Posts from July 2015


我看见了Phil Libin登上董事长和Evernote董事会的消息已经聘请克里斯·奥尼尔担任首席执行官。.I don't know much 亚博体育app下载苹果版 Evernote,I don't use their product,but I admire the 亚博体育下载app and I like the idea of a founder leading a 亚博体育下载app without being its Chief Executive Officer.There are many examples of this working.最著名的是劳伦斯·埃里森在甲骨文公司的角色。Larry doesn't run the business on a day to day basis but his influence is felt deeply in that 亚博体育下载app.这种关系的另一个很好的例子是LinkedIn的雷德·霍夫曼和Jeff Weiner。.

Leadership is different than management.I have said that many times before on this blog and I will say it again.我相信这是真的。领导是魅力,strength,communication,vision,listening,calm,connecting,信任,faith,和信仰。管理层招聘,retaining,委派,决定,communicating,and above all executing.Many CEOs do both for their companies.但是从创始人和管理层中获得领导力是一个非常有效的模式。.

The key to making this work is having the founder totally bought into the split roles and totally bought into the person who is going to be the executive and provide day to day management to the 亚博体育下载app.In the leadership role the founder must step back and allow the executive to manage the business.They need to step in when leadership is required.通常情况下,当需要艰难的决策时,创始人的本能可能是非常有价值的。.

A really good Board can help the founder and the executive figure out when management is required and when the founder's leadership is required.但是董事会不能保住这种关系。It has to work and be functional between the two people.If it is not,then someone has to go and that is usually the executive.这是因为创始人的领导地位难以取代。一个强大的经理和执行官不容易找到,但人才存在于市场上的许多地方,并且不会因为建立关系而不可避免地被绑定到亚伯拉罕下载应用程序。.

If a founder can find their manager/executive inside of their 亚博体育下载app,that is ideal.Because going with a known relationship vs a brand new relationship produces a higher likelihood of success.But you don't have to do this.Jeff Weiner是从LinkedIn外部聘用的。And,I believe Chris O'Neill was hired from outside of Evernote.Both approaches can and do work.但是,如果你有一个强大的经理/行政人员在您的StudioTraceDebug应用程序中,I would strongly suggest trying that.It is lower risk..

I have also seen a fair bit of talent churn out after the founder steps up to Chairman,particularly in the senior team.That's a reason that many founders are nervous 亚博体育app下载苹果版 doing this.我的建议是去做这件事。任何新CEO任期的第一年都将是非常艰难的,需要重建高层团队,no matter what.But that can be healthy for a business too..

I admire Phil Libin's conviction that he is not the right CEO for the next stage of Evernote.And I would encourage him to stay deeply involved in the 亚博体育下载app,providing the kind of leadership that only a founder can provide.并支持他选择的CEO,他将需要它的黑桃。I wish them both success in this transition..


Over the weekend I got an email from an entrepreneur wanting to come pitch his startup to USV.He copied my partner Andy on the email..

我立刻想到:I'm going to let Andy reply to this one.“但几天后,电子邮件仍然坐在那里,我的收件箱没有回答。So then I thought"Andy is probably waiting for me to reply to this.““

Finally I shot Andy an email and we compared notes on it and then I replied to the email..

但事情并不总是这样。I've seen a similar situation end with neither partner replying to the email and it goes unresponded to..

I call this situation email hot potato and entrepreneurs should avoid it by sending an email to only one partner at a VC firm,not two or more..


The important thing here is to avoid confusing who has the responsibility to reply to the email by putting multiple responsible parties on it.While it would seem that it would increase the likelihood of getting a reply,它实际上减少了它。.

The No Hands Syndrome

Last week I saw this tweet fromDan Primackwho covers the VC sector for Fortune:

I replied to it and I also mentioned it in a comment thread here at AVC recently..


比特币/ BitCu链是创业板发展最快的行业之一。Here's a chart from VC汤古兹博客..



And yet not one VC in a room full of them (90 of them) raised their hands when asked how many would invest in a bitcoin startup..

Maybe the distinction is bitcoin vs blockchain.I understand that.But bitcoin and blockchain are joined at the hip.You don't get one without the other.所以我还在搔痒。.

But I do know one thing.When not one hand goes up in a room full of VCs,go there.It is going to be profitable..

Video Of The Week: Watching Videogames

昨天我和我儿子聊天了,我看了游戏,看游戏,玩游戏。He told me he doesn't watch a lot of videogame play on the web,but he has friends who are really into watching others play videogames..

Of course,this is not new.Amazon bought for almost a billion dollars a year ago.And more and more people are watching others play videogames instead of or in addition to playing them..

