Category: Startups

Greed vs Value Creation

~ michael_msft ~ Leave a comment

It’s a struggle sometimes for sure but lately it just feels like most of what is going on in the valley is straight up greed.

https://twitter.com/arrington/status/836345845477851136

I am not a huge Arrington fan but I think he makes a point. Is this a cyclical thing? Is there too much capital around? Is the Trump era to blame?

I tend to think it is more related to the pressure cooker of expectations around always having to have that big exit and making everyone rich versus building cool shit. I know there is a fine line. And I am not saying that I don’t want to make money but there is a difference in my opinion.

Uber as of late just feels like greed. Let’s treat employees like shit, let’s skirt the law and let’s steal stuff to win it all because they are changing the world? It’s too much. You can’t demolish everything in your path and still keep telling your customers that we should trust you ferrying our wive’s and children around. Enough already. I honestly hope Google takes them to the cleaners.

Snap. Who knows on this one but the way they are doing things feels to me like just wanting to cash out versus build something for the long haul. Again, I could be all wrong and this is the technique they are using to get enough money to defend their turf and build something amazing. Only time will tell. I could be all wrong. With Facebook I bought on the dip and held. That’s worked out okay so far. Not sure I would with Snap.

WeWork. Is this really a revolution or is it a modern day real estate play with co-working throw in to be cool? No one knows yet but the Softbank deal feels like greed to me. Let’s see what they do.

I used to miss the valley but I am not sure I could survive there. I am not that greedy to be honest. Interesting times.

I am glad I live in Singapore.

Uber’s month from hell!

~ michael_msft ~ 2 Comments

And now the investors are piling on :: https://shift.newco.co/an-open-letter-to-the-uber-board-and-investors-2dc0c48c3a7#.wro1quz15

#deleteUber

Then the latest on all the sexual harassment

Adding the recode link :: http://www.recode.net/2017/2/23/14717432/waymo-otto-uber-anthony-levandowski-lawsuit

And now :: https://medium.com/waymo/a-note-on-our-lawsuit-against-otto-and-uber-86f4f98902a1#.j81e8os6u

We found that six weeks before his resignation this former employee, Anthony Levandowski, downloaded over 14,000 highly confidential and proprietary design files for Waymo’s various hardware systems, including designs of Waymo’s LiDAR and circuit board. To gain access to Waymo’s design server, Mr. Levandowski searched for and installed specialized software onto his company-issued laptop. Once inside, he downloaded 9.7 GB of Waymo’s highly confidential files and trade secrets, including blueprints, design files and testing documentation. Then he connected an external drive to the laptop. Mr. Levandowski then wiped and reformatted the laptop in an attempt to erase forensic fingerprints.

Wow. Not even a professional hijacking. Just straight up stealing and trying to cover it up.

Guessing Alphabet has plenty of cash and an axe to grind. Seems to me it’s time for the CEO to step down and let an adult run the company before it is too late.

Singapore

~ michael_msft ~ 1 Comment

I used to travel to Singapore back when I lived in Hong Kong and was always glad when I returned back to HK. It was probably the combination of the era and where my head was at the time. Fast forward many years and many countries and I am now living, proudly, in Singapore. I specifically targeted Singapore due to wanting permanent residency somewhere in Asia. HK has silly rules for it and most other countries don’t have the benefits for becoming one.

Singapore has a good PR program in my opinion. On top of that it is a safe country, with good schools and I like raising a family here. Sure – it is a small island and things can be expensive and a little boring at times. All in all though I enjoy the island but as a venture capitalist, I absolutely love this place.

Singapore is at the center of the Asian startup scene and this is no longer an emergent scene but a growth scene. All one has to do is look at the politics of surrounding countries or the shit show in America to be thankful for not only being in a safe place but in a country that understands it’s position but more importantly, has a detailed roadmap for how to stay in the lead.

Over the weekend I was reading this :: https://seedvc.blog/2017/02/12/weekend-reading/

I am going to dive into the full version during the week, you can find it here :: https://www.gov.sg/~/media/cfe/downloads/cfe%20report.pdf?la=en

I’ll try and digest some interesting sections in future posts.

happy monday.

 

Updated :: Upfront State of the VC & Tech Industry 2017

~ michael_msft ~ Leave a comment

This is really good. I need to dissect it more and think about Asia in regards to some of the thoughts. Funny – Singapore is in the deck a few times but maybe not for what you think.

I wrote about the conference scene we are missing a little here so it is cool to have a nice deck to digest.

A good primer to the deck is this small digest from Mark Suster :: https://www.cooleygo.com/quarterly-vc-update-mark-suster-state-venture-capital-investing/

Envious of the USA conference scene

~ michael_msft ~ 3 Comments

Gonna throw a few links at you today. One of the things I have missed about not being in the states is the conference scene. I am not saying Asia doesn’t have any that are good but they just don’t yet compare to the quality and level of speakers. Maybe it is just me so if so – tell me to shut up.

I hope someday to get to Recode’s Code Media Conference :: https://events.recode.net/events/code-media/

It is on my list for 2018.

For VC conferences I think the Upfront Summit looks awesome :: http://summit.upfront.com. I am going to figure out how to get into it for 2018 as well. I assume they will post some videos soon but if you follow Mark on his podcast link – they have dropped some good audio interviews.

Love this one with Cuban :: https://overcast.fm/+BxlT794oA

He has a really good quote in there. He is asked about startup ecosystems outside of Silicon Valley and what is the difference. He goes on to state that the only difference is the exits. I tend to agree with this. You can build a startup, get funded and make money in any location but you might have a hard time exiting. Sure – not everything needs to exit but generally, almost always, a venture backed business needs an exit through acquistion or going public at some point. That’s how the capital system functions. Like it or not.

Lots to ponder.

Seed Stage Docs

~ michael_msft ~ Leave a comment

We think about creating something like this but right now don’t have the time. However I think this is a pretty good set and well thought out. I am not endorsing these but given the amount of crappy docs I have seen I think something like this is a pretty good place to start.

http://www.seriesseed.com

Also – if you are a founder trying to raise money and you have not read Venture Deals yet then you are making a big mistake. Get educated before you get funded.