The @nytimes front page story on @Uber today got it completely backwards. Uber and the other 17 companies to open below their IPO price since 2000 got the best of Wall Street, not the other way around. Reporters getting this wrong is a testament to Wall Street’s deception power.
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Well said. A full page ad in today's NYTimes may not have the audience of Twitter, but somehow it's more powerful.
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I guess it wasn't "good enough" to invent the Li-ion battery. So, at age 94, he improved it. Now that's Goodenough! news.utexas.edu/2017/02/28/g…
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Wow, this is incredibly well-articulated. @karaswisher you really nailed it. I hope every @facebook exec reads it slowly and carefully. nytimes.com/2018/08/02/opini…
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Over the years, @bessemervp has received lots of fun feedback on our unfortunate misses (bvp.com/anti-portfolio), so we decided to add more VC sausage-making to the public record (bvp.com/memos).
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Except that Shopify actually went public at $17 per share.
On this day in 2015 e-commerce startup Shopify $SHOP went public at $28 per share @NYSE
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Congratulating someone on a financing is like celebrating a lead at half-time. When the game ends, no even remembers the half-time score.
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When you alienate the world, it doesn't respect you, it ignores you.
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That decision did not age well.
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Oh Canada, you really can't get any more Canadian than this: nytimes.com/2016/10/18/world…
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Every inch of ad space on subway this morning was plastered with offers from high burn startups with upside down models hoping for scale.
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We definitely had fun, and I'm grateful @patrick_oshag had the courage to interview us as a trio for Invest Like the Best. Maybe it's the start of a new trend? joincolossus.com/episodes/53…
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Market capitalization now exceeds $40 billion, but who's counting?
In 2011, @Pinterest co-founders @sciarra and @8en pitched @jeremyl without a business model. But Jeremy was impressed and led the Series A at a $40M valuation. They went public in 2019, reaching a market cap north of $20B and the rest is history. bvp.com/memos/pinterest
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Replying to @tobi
@tobi I’ll know you’re serious about this if the next @shopify board meeting is hosted in Shopify Party
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It's a clever way to fight back.
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FDIC feels stuck with a Cornelian dilemma. Surely doesn't want to 'save' businesses/customers who had their cash at SVB. But if it lets them suffer losses, every regional bank in America will experience a run on the bank the instant it is announced that SVB depositors lost money
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Dear @Google, looks like you are being manipulated by Russia. A deeply reported story about Christopher Steele came out earlier today in the @NewYorker (see newyorker.com/magazine/2018/…), and this is what my results look like when I enter "Steele" into your search engine.
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From an investor's perspective, I think @Shopify is the ultimate donut company, and now @nejatian makes it even more so by sending a dozen treats to @bessemervp's NYC office. Thanks, @nejatian, for what is certainly the best reward I've ever received for doing a podcast!
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Dear @NFLPlayers: go for the checkmate move. If at least half of you kneel in protest at next season’s opening games, the league simply has to back off.
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It's two for Tuesday: @BessemerVP portfolio companies @otonomo_ ($OTMO) and @SpireGlobal ($SPIR) both debuted as public companies today.
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Thank you @FEhrsam @Coinbase for the Bitcoin education in Feb. I bought some (not enough) at ~$30 and just sold them at ~$700. #EasierThanVC
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E-commerce startup problem: "When we give discounts, there are no unit economics. We we don't give discounts, there are no units."
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This reads like an insane conspiracy theory, but if true, then it's perhaps the biggest sham of the last 1,000 years. nitter.app/mikebutcher/status/826…
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Had a blast talking (way too fast) to @HarryStebbings for his "20 Minute VC" podcast. bit.ly/20vcitunes. Thanks Harry!
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Odds that @tedcruz would ever agree-tweet @AOC were 10,000:1 yesterday. That bet paid off handsomely today, and all the bettor had to do was convince some Reddit users to buy an-almost penny stock for 50x what it's worth and then get an online brokerage to ban buying said stock.
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“... where they are dancing in a room where the clocks have no hands.” — wow, do I love this line!
“The line separating investment and speculation, which is never bright and clear, becomes blurred still further when most market participants have recently enjoyed triumphs. Nothing sedates rationality like large doses of effortless money.”
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Today Procore enters a new phase of our journey as a publicly-traded company (@NYSE: PCOR). This major milestone has been made possible by our employees, investors, customers, and partners – thank you for getting us here! proco.re/3oD2zJd #ProcoreIPO
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Google has fully embraced its inner Yahoo.
Google monopolist not satisfied with above the fold they've now claimed "page 2" cc @kaufer #byeorganic
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My radio voice leaves much to be desired, but thankfully we have some great guests lined up, and they'll do most of the talking.
