In downturns, good salaried jobs are hard to find, because nobody is quitting. So good people (and cheap assets) are plentiful. The absence of cheap, easy capital means the concept has to work from day one. Founders in downturns imprint a more disciplined DNA on the company’s culture—they have no choice. Clients and consumers are also more open to

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The startup ecosystem is experiencing a series of changes that can't be ignored:- cambrian explosion of funding availability- more value is being created on private markets- going from zero to one is no longer a dark art - ie more talented operators, more infrastructure to build quickly and cheaplyChange is coming to the VC ecosystem. Who will win:... See more

By definition, you will likely succeed a vanishingly-small percentage of the time, but—as the saying goes—that’s a feature, not a bug. The point is to venture—fistfuls of money in hand—at the furthest extremes of capitalism, hoping to stumble upon that rare, proper intersection of technology and commerciality.By design, most investments will miss t... See more