I want to share a very personal story with you today. It’s not one that I tell often – partly out of embarrassment, and partly because it’s kind of painful to think about… Let me begin by saying how truly blessed I feel each and every day.
Can you imagine losing $119 billion in a single day? That might sound like an impossible amount of money to lose in any amount of time, but in the high-stakes world of startups, it really can happen in a day.
Imagine yourself sitting in a high-backed leather chair in an oak-paneled office. The year is 1905, and the first Ford Model-T’s have started to dot the road.
When we hear about “startup investing,” we generally think of the big paydays that occur when an early-stage company is acquired or goes public – like Google, Facebook or Tumblr. And historically, it’s true: profits from early-stage investing have come from “exits” like an IPO or a big acquisition.
Every once in a while you come across an opportunity that seems like a “sure thing...” An opportunity where it feels like you’re looking into a crystal ball – where you can see the future playing out before your eyes.
“Startup.” Ah, what an exciting word… It brings to mind the anticipation and wealth-building potential of being part of “The Next Facebook” or “The Next Google.” But for a handful of smart investors, the word “startup” conjures up something that’s a little less world changing, but (depending on how you…