Glowforge recently launched their 3D laser printers to the public, making their product line available within 10-day delivery. As an early investor (and a huge fan) this was an incredibly gratifying moment, as Glowforge is now shipping – in volume – the product from one of the most popular pre-order campaigns in history.
We’ve been a part of Glowforge’s journey to production since even before their record-setting crowdfunding campaign. But the campaign was the moment we knew that we’d found something special: the elusive product-market fit. People really, really wanted the product. Now that it has made its way into thousands of households, we’re seeing something even better. People really, really love their Glowforge.
Of course, all the numbers in the world can’t convey just how awesome their product is until you see it in action. I’ve used mine to make everything from luggage tags to wallets. It’s an
Continue reading "Glowforge Plus Launches on Amazon Exclusives"
In addition to our own funds, we are investors in a number of other early-stage VC funds as part of our Foundry Group Next strategy. Yesterday, in one of the quarterly updates that we get, I saw the following paragraph.
“Historically, the $10 million valuation mark has been somewhat of a ceiling for seed stage startups. But so far this year, we’ve seen that a number of companies, often times with nothing more than a team and a Powerpoint presentation, have had great success raising capital north of that $10 million level. Furthermore, round sizes continue to tick up, with many seed rounds now in the $2.5 million to $4.0 million range.”
We are seeing this also and have been talking about it internally, so it prompted me to say something about it.
I view this is a significant negative indicator.
It has happened only one other
Continue reading "Early Stage VCs – Be Careful Out There"
I had dinner with Ian Hathaway a few weeks ago when I was in London. It was a delight to see him in person. While we’ve been collaborating on Startup Communities 2 (which we are now calling The Startup Community Way), which will come out at the “end-of-the-year-ish,” having dinner was a delight and reminded me how much I like him.
A few months ago he wrote a post on Waterloo, and activity in Canada in general, titled The North Star. It’s a good post worth reading but reminded me of a concept that we are weaving into The Startup Community Way.
There is an increasing number of “binary star” startup communities. If you aren’t familiar with binary stars, they are a system of two stars in which one star revolves around the other or both revolve around a common center.
Boulder and Denver is a canonical example of
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We’ve been soaking (and investing) in the world of 3D printing since our investment in MakerBot in 2011. Since then, we’ve made three other investments in the world of 3D printing – Formlabs, Glowforge, and Looking Glass. While Looking Glass is a holographic display and is the inverse of a 3D printer, you’ll see how it fits into this in a moment.
While I continue to be impressed by Desktop Metal, the incredible press that they get, and am a big fan of the writing of Jason Pontin, I think Jason’s story in Wired – 3-D Printing Is The Future of Factories (For Real This Time) – misses several key points that take the idea that 3D printing is the future in a different direction.
I’ve decided that 3D printing is the REPL for Hardware. Dan Shapiro, the CEO of Glowforge, coined this and he’s completely
Continue reading "The REPL For Hardware"
Google Boulder recently did a phenomenal thing. They recently gave a gift of over $2 million to CU Boulder, which included free office space for NCWIT for the next six years (valued at $1.3 million.) As of a few weeks ago, NCWIT now has a great long-term home in an older Google office on 26th Street in Boulder off of the CU Campus.
The head of Google Boulder (I think his official title in Googlespeak is “Engineering Site Director”) is Scott Green. I’ve known Scott since shortly after I moved to Boulder in 1995. He was an early employee at Email Publishing (which became MessageMedia), my very first Boulder-based angel investment. After MessageMedia, he spent some time working at Return Path (where I’ve been an investors since 2000) early in its life before moving to @Last (which we were not investors in, but were fans of since
Continue reading "Google Boulder’s Gift to NCWIT"
A few weeks ago I read Jaron Lanier’s Ten Arguments for Deleting Your Social Media Accounts Right Now. It helped consolidate some thinking on my part and I sent a few copies out to friends who I knew would have thoughtful and interesting responses. One that came back is very worth reading as it has a healthy critique as well as some personal reflections. The note from my friend after reading Lanier’s book follows.
He makes a reasonable case (obviously with a lot of room to dispute individual points) that social media is “bad” in general and a source of concern. Some of it is old hat but the way he puts it together is certainly helpful. It seems like it would be good if a lot of people read it.
I had two major concerns with it structurally. First, he positions the book as making arguments as to why *the
Continue reading "More Thoughts on Lanier’s Ten Arguments for Deleting Your Social Media Accounts Right Now"
Over the past 25 years, I’ve invested in many startups that sell products to large enterprises. Many of these companies end up either creating or helping to create a new category. As the startups (or the category) become visible, they inevitably attract the attention of industry analysts, who write reports on the categories and the startups as part of the industry analysts’ business.
Engaging with analysts can result in significant investments of time, effort, and capital on the part of the startup. The choice is a complicated one since startups are often challenging the status quo and industry analysts, while well-intentioned, don’t necessarily have a full grasp of the underlying industry changes taking place until well past the point that changes – and resulting trends – become obvious.
