This morning I bumped into an old friend I hadn’t seen for a while, and a fast-paced catch up ensued. After a few minutes, we had dispensed with niceties and were discussing the state of society (…naturally…). In particular, we both remarked how, as we’d moved from junior to mid level roles at work, our…

I had a quiet moment last week and got thinking about the deals we pass on at work that go on to do well. Kinda like the Bessemer Anti-Portfolio (https://www.bvp.com/anti-portfolio/). When we turn deals down, there is usually a solid reason: we weren’t sure about the team, we weren’t sold on the product, we weren’t…

It’s the figure all early stage founders know. Current cash in the bank, divided by monthly cash burn, equals cash runway – or how long your company can survive before it needs further funding. And while many start-ups survive a bit longer than their cash runway suggests – usually with aggressive cost control – a…

Long blog post alert. TL;DR – law firms should just quote everyone fixed fees rather than billing by the hour. —— What must die for the legal industry to evolve? That is a key question on the lips of law firms worldwide. Put another way, “with technological change and fast-paced disruption all around us, what…

I was discussing early stage VC with my friend yesterday. It became clear that early stage VC investing can be simplified as follows: Made me chuckle.