• A second wind for second chances

    June 27, 2014

    Four years ago in a piece entitled The End of Second Chances, I openly dwelled on how the web meant the end of forgetting (a gripe which seems commonplace now, but remember this was before SnapChat was even conceived). At the time, this struck me as an appealing investment theme, though I couldn’t find any […]

  • Aspiring SaaS converts can learn a lot from Adobe

    June 24, 2014

    Selling software on a cloud-based subscription model has become so commonplace these days that new software startups must have a pretty compelling reason if they intend to pursue the traditional approach of perpetual license sales. The cloud model is recurring in nature and thus provides a more predictable revenue stream. In the traditional perpetual license […]

  • Scalability hack: think concavity instead of convexity

    June 17, 2014

    Scalability may well represent one of the most overused words in startup financing discussions. VCs use the word (and I’m guilty of this) as shorthand to refer to a startup’s ability to grow dramatically enough to deliver outsize returns to the investor. I like to simplify it as a joke that there are three kinds […]

  • Triathlon du Lac du Salagou

    June 13, 2014

    The Lac du Salagou in southeast France hosted consecutive triathlons throughout last weekend, both road and Xterra. This was the inaugural year the Montpellier Triathlon Club organized races at this location, and hopefully it’s the first of many. I opted for the intermediate distance tri on Saturday. The triathlon takes place in a gorgeous setting: […]

  • The VC world in France needs more transparency. I’ll start.

    June 10, 2014

    Having waxed extensively about the opacity of France’s venture capital industry, I’ve decided it’s time that I practice what I preach. The venture capital sector in France operates in a fog of complexity, with limited accountability, misleading performance statistics, and in some cases deliberate secrecy. I believe this is wrong. I believe that a VC […]

  • Heroes wanted: VC internship opening

    June 6, 2014

    Since I started hiring interns at Truffle Capital three years ago, I count my lucky stars for the top-calibre individuals who have filled this role. The following individuals are heroes in my book, and I’d like to take a moment to publicly thank them: 2012: Robert Kelley 2013: Nilanjan Basu 2014: Jerry Yang All three […]

  • Supporting startups with a wealth tax break

    June 3, 2014

    I’ve been known to jokingly refer to this time of year the “easy money period” for startups in France. The reason for this is that late May and ultimately June 15 represent the filing deadlines for weath tax in France. The French wealth tax, l’impôt de solidarité sur la fortune, or ISF for short, represents […]

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