Archive for February, 2008
A little over five years ago, Andrew Anker and I started chatting about blogging. There was plenty of blogging going on already for sure. But no one in the Sand Hill crowd was thinking about it. At the time there was still a prevailing sense that venture investing was a black box and any view into the box was a bad idea. Andrew and I talked about the fact that we didn’t buy that. We thought there were all sorts of things VCs could talk about that would be interesting and valuable to entrepreneurs. Andrew proposed we start VentureBlog and came up with the tagline “A Random Walk Down Sand Hill Road” — we laughed and VentureBlog was born.
Five years ago (technically, five years ago tomorrow), Andrew posted our “Hello, World.” Andrew wrote that we would chat about what we do as early stage venture investors and concluded, “Mostly, we’ll figure it out as we go along. No idea if this is a sustainable idea or not, but we’re going to give it a go. Enjoy!” Since that first post there have been a few different folks come and go on VentureBlog, but, for better or worse, I have stuck around and kept on writing. I have tried my best to give a view into the black box and bring a little humor to it in the process. It has been a blast.
One thing has changed for sure since we started VentureBlog. There are now dozens of VC bloggers. From Sand Hill Road (Jeremy Liew, Susan Wu, etc.) to New York City (Fred Wilson, Ed Sim, etc.) to Colorado (Brad Feld, Ryan McIntyre, etc.) to Boston (Mike Hirshland, Jeff Bussgang, etc.) to Philadelphia (Josh Kopelman, Chris Fralic, etc.?). The problem entrepreneurs have is no longer finding information, it is sorting through it. So much has been written and so much more will be written about startups and entrepreneurship and Venture Capital. And I learn a pile from all of you every day. So thank you.
As for the question of whether or not VentureBlog is a sustainable idea, I guess the answer is “yes” and “no.” I have been writing with varying degrees of frequency over these past five years. It is great to have a venue to share my thoughts when something jumps out at me. And I hope to continue writing for the foreseeable future. On the other hand, in the face of superhuman VC bloggers like Fred Wilson and Brad Feld, I feel deeply inadequate. How they manage to write day in and day out while finding time to do anything else is truly beyond me. My hat’s off to them. And my apologies to those of you who feel that VentureBlog is too infrequently written to be relevant. I will try harder.
I greatly appreciate the conversations we’ve had here at VentureBlog. And I am thrilled to see the massive ecosystem of VC bloggers that has emerged. Many thanks to those of you who continue to read, link and comment. It has been a monumental education and a great privilege. And a huge thanks to Andrew for getting this whole thing started. Here’s to the next five years.
A little over five years ago, Andrew Anker and I started chatting about blogging. There was plenty of blogging going on already for sure. But no one in the Sand Hill crowd was thinking about it. At the time there was still a prevailing sense that venture investing was a black box and any view into the box was a bad idea. Andrew and I talked about the fact that we didn’t buy that. We thought there were all sorts of things VCs could talk about that would be interesting and valuable to entrepreneurs. Andrew proposed we start VentureBlog and came up with the tagline “A Random Walk Down Sand Hill Road” — we laughed and VentureBlog was born.
Five years ago (technically, five years ago tomorrow), Andrew posted our “Hello, World.” Andrew wrote that we would chat about what we do as early stage venture investors and concluded, “Mostly, we’ll figure it out as we go along. No idea if this is a sustainable idea or not, but we’re going to give it a go. Enjoy!” Since that first post there have been a few different folks come and go on VentureBlog, but, for better or worse, I have stuck around and kept on writing. I have tried my best to give a view into the black box and bring a little humor to it in the process. It has been a blast.
One thing has changed for sure since we started VentureBlog. There are now dozens of VC bloggers. From Sand Hill Road (Jeremy Liew, Susan Wu, etc.) to New York City (Fred Wilson, Ed Sim, etc.) to Colorado (Brad Feld, Ryan McIntyre, etc.) to Boston (Mike Hirshland, Jeff Bussgang, etc.) to Philadelphia (Josh Kopelman, Chris Fralic, etc.?). The problem entrepreneurs have is no longer finding information, it is sorting through it. So much has been written and so much more will be written about startups and entrepreneurship and Venture Capital. And I learn a pile from all of you every day. So thank you.
