Category Archives: Entrepreneurship

The CEO Job Sucks, Mostly

Posted on April 4, 2011 by payne

How can you tell if someone’s never been CEO?  They say something like, “I really want to be CEO”  I never seem to see former CEOs saying that. A few days ago, Ben Horowitz wrote one of the best blog … Continue reading →

Posted in Entrepreneurship, Ramblings | 2 Comments

Offense, Defense, and NDAs

Posted on March 26, 2011 by payne

A surprising number of entrepreneurs contacting me for investment (or advice) want an NDA before sharing any details.  I politely tell them that I don’t do NDAs, and refer them to Brad Feld’s write ups, which explain why most investors take this … Continue reading →

Posted in Entrepreneurship | 2 Comments

How Are You Acquiring Customers?

Posted on March 17, 2011 by payne

I know that “how are you acquiring customers?” is now part of a VC joke, but the question is no joke. Across the companies I work with, there’s a very strong correlation between those that found a new twist on acquiring customers … Continue reading →

Posted in Entrepreneurship, Ramblings, Software | 7 Comments

Games Are Different

Posted on November 22, 2010 by payne

I’ve become generally negative on most pure software projects.  I think it’s very hard to build large value there, for a variety of reasons: It’s insanely crowded; lots of people code these days Open-source stacks make it easier than ever … Continue reading →

Posted in Entrepreneurship, Software | 1 Comment

How Many Groupons Can We Stand?

Posted on November 10, 2010 by payne

Groupon, the deal-of-the-day company, certainly left a trail of salivating investors from their last round of funding.  Now, it’s rumored that they’re seeking funding at a valuation around $3 billion. First, congratulations to them:  they’ve built a real business with real … Continue reading →

Posted in Entrepreneurship, Software | 1 Comment

Repeat After Me: “Location” is a Feature, not a Product

Posted on August 22, 2010 by payne

Two years ago, Daniel Cozza and I spent a lot of time looking at location-based apps.  We brainstormed tons of ideas and prototyped one.  But we ultimately decided not to pursue it; the space (and the iPhone app space, generally), … Continue reading →

Posted in Entrepreneurship, Software | 2 Comments

More on the “Seed Fund Crash”

Posted on July 7, 2010 by payne

Following up on the “seed fund crash” meme that I commented on last week, Chris Dixon wrote a thoughtful blog post.  His main point: It’s not the seed investors who are smarter – it’s the entrepreneurs He makes a fine argument … Continue reading →

Posted in Entrepreneurship, Ramblings | 3 Comments

Coming Seed Crash?

Posted on June 30, 2010 by payne

In a recent blog post, Paul Kedrosky wrote: [T]he super-seed crash is coming. We have silly numbers of companies being seeded — I had someone at a well-known, larger venture fund tell me yesterday in San Francisco that they were … Continue reading →

Posted in Entrepreneurship | 5 Comments

I Have A Few Questions

Posted on June 10, 2010 by payne

A quick note to folks that email me unsolicited investment decks and business plans, asking for meetings.  I love to meet as many people as I can, but (unfortunately) I do not have the VC-firm army of associates to screen … Continue reading →

Posted in Entrepreneurship | 1 Comment

Startup Investing: “Growth” vs “Value”

Posted on June 5, 2010 by payne

Individual stock investing can be divided into “growth” & “value” strategies.  Growth investors find companies that will grow at an above-average rate.  Value investors try to find deals:  companies that are trading below their intrinsic value. I’ve found venture investors … Continue reading →

Posted in Entrepreneurship, Ramblings | 1 Comment