Intangible Assets: The Invisible Value Driver

Mr. Johnson’s perspective with respect to the role of accounting in a chaordic world is spot-on. In the years ahead we must get beyond numbers and the language of mathematics to understand, evaluate, and account for such intangibles as learning, intellectual capital, community, beliefs, and principles, or else the stories we tell of the value and p... See more

Last week, Brad Gerstner and Bill Gurley discussed how Tech has grown from 5% to 15% of global GDP over the last 15 years, largely owing to faster growth rates.

As software companies get fitter and stack new S-curves of growth, later stage companies become highly effective capital allocators - which is why we’ve seen Tech outstrip the rest of the ec... See more

But here’s the magic few people ever talk about …We’ve created more than $1.5 billion in value to Upfront from just 6 deals that WERE NOT immediately up and to the right.The beauty of these businesses that weren’t immediate momentum is that they didn’t raise as much capital (so neither we nor the founders had to take the extra dilution), they took ... See more