Bussgang kicks off the book with a look inside entrepreneurs’ minds. Supplementing his own entrepreneur-turned-VC story with other entrepreneurs’ profiles, Bussgang explains how entrepreneurs operate. He emphasize that they’re driven by passion and an urge to change their industries (or the world), rather than by money alone.
In Chapter 2, Bussgang gets you acquainted with the “notorious Blackberry addicts” who, “because of their hyperactive minds and love for rapid, varied stimulation, have the attention span of someone suffering from attention deficit disorder.” That is, the VC crowd. Bussgang shares how these geeky, charged souls operate in companies, what drives their success, where they’re concentrated, and what kinds of companies they tend to fund.
In the next two chapters, Bussgang shows you how to choose the right VC, pitch that VC (while avoiding common pitching mistakes), and negotiate the right kind of deal.
Chapter 5, one of the more amusing parts of the book, informs you of archetypical boardroom directors. Hint: They’re right in line with original American Idol judges Simon, Paula and Randy. Bussgang then goes into three classic business startup plot lines, and how they tend to play out. These plots involve either a charismatic CEO falling from grace, the CEO and founder losing trust in each other, or a VC mutinee/takeover of the company. Appropriately, Bussgang then shares tips on surviving in your company when you’re in over your head.
Chapters 6 covers routes to cashing out. These include selling your company, engaging in a rare, coveted IPO, and the even more exquisite scenario of doing an IPO, then selling your company.
Next, Bussgang sums up VC industries in various countries outside of the United States, then concludes the book with a look at the state of venture capital today. Like many people who work in or with startups, he emphasizes that today is an excellent time to be an entrepreneur.
Thoughts
“I wrote the book to demystify the VC world for entrepreneurs, having seen both sides as an insider, and to help entrepreneurs level the playing field when pursuing venture capital so they can secure the resources necessary to achieve their vision,” Bussgang writes in the beginning. His honest, practical, easy to read book lines up well with his intentions. He offers insider tips that might otherwise be hard to access, unless you follow one of the VC blogs listed at the back of the book (or Bussgang’s own blog, seeingbothsides.com).
As someone unfamiliar with the industry, I found Bussgang’s book to be an excellent oversight of how VC works. If I were to go and actually pursue a venture capitalist, I’d want more details, like a database of VC companies or a step-by-step plan on what exactly I need to put together in my pitch. But Mastering the VC Game was a most approachable starting point.
I recommend this book to anyone new to the workings of VC. If you’re just beginning your first startup, this book is an essential launching point to get you closer to your funding objective.
Friday, September 10, 2010
Thursday, September 9, 2010
Tony Blair Cancels Book Signing Over Protests
LONDON — Tony Blair on Monday canceled a planned public appearance in London to promote his new memoir over concerns about potential disruption from protesters.
The former British prime minister said he didn't "want the public to be inconvenienced by the inevitable hassle caused by protesters," during his appearance on Wednesday at Waterstone's bookstore in central London.
"I know the Metropolitan Police would, as ever, have done a superb job in managing any disruption, but I do not wish to impose an extra strain on police resources, simply for a book signing," Blair said in a statement.
Earlier, Blair told ITV television that a bookstore signing session could cause unnecessary "hassle and cost" for police. Protesters demonstrating against Blair's decision to join the 2003 U.S.-led invasion of Iraq hurled shoes and eggs at him in Dublin on Saturday.
Anti-war demonstrators had planned to rally outside Blair's signing, and he said he was also worried that the far right British National Party might attempt to cause trouble.
"You end up just causing a lot of hassle for people and cost when there are better things for the police to do and it's not as if we need to do it," said Blair, who added that the book was "selling fantastically."
"It is sad at the same time, frankly. If people want to have a book signed, people should protest but not try and physically prevent you doing it."
Waterstone's managing director Dominic Myers said the cancellation of the signing "is a matter of regret that because of the likely actions of a minority, our customers are now not able to meet a three-times elected prime minister of the United Kingdom, whose book has become our fastest-selling autobiography ever."
Blair was paid a 4-million-pound ($7-million) advance for the memoir "A Journey," which mounts a strong defense of his policies during his years as prime minister from 1997 to 2007.
The former British prime minister said he didn't "want the public to be inconvenienced by the inevitable hassle caused by protesters," during his appearance on Wednesday at Waterstone's bookstore in central London.