Hosted by @jeremyl and @TaliaGold, This Is Series A is our latest podcast about the builders that shape tech and internet culture, and the lessons that come with early-stage entrepreneurship. Subscribe and be the very first to know when we launch the show! bit.ly/subscribe-to-atlas
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Congrats to our new @bessemervp partners @andrewhedin @tesshatch @MikeDroesch @mcadonofrio! I'm excited to see you make your mark on our firm and the venture ecosystem.
Replying to @BessemerVP
We’re incredibly excited to share the promotion of Andrew Hedin, Tess Hatch, Mike Droesch, and Mary D’Onofrio to partner - each of whom has made countless contributions to the firm and brings deep expertise and support to our entrepreneurs.
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Replying to @sarahtavel
Great post, but I'd argue hype *never* helps except in recruiting talent. If your user acquisition and retention loops are working, you don't need hype. The key cost of hype is clear: more competitive attention, and competition is, by far, the most destructive force in business.
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Fantastic discipline @Chewy. Shun attention. Execute. Sell for $3.35 billion. Congrats @BessemerVP alum @larryvc recode.net/2017/4/18/1533920…
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Thoughts on the evolution of Internet marketplaces from listings sites to transactional, end-to-end experiences: forbes.com/sites/valleyvoice…
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Last year it was @adamdell and @claritymoney. Now it’s @DuranMoney and United Capital for its biggest deal in 20 years. @GoldmanSachs has excellent taste in M&A. google.com/amp/s/amp.cnn.com…
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Indeed, what a year!
2021 was far from normal—it was a year where we all witnessed radical changes in the way we connect, shop, foster our health, and even venture into space. We’re inspired to be part of our founders’ stories and we look forward to what’s ahead. bit.ly/3p16ce0
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And we know what it looks like when a country has only 4 big banks that are completely dominant: Canada!
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Replying to @Austen
Except most of them raise on notes, not priced equity, so they won’t know what they really own until they price a round. This ignores that notes typically come with full-ratchet anti-dilution protection and a discount. Thinking the conversion cap is your valuation is ignorant.
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The other four are super successful in their own right -- three as founders or entrepreneurs and one as an investor.
Wow, @bessemervp’s 2007 junior investment team was INSANE 😳. 8/12 now Partners across SV: @pbotteri, @Accel @jamescham, @BloombergBeta @chriswfarmer, @SignalFire @alexferrara, @BessemerVP Mitch Green+Brian Neider, @LeadEdgeCapital @sarahtavel, @benchmark @hanstung, @GGVCapital
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Congrats to Dollar Shave Club: fortune.com/2016/07/19/unile…. I doubt there will ever be a funnier unicorn. I smile just thinking about those ads.
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Thousands of people singing "This Land Is Your Land" at the rally in NYC tonight was powerful to witness.
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Here's Forbes with some well-deserved recognition for my @BessemerVP colleagues @TaliaGold and @annarchyy -- bit.ly/2zJzIta
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That was a first. My @united flight’s takeoff was delayed because a passenger dropped a cell phone in the toilet (accidentally, I presume). The pilot told us we could not fly with it there “for obvious reasons,” so it had to be retrieved before we departed.
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Most companies can’t resist the temptation to seek attention when they’re still tiny. @cambly is among the disciplined few who wait until they’ve built something really impressive before sharing publicly. forbes.com/sites/kenrickcai/…
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This is why it's hard to spend less than 30 minutes merely getting a cup of coffee in the office @bessemervp. Inevitably you end up bumping into a colleague who prefers tea, and a lengthy debate ensues.
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Replying to @thesamparr
If you can muster the courage to buy a Toyota Sienna minivan for a family of 4 or 5 with young-ish kids, I know from experience that you will be pleased with the decision for years to come. Lame is buying a “cooler” car that gets the job done less well.
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My @bessemervp partner @TaliaGold is just getting started. I can't wait to see what's to come. forbes.com/sites/alexkonrad/…
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.@TaliaGold and I had a fun chat with "international man of mystery" Adam Dell who, more than a month ago, correctly predicted the next President... ...would be a 70+ year-old man.
“I had the credibility of an entrepreneur and a venture investor, but it still wasn’t enough,” says @AdamDell on This Is Series A. “People need to see [your product], and hold your idea in a tangible way—even if it’s rough around the edges." Tune in 🎧 bvp.com/atlas/this-is-series…
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There is so much success among @BessemerVP analyst alumni that we need a full-time person just to keep this web page up to date. bvp.com/analyst-program
Couldn’t be more thrilled for my friend and ex-@BessemerVP colleague Jay Po who announced Fund II at @Stage2Capital. Jay’s a unique blend of insane / gritty / brilliant and managed to stitch together a unique fund backed exclusively by 250+ GTM leaders in the tech ecosystem.
