I love this post from Bryce Roberts (OATV) titled You’re Doing It All Wrong.
Every great company I’ve ever worked with has its own style, personality, approach, strengths, weaknesses, and quirks. Experience – and inexperience – when combined with an amazing new opportunity, creates really unique characteristics that – over time – mix with other company DNA to create new characteristics. Funny – just like humans.
Bryce Roberts (OATV) totally nails it in his post titled You Can Never Size a Market in Excel. The punch line is:
“In every single case that I’ve seen this question (“how big can it get”) persist over more than 2 meetings, it has NEVER been resolved. NEVER.”
There’s plenty of great stuff in the post – go read it.
Remember – Ask the VC reads all of the VC bloggers for you so you only have to read the best posts!
Mark Suster (GRP) gets the VC post of the day with his post Avoid Monoculture. Travel. Read Widely. Let Experience be Your Compass. It’s a really great post to read just before the weekend to remind you to make sure you are living your life and constantly exploring new things, rather than just being heads down on whatever you are working on. I’ve spent much of the summer in Europe (in Paris and Tuscany) “just living” – which includes plenty of work, but a completely change of context for how I live my every day life. I’ll write a lot more about this on Feld Thoughts after I get back to Boulder, but in the mean time much of what Mark said rang true to me as I read it, especially:
“Challenge conventional wisdom. Fight monoculture. Question authority. Take lots of inputs but then let your internal compass set your course. If “all the cool kids are doing it” make sure you have strong internal logic for why you’re going to follow them. Often it’s not the best course.”
Bryce Roberts (OATV) gets runner up with his post There Is No i In Apple. It’s a great reminder of the difference between “i” and “we”. The paragraph that nails this is:
“Reading through the many compilation of Jobs’ quotes last night a similar theme emerges. When speaking of personal foibles or lessons learned he uses I and Me. But, when he speaks of the company he founded, was fired from and helped resuscitated to life he speaks in We and Us.”
If you are in the northeast US this weekend, be safe!
Today’s VC Post of the Day is from my partner Seth Levine (Foundry Group) and is titled Should the current market environment change your fundraising strategy? I think it’s right on the money and captures / synthesizes much of the valid advice flying around from VCs and pundits about how entrepreneurs should think about fundraising right now. Do yourself a favor – read it slowly and think about it.
The runner up post of the day is from Bryce Roberts (OATV) titled A Year Ago. It’s a heartfelt reflection from Bryce on living in Silicon Valley for a year after uprooting and moving his family from Salt Lake City.