As for the question of whether or not VentureBlog is a sustainable idea, I guess the answer is “yes” and “no.” I have been writing with varying degrees of frequency over these past five years. It is great to have a venue to share my thoughts when something jumps out at me. And I hope to continue writing for the foreseeable future. On the other hand, in the face of superhuman VC bloggers like Fred Wilson and Brad Feld, I feel deeply inadequate. How they manage to write day in and day out while finding time to do anything else is truly beyond me. My hat’s off to them. And my apologies to those of you who feel that VentureBlog is too infrequently written to be relevant. I will try harder.
I greatly appreciate the conversations we’ve had here at VentureBlog. And I am thrilled to see the massive ecosystem of VC bloggers that has emerged. Many thanks to those of you who continue to read, link and comment. It has been a monumental education and a great privilege. And a huge thanks to Andrew for getting this whole thing started. Here’s to the next five years.
An interesting debate has broken out between Glenn Kelman and Mike Arrington. Glenn is the CEO of Redfin, a Seattle-based startup that is trying to modernize the process of buying and selling homes. Glenn’s a smart guy and a great entrepreneur. And he has always struck me as quite thoughtful. Which is why I was surprised to read his recent blog post entitled, “How Green Was My Valley.” In that post, Glenn extolls the virtues of Seattle, while attacking Silicon Valley:
“the Valley’s monomania is really just a kind of pubescence. What else could account for the Valley’s self-righteousness, its congregations of frustrated dudes, its all-nighters, idealism, delusions of grandeur, mood-swings, longings, dramas, hero-worship and pranks? Anywhere else by contrast seems all grown-up.”
Wow. Those are strong words. And the rest of his post is equally provocative. Glenn doesn’t just praise Seattle. He berates the Bay Area.
When I first read Glenn’s post, I almost took the bait. But I thought better of it. Mike Arrington, on the other hand, did not. Mike couldn’t have Glenn badmouth the Bay Area as a “heartless amnesiac” without pointing out to Glenn that the Bay Area knows better than to waste its time focusing on the past. Mike couldn’t let Glenn get away with praising the Seattle lifestyle without pointing out that it is just that, a lifestyle; the Bay Area has better things to do than worry about lifestyle. Mike couldn’t let Glenn get away with baldly suggesting that Bay Area businesses are trendy and Seattle businesses focus on “what works” without giving a single concrete example; the Bay Area is all about specific examples, not baseless accusations. Mike couldn’t let Glenn get away with any of it. That’s just not something Mike can do.
I don’t raise this to join in the rumble against Glenn. I am a fan of Seattle. My partners at August Capital have funded some great companies in Seattle, not the least of which is Microsoft. But I do want to take issue with one of Glenn’s criticisms of the Bay Area. Glenn refers in a number of different ways to the obsessiveness of the Bay Area and suggests that the Bay Area’s “monomania” is somehow a detriment to company building. I have to disagree. I love the obsessiveness of the Bay Area. It is the drug that fuels the Bay Area’s startup economy. And it is the drug that fuels my every day as a tech investor. I love the fact that I can talk about entrepreneurship at AYSO. I love the fact that I can have conference calls with my CEO’s at 1am. I love the fact that wildly successful entrepreneurs who could retire for life dive into their next venture within six months of leaving their last. I love the fact that Palo Alto’s newest yogurt shop is a hotbed of tech recruiting. I love the fact that I funded a company after bumping into them at a local coffee shop. I love the fact that school auctions include items like “a tour of Facebook” and “10 hours with a trademark attorney” and “company logo design.” Is it obsessive? You bet. Is it good for business? You bet.
To tell you the truth, I don’t actually think that the obsessiveness of successful startups in the Bay Area is any different from that of successful startups in Seattle. I happen to know that Glenn himself is completely obsessed with entrepreneurship and building Redfin into the next great company. What is unique about the Bay Area is the pervasiveness of that obsession. It is everywhere you go. And I don’t think that’s a bug. I think it’s a feature.