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We're excited to hear founders @8en, @tobi and @jeffiel talk about how their then-tiny startups (@pinterest, @shopify and @twilio) survived the last global crisis on Tuesday Apr 7 @ noon Pacific. Sign up here to join us: bvp.zoom.us/webinar/register…
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VC legend @moritzKBE doesn't mince words while calling a spade "a spade" for the President and an LBO giant. nytimes.com/2017/02/07/opini…
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I hope immigrant entrepreneurs are still saying "I'm very grateful to America" for many decades/centuries to come...
"I do not think I could have built what I built in any other country in the world," shares @ankurnagpal. On the show, the founder of @teachable shares the lessons he's learned building a platform that helps the creator economy and entrepreneurs thrive. bvp.com/atlas/this-is-series…
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@MikeIsaac There was no quick profit for the mutual fund and hedge fund buyers in the IPO, and Uber raised more cash than it *should* have for its 180 million shares. I call that a win for Uber in a game where Wall Street typically comes out on top. /21-end
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Vishal opened up @BessemerVP's "The Great Indian Bazaar" event in Bangalore today w/ tons of great founder insight sharing.
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Startup founder to Partner at Goldman Sachs is not exactly a well-trodden path. The @BessemerVP portfolio will miss you @adamdell and @claritymoney. ft.com/content/f8a83714-40f2…
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Actually, @levie, I think this was more likely @tobi’s doing.
You did it Reddit, wow.
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The @twentyminutevc is at it again with another @BessemerVP partner. @ethankurz is 300th to occupy 20VC's hot seat bit.ly/20vcitunes
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A great @NewYorker piece detailing one reason why now is as good a time as any in history for consumer startups. nyr.kr/1cRgLF6
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Dear @google @YouTube, here’s yet another thing you’d fix if you had a conscience: nyti.ms/2GeTMa6
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I oppose the immigration ban. It's dangerous. It's un-American. It's bad policy. The NY tech community agrees. technyc.org/trumpeo/
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Replying to @rabois
Their pass was my opportunity!
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We're looking for someone exceptional to join us @BessemerVP in Menlo Park/San Francisco. bvp.com/blog/bessemer-hiring…
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Excited to see founder @TaraViswanathan change the future of medicine with @Rupa_Health.
Proud to announce @BessemerVP's investment in @Rupa_Health, the platform powering the personalized medicine revolution! bvp.com/news/rupa-health-ser…
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"Oh, we definitely did more to influence the election than Russia did," says the FBI. washingtonpost.com/world/nat…
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Shohei Ohtani should be a household name. As a pitcher, he leads Major League Baseball in fewest hits per game, and as a batter he’s atop the A.L. leader board in home runs, OBP and slugging percentage (among others). Move over Babe Ruth: washingtonpost.com/opinions/…
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Amazing internet video gathering curated by my @BessemerVP colleagues.
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Nice job, @adityanidmarti, spelling energized with an s. You'll fit in well in @BessemerVP's London office.
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People say March Madness begins on Thursday, but all of last weekend felt like March Madness to me.
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Facebook's big purchase of Oculus hearkens back to the 99/00 bubble because, perhaps, it's literally a case of a company buying eyeballs.
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Replying to @shaunmmaguire
Also, the ridicule that results from some of @AdamRFisher's tweets comes about because they highlight facts or expose misinformation. It's admirable to fight an information war with truths and facts, particularly when others leverage lies, inventions and misleading claims.
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Here's another free online course delivered to your inbox. This one is on "How to Lead" because while starting a business is hard, making it successful is even harder. Sign up here: bessemervp.team/3un3jK1
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I think it's guts and courage rather than delusions and overconfidence that make entrepreneurs, well, entrepreneurs. newyorker.com/talk/financial…
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In a world of cloud apps for everything, it's exciting to see a way to tie apps together with deep, two-way integrations. Congrats to the @Unito team on the launch of its new Workflow edition: unito.io/shape-the-flow-of-w…
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Congrats @mindbodyonline on your successful @NASDAQ ipo today!
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This video is simply fantastic. I just wish it were longer than 3 minutes and 58 seconds. thisamericanlife.org/radio-a…
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Replying to @TaliaGold
Thank you too. Great partners make each other better, and I consider you one of the best!
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Replying to @alexferrara
Indeed. It’s a storied franchise with loads of talented bankers who collectively have a stronger understanding of and deeper connections to the tech ecosystem than any other financial institution.
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I guess I've got three days to practice dropping F-bombs if I'm going to entertain and fit in. @sarahcuda pando.com/2014/09/15/tickets…
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Despite @Carmeldea calling my investments "unsexy" and "dull" in print, I feel very flattered. gigaom.com/2014/11/11/pinter…
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