Bessemer Misses

Kudos to the team at Bessemer for this new section to their web site. It's a great admission that I wish more folks would own up to. We've all had our misses of great future hits. I wonder if Bessemer would ever post a page listing their investments in spectacular failures...

The venture business is still a cottage industry and it's not perfect, being run by human beings. It's all about people and people make mistakes. A very successful private equity investor once told me: "The game has nothing to do with being perfect, it has to do with being less wrong than the next guy."

Ma Bell is Back

I haven't posted in ages, mainly because I got swamped with a boatload of new deal activity and I switched hosting companies & was too lazy to update my blogging software. Yes, I know, that's a weak excuse.

However, after a fantastic ten day vacation in the British Virgin Islands and an inspiring event, I thought I'd try posting again.

Ma Bell is Back!

My friend Bret Swanson has a solid article in the Wall Street Journal opining on the state of affairs of the newly re-minted AT&T. It can also be found at the Discovery Institute's blog.

I'm curious to see what happens to this deal over the next decade... Can broadband be successfully commoditized across the board (for phone companies, cable service operators, wireless carriers, etc) and specialized applications drive margins to the railways of the 21st century?