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M&A is the Transition from Innovation to Growth

Lecture to the MBA class: Growing and Exiting a Venture at the UBC Sauder School of Business on why I believe this is a ‘Golden Era’ for entrepreneurs. Topics include: There has never been a time before when it was so easy for so many entrepreneurs, to create such valuable companies on so little capital, […]

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What often happens

This is an excerpt from a talk I gave at the Element8 angels workshop in Seattle: Investing a World With Few Exits. Some of the key points from my talk: I believe only 25% of all companies that could have been sold actually end up successfully exiting If a company misses the ideal time to […]

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Exit Probabilities

I Thought I Understood Patents When I was CEO of my first technology company I thought I understood how patents worked. But it was only after managing a hedge fund for a few years that I began to appreciate the risks patent holders face. Many entrepreneurs think that the real test of a patent’s value […]

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When I was in grad school I co-founded a company that grew to become the second largest manufacturer of cable television headend equipment in the world. For the ten years after I graduated, I woke up every morning thinking of ways to out-innovate our two major competitors. We were a startup and they were both […]

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What Happened to Venture Capital

This was a lecture to the MBA Entrepreneurial Finance Course at the University of British Columbia Sauder School of Business. Here’s what happened to the Venture Capital industry: Intel, Microsoft and Cisco aren’t making money for their shareholders Or, more importantly, for their employees That’s part of the reason the best and brightest are now […]

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