortune with their plans, the money will chase them.
Across San Francisco and down into the Valley people believe the boom times – known as the bubble – are back.
…A year ago, the San Francisco New Tech Meet Up was eight people in a bar discussing technology; now there are more than 1,000 registered members.
…Mike Shroepfer, vice president of engineering for Firefox developers Mozilla, says the best way to work out if Silicon Valley is booming is to look at the traffic on Highway 101 which snakes down from San Francisco.
“If the traffic is a killer then you know times are good. “When the commute is pain free then that’s a signal that the bubble has burst.”
On that basis alone, times must be good in the Valley, for the journey on the 101 is painful indeed.
March 27th, 2007
Posted by
Shantanu |
Entrepreneurship, Venture Capital in US |
7 comments
I am not sure how many of you have read this piece before…I had (about three years ago and forgotten all about it) until I stumbled upon it again – completely by chance – in the middle of a hard-disk cleanup this weekend…
In 1999, in a background research that lasted over 10 months, San Francisco Chronicle staff writers Reynolds Holding and William Carlsen investigated allegations of widespread legal and ethical misconduct in Silicon Valley.
The result of their work was this “series about the dark side of the Silicon Valley miracle.”
Starting with “Phantom Riches – Beneath glitter of SilValley, corruption and deception”, it detailed, “some of the most egregious cases of securities fraud, trade-secret theft and abuse of small entrepreneurs…”
This extraordinary account from almost 8 years ago… “is a story about greed and hubris, about high-powered executives and boardroom dealmakers who operate with flagrant contempt for the rules of law and ethics.”
A long read…but truly engrossing…
Read on.
March 9th, 2007
Posted by
Shantanu |
Entrepreneurship, Venture Capital |
one comment
Ben Holmes of Index Ventures recently gave a presentation at the FOWA Conference in London which builds a neat story around “Everything you need to know about Venture Capital“…
The slides are up on slideshare - worth viewing.
Saul Klein and Fred Destin have also blogged about this.
February 26th, 2007
Posted by
Shantanu |
Entrepreneurship, FAQs for Entrepreneurs, Venture Capital, What VCs really do |
no comments
A few days ago, Shefaly sent me this link of a BBC News story: From Oxford to Silicon Valley.
In her own words, it is, “Very interesting (and)…although nothing new, but to see it being said again by a young man in 2007 makes it worth paying attention to. “
The piece is written by Kulveer Taggar, CEO of boso.com and he writes about why he moved to Silicon Valley and why California is the place for those with entrepreneurial spirits.
Kulveer cites a few reasons behind his move:
• Chance meetings and chance conversations
• Expensive London
• Competition for talent in London (with I-Banks and consulting firms)
• Difficulty in raising capital
He also mentions how in California:
• The spirit of co-operation is strong.
• ”Networking” isn’t something that has to be organised or encouraged, it just happens.
• The weather is great and the vibe is friendly, optimistic and ambitious!
• Big thinking is encouraged and not frowned upon as is sometimes the case in London
While Silicon Valley no doubt is “a great place to start a company because there is more capital, a bigger talent pool , and because the most important companies and people are here”, I really think that Kulveer is a bit harsh at times, e.g. “The risk appetite amongst British investors is low, and it was also frustrating that I often ended up educating investors about the internet in general.”
While composing a response to this, I chanced upon this post by Saul Klein, “Y Europe can seed growth of its new stars”…After reading that, there was really nothing left to say…
Below are some excerpts from Saul’s excellent post…but do try and read the original in full and also the comments….lots and lots of good thoughts there… Keep Reading…
February 25th, 2007
Posted by
Shantanu |
Entrepreneurship, Venture Capital in Europe |
one comment