Here's an example of why:

Feature Friday: In App Advocacy

一段时间以来,网络和移动公司一直在使用面向应用程序的“亚博-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝-贝”入口,来倡导他们关心的政策是下载苹果软件。回到PIPA/SOPA战争中,Wikipedia,Tumblr,and a number of other high traffic apps went black and made a big impact on that debate..

Yesterday Uber added a De Blasio mode in NYC to their rider app..


Which takes the rider to this screen:

de blasio's uber


The Mayor and his administration want a temporary hiatus on additional Uber drivers on the roads in NYC while they complete a congestion study to see what impact the massive influx of Ubers on the roads in NYC are having on traffic..


这是Uber的一个明智之举,I am not sure it will work because the constituency that elected Mayor De Blasio is more of the subway rider crowd than the Uber crowd..

但是纽约政治很复杂,尤伯正在努力处理这个系统。And using in app advocacy to further their cause..

Bitcoin Trends In The First Half of 2015

我们的投资组合a"Bitcoin Trends"博客帖子yesterday.It's a quick and interesting read..

Here are my two favorite charts from it:

I've said this before and I will say it again,the exchange price of Bitcoin is not the most important number to look at.The things to look at are transaction volume on the network and developer adoption.在这两个指标上,Bitcoin seems to be doing quite well..

Getting Knocked Down

我最近和一位企业家一起吃早餐。He had a really rough start to 2015.His business had a tough year in 2014 and he realized at the start of 2015 that if he didn't make some big changes to the team and operating structure and costs he was going to hit the wall.He sort of did hit the wall to be honest..

He cut out a layer of management,he cut costs across his entire operation,he got back involved in his product and operations,he worked harder and longer than he has ever worked,including when he started the 亚博体育下载app..


After he told me all of this,I told him that I've never met a successful entrepreneur who didn't get knocked down in the ring at least once or twice.我告诉他,你可以阅读所有你想要的,并获得所有的建议和教练,是可用的,你仍然不会学到艰苦的教训,一个人必须学会在课堂上成为最好的你做的。我得出的结论是,你必须学习一些东西,很难真正学好它们。.

早餐结束时,I congratulated him.Not so much on getting through a rough spot in his business,but for getting knocked down and getting back up and winning the round.因为这就是你在生活和事业中必须做得更好的事情。.

The Gig Economy

Warning: This post touches politics.The comments will likely be incendiary and polarizing.Don't go into the comments if you don't want to be annoyed or irritated..

Many in the tech industry are taking these comments by Hillary Clinton yesterday as an ‘attack on Uber and the tech sector':

Meanwhile,many Americans are making extra money renting out a small room,designing websites,selling products they design themselves at home,or even driving their own car.This on-demand,or so-called gig economy is creating exciting economies and unleashing innovation..

But it is also raising hard questions 亚博体育app下载苹果版 work-place protections and what a good job will look like in the future..

第一个例子是Airbnb,第二个例子是OTHOTED,the third example is Etsy,and the fourth example is Uber..

My view on these comments is that Hillary is right.这些公司正在创造令人兴奋的新经济和释放创新。And she is also right that these companies raise questions 亚博体育app下载苹果版 work place protections and what a good job will look like in the future..

我们不应该害怕这个讨论。We should embrace it and have it..

Can you be a freelance worker if you don't own the data 亚博体育app下载苹果版 your work and earnings history and be able to take it with you when you leave a platform or export it to a third party for optimization?Can you be a freelance worker if you are indentured to your employer because they loaned you the money to purchase the asset you are using to earn your income?I think the answer to both is obviously no.但也有一些公司认为这是肯定的。.

Let's have that argument.It is important and it is also a good idea to have a President who understands where the economy is headed and the significance of the policy issues raised by all of this..



I've written 亚博体育app下载苹果版 this issue a number of times on AVC.There are some advantages to having a non-founder run the business,但从长远来看,创始人主导的企业似乎是最好的企业。.

这个苹果公司by鲍勃莱夫塞茨is a fun read and regular readers will know that I am mostly in Bob's camp on this issue..

The ending is great..


事实上,这是所有的应用程序。Sure,a group can effectuate the vision,but it always comes from one person,也许是两个队,当然不是委员会。.


Mark Zuckerberg is Facebook..

Larry and Sergey are Google..

Daniel Ek是Spotify


Who is Apple??


One of the things 亚博体育app下载苹果版 Bitcoin that I've always been amazed by is its resilience.它上升,它被击倒,但它挂在那里,然后它又上升了。.

It's happening again now..


It is unclear what is driving this recent move,也许是希腊,maybe its China,maybe its something else..