The author emphasizes the importance of celebrating small wins in the long journey of venture capital. While aiming for higher goals is essential, recognizing each step along the way is crucial. Each action contributes significantly to the overall success, highlighting the value of incremental progress over time.
Measuring progress at an early-stage deep tech startup in space or propulsion or material sciences is very different from measuring SaaS startups. The goals are the same: you want to measure technology/product progress; you want to measure customer engagement and "sales funnels" for your prospects; and you want to measure progress for the next round … Continue reading 5 Venture Capital Metrics for DeepTech Startups
[This is one of the first 'Tactical Notes' - short-format observations that I jotted down some time ago, where I feel that this snippet is enough and no long format essay is necessary] Michael Polanyi’s notion of tacit knowledge (what we know but cannot fully articulate), know-how resides in practice, habits, culture, and embodied skills … Continue reading Tactical Notes: Tacit Knowledge — What We Know But Cannot Fully Articulate
Concept: Taking notes is not about capturing what was said. It is not about capturing "insights". It is all about capturing what creates alpha. On Talk and Panel Selection Make sure that more than half of your time is spent talking with people (d'oh!). Choose 80% of talks in areas that should be front and … Continue reading Mastering Conference Note-Taking for Investment Insights and Alpha
[This is one of the first 'Tactical Notes' - short-format observations that I jotted down some time ago, where I feel that this snippet is enough and no long format essay is necessary] The presence of capital events (funding rounds, M&A, fund strategy) can sometimes be over-ascribed to individual influence unless the narrative shows how … Continue reading Tactical Notes: The Weight of Capital Alone is not Proof of Superior Judgement
The content discusses the evaluation of Portal Space, a startup developing maneuverable spacecraft, following their $17.5 million fundraising. The author outlines a five-step analysis framework focusing on competitors, company challenges, investor perspectives, and potential secret weapons. Portal Space aims to revolutionize orbital agility but faces significant strategic vulnerabilities and must succeed in market education to secure investor confidence.
[This is one of the first 'Tactical Notes' - short-format observations that I jotted down some time ago, where I feel that this snippet is enough and no long format essay is necessary] We are not entitled to capital. Or conviction. LPs operate under uncertainty just as we do. In a world of competitive convergence, … Continue reading Tactical Notes: Access is Earned, Not Expected
[This is one of the first 'Tactical Notes' - short-format observations that I jotted down some time ago, where I feel that this snippet is enough and no long format essay is necessary] Capital formation strategy is a product of LP-GP fit. The best LP-GP relationships are not built on performance narratives but on shared … Continue reading Tactical Notes: Fit First, Fund Second
not every tech-enabled business needs venture capital. It's time for a new financial product tailored to the needs of critical infrastructure and national resilience.
https://creators.spotify.com/pod/show/brilliantpeoplepodcast/episodes/Erik-Anderson-Founder--CEO-of-WestRiver-Group-and-Vice-Chair-of-Topgolf-Callaway-Brands-on-Leading-in-an-Exponential-World-e32t7u1/a-abuoet6 The cornerstone of high performing teams is safety: Safety to fail, safety to doubt, safety to speak your mind, safety to disagree, safety to make mistakes, safety to not have certainty. That doesn't mean you're not accountable -- you still have to own your mistakes. But safety is at the core, especially under radical … Continue reading Tactical Notes: When Teams Fail.