One of our portfolio companies recently engaged with an industry analyst for the first time with a very disappointing outcome. In this
Continue reading "The Industry Analyst Evaluation Game"
Recently, I was talking to a CEO of a company I’m on the board of. We were discussing a problem in the category of something new Is fucked up in my world every day
He gave me a great idea. He apparently plays a game with his young (I think around 10 years old) daughter. When they are sitting around in the evening, she occasionally says “Daddy, give me a CEO problem.” He does, she thinks about it a little, and then gives him a solution. He suggested to me that this often helps break him out of whatever thought rut he is in given how wacky and creative the answers typically are.
Unfortunately, I don’t have a daughter (or a son). While I have two golden retrievers and I’m a practitioner of rubber duck debugging, I don’t think this works as well as what my friend is
Continue reading "CEO Problems"
Yesterday’s post Relentlessly Turning Input Knobs To 0 generated a bunch of interesting private comments. It also generated a few public ones, including the link to the article What is the problem with social media? by Jordan Greenhall which was extraordinary.
Jordan asserts that the problem with social media can be broken down into four foundation problems.
- Supernormal stimuli;
- Replacing strong link community relationships with weak link affinity relationships;
- Training people on complicated rather than complex environments; and
- The asymmetry of Human / AI relationships
He then has an essay on each one. The concept of supernormal stimuli is straightforward and well understood already, yet Jordan has a nice set of analogies to explain it. Tristan Harris and his team at the Center for Humane Technology have gone deep on this one – both problems and solutions.
I found the second essay – replacing strong link community relationships with
Continue reading "A Major Breakdown In Our Collective Intelligence"
I’ve got a lot on my plate. I always do. Presumably, I like it this way because I’d change things if I didn’t. And yes, that’s continuous fodder for conversations with my therapist and with Amy.
I have always tried to ignore the macro, especially short-term dynamics, in the context of my work. I collect a lot of data and like to be well informed. I get this data from lots of different inputs. I regularly play around with the volume on the inputs as well as try different inputs.
One of my key inputs is reading books. I read 50 to 100 books a year (the number seems to be steadily increasing as I get older.) It’s a great joy of mine to sit and read, especially stuff friends recommend to me. I read across all categories and am game to try anything. And I’m willing to quit
Continue reading "Relentlessly Turning Input Knobs To 0"
My friend Katherine pointed me to the Number Gossip site. If you like numbers, you’ll quickly lose the next hour playing around. Since 49% of the US is taking today off, it seemed like a relevant thing to spend some time on.
For example, did you know that 67 is the only number such that the common alphabetical value of its Roman representation is equal to its reversal (LXVII – 12+24+22+9+9=76)?
Or, did you know that 111 is the smallest palindromic number such that the sum of its digits is one of its prime factors? It’s also the age at which Bilbo Baggins leaves the Shire.
I had forgotten that evil numbers are a number that has an even number of 1’s in its binary expansion. But, I didn’t know what an odious number is (it has an odd number of 1’s in its binary expansion.) Apparently, being evil is
Continue reading "Fun With Numbers"
As I’m already getting lots of out of office messages for people taking this week off, I thought I’d revisit an approach to how to deal with email after a vacation.
In 2011, Josh Kopelman of First Round Capital came up with what, at the time, was what I thought was the best email vacation auto-responder in the history of email. Now, I have no idea if Josh invented this, but I’m going to give him credit for it.
I evolved this in 2014 when I took a one-month sabbatical. If you ever send me an email when I’m on my quarterly one week off the grid vacation, you now get this.
I’m checking out for a vacation until [date]. I’ll be completely off the grid.
When I return, I’m going to archive my inbox so I’ll never see this email. If you’d like me to read it, please resend
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Aaron Edelheit recently came out with a great book titled The Hard Break: The Case for a 24/6 Lifestyle.
He interviewed me as he was writing it so I show up a few times, along with a few friends that I sent his way. The subtitle is a good hint – instead of a 24/7 life (where you are always on, especially in a work context), Aaron suggests 24/6, where there is a full 24 hour “hard break” each week.
Long-time readers and friends will know that I generally take a digital sabbath for 24 hours starting Friday night and ending Saturday night (and often Sunday morning.) I’m off my phone, email, text, vox, and other digital channels. I read hard copy books or on my Kindle, but try to stay completely off the web. I’m not religious, nor am I religious about doing this, but I’m pretty consistent.
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Mona List Overdrive has come true. And Pattern Recognition is on the horizon.
I knew that Dominos was paving America’s roads, but I didn’t realize they were branding them.
Farhad Manjoo has a good article in the NYT titled How Tech Companies Conquered America’s Cities. A key trope in sci-fi is that corporations will take over, well, everything. And, now that corporations are considered people (at least partially), why shouldn’t they take over?
