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In a Strong Wind Even Turkeys Can Fly

Both Sides of the Table

Within a year, by late 2000 / early 2001 consulting firms were firing people en masse. On July 27th, 2001 Accenture IPO’s and many of the partners grew fabulously wealthy. Andersen had lost its long-time CEO, George Shaheen, was hemorrhaging staff and wasn’t exactly known as being an Internet pioneer.

Turkey 302
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The Long-Term Value of Loyalty

Both Sides of the Table

Most of what I learned about operating startups I learned from the really tough years at my first company from 2001-2003. My company had raised venture capital in April 2001 but we were told that there may never be any more coming. I knew my partners for 8 years before joining GRP. We built a long-term relationship.

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Praying to the God of Valuation

Both Sides of the Table

2001–2007: THE BUILDING YEARS The dot com bubble had burst. I had realized that I didn’t have it within me to be as good of a player as many of them did but I had the skills to help as mentor, coach, friend, sparing partner and patient capital provider. Until we weren’t. Nobody cared about our valuations any more.

Valuation 466
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Be Careful not to be Penny Wise, Pound Foolish

Both Sides of the Table

I had come from a world where I was nearly a partner at Accenture before starting my first company. We went “nuclear&# and slimmed down to 33 people (yes, I know, still large by today’s standards but this was 2001), raised $10 million and we built a real company. It isn’t always necessary but it’s a mindset.

Warrant 333
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What’s Really Going on in the VC Industry? What Does it Mean for Startups?

Both Sides of the Table

The VC industry grew dramatically as a result of the Internet bubble - Before the Internet bubble the people who invested in VC funds (called LPs or Limited Partners) put about $50 billion into the industry and by 2001 this had grown precipitously to around $250 billion. Partners leave the industry. VC will shrink.

LP 311
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What Makes an Entrepreneur (4/11) – Resiliency

Both Sides of the Table

This was soon after the bursting of the dot com bubble – in early 2001. The first came from the CEO of iScraper telling me that they would not be able to complete the deal – their investor, Apax Partners, had decided not to proceed despite verbal assurances that they would. And then I got a few disturbing calls.

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Why GE’s Jeff Immelt Lost His Job – Disruption and Activist Investors

Steve Blank

In 2015 Trian Partners, an activist investor, bought $2.5 And now Immelt is now the ex-CEO, and Trian Partners just a got a seat on the GE board. During Jeff Immelt’s tenure GE’s stock-market value fell by about half. Its stock is trading where it was 20 years ago. billion of GE stock – about 1.5% of the company.