'venture capital' Category
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Shortening feedback loops
November 6, 2022One of the mindsets which we regularly encourage our portfolio companies to espouse is the pursuit of shortening feedback loops. Shortening feedback loops, or “increasing clock speed,” is fundamental to a startup’s ability to navigate a dynamic market. Accelerating the opportunity for feedback underpins the minimum viable product concept in the Lean Startup philosophy. The […]
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相対評価の誤り
October 15, 2022スタートアップの資金調達にはあるパターンがあり、それは通常、人々がまだ勉強中のアーリーステージのスタートアップのエコシステムやマクロ経済の大きな調整が生じた直後に発生する。この2つの条件は、現在の日本にも存在しており、スタートアップの評価に関するいくつかの馴染みのあるテーマが戻ってきたとしても、私は驚きではない。
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Today I learned something about respect
September 9, 2022Maximum respect to Konishiki. Let me say that again. Maximum respect to Konishiki. Today my universes of sumo and venture capital collided. I was blessed with the opportunity to meet one of my childhood heroes. Innovator, ground-breaker, ceiling-shatterer, former sumo ōzeki, Konishiki introduced his new master course on Narō. Todd and Mariko at Narō graciously […]
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The fallacy of relative valuations
September 4, 2022There’s a pattern that tends to play out in startup fundraising, and it usually occurs in early-stage startup ecosystems, where people are still learning, or immediately following a major macroeconomic correction. Both conditions are present in Japan today, so I’m not surprised to see some familiar themes return concerning startup valuations. The story typically plays […]
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Rude VC Summer reading list 2022
August 1, 2022As is customary this time of year, here are the Rude VC summer reading recommendations. For reading lists from prior years, see 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, (as well as the special pandemic edition of 2020). So please stay healthy, go outside, touch grass, and enjoy a relaxing summer !
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(Absent) Inflation in Japan
July 24, 2022I’ve been writing over the past couple months about what effect the global macroeconomic backdrop turmoil might have on Japan’s VC and private equity sectors in Japan. Interest rates — and by extension the cost of capital — remain low in Japan. Given that Japan is one of the few major developed economies that is […]
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日本におけるプライベートエクイティは最悪の事態?
July 18, 2022先月、私は VC（ベンチャーキャピタル）業界の人間でありPE（プライベートエクイティ）業界の人間ではないので、プライベートエクイティについて論評する場合、読者は私の言葉を冷静に受け止めてくれるはずである。私は、日本の現場で、ある現象を観察しており、それを共有することが重要だと考えている。
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“That’s where the strength comes from…”
July 11, 2022This trailer video gives me goose bumps in anticipation…
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Private equity in Japan: a perfect storm ?
July 4, 2022I’m a VC guy not a PE guy, so when I start opining about private equity, readers should grant my words a tepid reception. Yet I am observing a phenomenon here on the ground in Japan that I thought might be relevant to share. Let’s start with recapping the current macroeconomic backdrop, a context upon […]
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How startups can prepare for market turbulence
May 17, 2022Dear startup founders in Japan, Many of you are keeping your heads down, focused on building transformative projects. Good for you, and good for not being too distracted by the macroeconomic environment. However, it is important to be remotely aware of what’s happening in the global markets right now, as this will likely trickle down […]
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スタートアップはどのように市場の乱高下に備えるべきか
May 17, 2022日本のスタートアップ創業者の皆様 皆さんの多くは黙々と変革的なプロジェクトを推進することに集中しているであろう。プロジェクトに集中することは良いことであり、マクロ経済の動向に惑わされないことが重要である。 しかしながら、グローバル市場で今何が起こっているのか、少しは意識しておくことも重要である。なぜなら、このことはおそらく皆さんの次の資金調達ラウンドに影響を与えるからである。
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(K)now to cover (Y)our butt (C)heeks
April 16, 2022Last year a financial institution with which I had been a long-time customer asked me to re-verify my identity by providing two forms of ID. I uploaded a copy of my passport and my driver’s license. After “several business days” of processing, my passport was accepted. As for my driver’s license, on the other hand, […]