Would it be weird if I sold sponsorship rights to my first name? “Dominos Feld” anyone? Or maybe “Amazon Feld.”
As usual, Neal Stephenson and Wiliam Gibson were (and continue to be) prescient about our future. I’m considering taking all the labels off of everything I own. And, if you are interested in sponsoring my first name, I’m open to offers and suggestions.
The post Dystopian Technocapitalist Hellscape appeared first on Feld Thoughts.
Mahendra Ramsinghani, my friend and co-author of Startup Boards: Getting the Most Out of Your Board of Directors, is starting work on his third book to be titled Depression – A Founder’s Companion. If this is an important topic to you, please spend 10 minutes on the survey Mahendra is doing.
After the recent passing of Kate Spade and Anthony Bourdain, the conversation around depression and suicide has escalated in a generally constructive way. More people are talking openly about depression, especially among highly creative and successful people. While the stigma around depression and other mental health issues in our society is still extremely significant, the leadership from an increasing number of visible people around their struggles is starting to make a dent in the stigma.
Mahendra’s goal is to publish a book that tells stories, anecdotes, triggers, advice, poetry, and support of all kinds from people who have struggled with
Continue reading "Book and Survey: Depression – A Founder’s Companion"
If you are a regular reader of this blog, you know that I adore Eliot Peper. We met randomly (he sent me an email), which turned into a long-distance relationship, culminating in FG Press (our now defunct publishing company) publishing Eliot’s first book titled Uncommon Stock (and being the first book that FG Press published).
Eliot went on to publish several other books with FG Press. When FG Press failed, we revered the rights back to him (and all of the other authors) for their books, which Eliot went on to self-publish. He followed it with a number of other books, including Cumulus and Neon Fever Dream. He also wrote a clever short story about discrimination which was inspired by David Cohen.
Eliot recently signed a deal with 47North (one of Amazon’s imprints). His first book under that imprint, Bandwidth, just came out. I read an early pre-release version
Continue reading "NY Times Book Review of Eliot Peper’s Bandwidth"
I’ve been consistently public, for almost a decade, about my belief that we should significantly change our approach to immigration in the US, especially for entrepreneurs. As one of the original advocates of the Startup Visa, I continue to be bummed out that our government can’t seem to figure out why this is important or doing anything productive around it.
But, I’ve been appalled the past few days, as Amy and I spend time in Germany, to watch the Trump immigration enforcement that separates children from their parents and detain the children in separate locations. While we had a joyful anniversary yesterday, I felt a bitter emotional undercurrent that upset me.
I’m lucky that I was born an American citizen. Over the years, I’ve invested in many immigrant entrepreneurs. Amy and I have supported a number of organizations that help immigrants and refugees. But when I saw Ayah
Continue reading "I’m Honored That I Get To Work With Ayah Bdeir At littleBits"
Amy Batchelor and I have been married for 25 years today. Here’s what we looked like a long time ago on a vacation together in Cabo.
R.E.M. and Dilbert together kind of says it all.
Here’s another picture of us in our apartment at 15 Sleeper Street in Boston on Amy’s 25th birthday. Amy remembers that I took her out that night to Biba for dinner.
That keyboard is the one that almost burned down an entire fraternity building on 351 Mass Ave one night. But that’s another story. I loved Amy’s permed hair – maybe that look will come back in fashion some day.
Amy and I are in Dresden on our way to Berlin with my parents right now. They just celebrated their 55th anniversary, which is a remarkable achievement. I hope to have at least another 30 years with Amy.
Happy anniversary my beloved.
Continue reading "Happy 25th Anniversary Amy"
Did you know that 28.5714% of the partners at Foundry Group are Texans?
Recently, I was asked if I consider myself a Texan. I answered that I grew up in Texas, live in Colorado, was born in Arkansas, and went to school in Massachusetts. While I have a house in Alaska, I never lived there (that’s where Amy grew up.)
I hadn’t really thought about this before I answered the question. While Massachusetts was very good to me, I never felt at home living in Boston or Cambridge. I left Dallas 35 years ago (although my parents still live there.) I only lived in Blytheville for a year, although I just visited it with my dad a few months ago.
I’ve now lived in Colorado longer than anywhere else (22.5 years). But, I’m occasionally told by people who have lived in Boulder for over 25 years
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I love today’s post from Fred Wilson titled The Valuation Obsession. It has some good hints in it about valuation vs. ownership dynamics for founders, employees, and investors. It also calls out the silliness about focusing on the wrong things.
Go read it.
I’m even a bigger fan of a statement Fred makes in the post that William Mougayar calls out in the comments.
“I like to invest in companies that smart people are joining. Capital should follow talent, not talent following capital.“
This is not just a statement on capital. It’s another hint to the importance – to a founder – of building an awesome team at every level of the journey. It matters at the beginning, as things ramp, and as a public company.
Capital should follow talent. That’s a line I know I’ll be using. I’ll try to remember to say “Fred Wilson says capital should
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