"I know the Metropolitan Police would, as ever, have done a superb job in managing any disruption, but I do not wish to impose an extra strain on police resources, simply for a book signing," Blair said in a statement.
Earlier, Blair told ITV television that a bookstore signing session could cause unnecessary "hassle and cost" for police. Protesters demonstrating against Blair's decision to join the 2003 U.S.-led invasion of Iraq hurled shoes and eggs at him in Dublin on Saturday.
Anti-war demonstrators had planned to rally outside Blair's signing, and he said he was also worried that the far right British National Party might attempt to cause trouble.
"You end up just causing a lot of hassle for people and cost when there are better things for the police to do and it's not as if we need to do it," said Blair, who added that the book was "selling fantastically."
"It is sad at the same time, frankly. If people want to have a book signed, people should protest but not try and physically prevent you doing it."
Waterstone's managing director Dominic Myers said the cancellation of the signing "is a matter of regret that because of the likely actions of a minority, our customers are now not able to meet a three-times elected prime minister of the United Kingdom, whose book has become our fastest-selling autobiography ever."
Blair was paid a 4-million-pound ($7-million) advance for the memoir "A Journey," which mounts a strong defense of his policies during his years as prime minister from 1997 to 2007.
Friday, September 3, 2010
Dodging Dog Doo
Allston, Mass- I wake up, put clothes on, gather my things, and hop on the bicycle for an enjoyable ride to work.
I’m 24 years old and live roughly a half-hour southwest of downtown Boston. The route I take is along Storrow Drive- a popular jogging/biking route amongst Bostonians that offers pleasant views of the Boston/Cambridge cityscape, green-spaces, and various outdoor recreational activities.
My bike, (a single-speed cruiser I built for enjoyment rather than velocity) was gliding along at a fairly average speed, when I decided to appreciate the surrounding scenery. Normally I try and refrain from rubbernecking, but today I became engaged with the architecture over in Cambridge, causing me to gaze-off for a few seconds. What I didn’t know or see at the time was the fact that I was rapidly approaching a Dog-Borne Mine Field.
All of a sudden, while shifting my head back to the straightforward position, I was able to catch a glimpse of an immediate obstacle, a.k.a dog poop, forcing me to jerk my handlebars to the right so that I wouldn’t run over the monsterous fudge-dragon.
Miss!
I thought I was safe; I was wrong. Many more roadside bombs lay ahead, sending my smooth ride into a frantic zig-zag motion. Although I only had to use my basic-maneuvers for 25 yards, it still seemed as though time stood still.
Two-thirds of the way through the mine-strip, I noticed a tire-track right through the middle of a chocolate hotdog. I thought to myself, “that could have been me!” Arriving to work with an ugly residue on your back will most likely ruin any day.
This brings me to the question, what’s worse: riding through dog poop or stepping in it? I’d like to know the percentage of people that have stepped in dog poop. My guess is 80/90% of people have accidently stepped where they shouldn’t have at least once in their life.
I’m 24 years old and live roughly a half-hour southwest of downtown Boston. The route I take is along Storrow Drive- a popular jogging/biking route amongst Bostonians that offers pleasant views of the Boston/Cambridge cityscape, green-spaces, and various outdoor recreational activities.
My bike, (a single-speed cruiser I built for enjoyment rather than velocity) was gliding along at a fairly average speed, when I decided to appreciate the surrounding scenery. Normally I try and refrain from rubbernecking, but today I became engaged with the architecture over in Cambridge, causing me to gaze-off for a few seconds. What I didn’t know or see at the time was the fact that I was rapidly approaching a Dog-Borne Mine Field.
All of a sudden, while shifting my head back to the straightforward position, I was able to catch a glimpse of an immediate obstacle, a.k.a dog poop, forcing me to jerk my handlebars to the right so that I wouldn’t run over the monsterous fudge-dragon.
Miss!
I thought I was safe; I was wrong. Many more roadside bombs lay ahead, sending my smooth ride into a frantic zig-zag motion. Although I only had to use my basic-maneuvers for 25 yards, it still seemed as though time stood still.
Two-thirds of the way through the mine-strip, I noticed a tire-track right through the middle of a chocolate hotdog. I thought to myself, “that could have been me!” Arriving to work with an ugly residue on your back will most likely ruin any day.
This brings me to the question, what’s worse: riding through dog poop or stepping in it? I’d like to know the percentage of people that have stepped in dog poop. My guess is 80/90% of people have accidently stepped where they shouldn’t have at least once in their life.
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