When did tech become a dirty word?

The world is turning against tech. Silicon Valley is in danger of becoming the new Wall Street – public enemy number one. And it’s easy to see why. Facebook is being used to influence elections and promote hate speech. Google is pressuring think tanks to fire people they don’t like. And meanwhile Uber has grown into one of the most obnoxious companies on the planet. That’s just the news in 2017. To that, you can add enduring concerns over privacy, the dangers of AI, losing our children to their devices, and perhaps most dangerous of all, a growing sense that tech is a leading cause of the growing inequality of wealth. Meanwhile, we are easy to ridicule.

All this has come as a bit of a shock to much of the tech ecosystem. Collectively we’ve been happily beavering away, content that our work is driving innovation, economic growth and job

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Satya Nadella owns his mistakes – impressive

From a recent Fast Company article about Satya:

Invited to participate in a Q&A at the Grace Hopper Celebration of Women in Computing, a major annual event, he told the largely female audience that women in the tech industry should forgo asking for raises and instead trust that the system would reward them appropriately. The negative reaction was swift, with attendees quickly tweeting out their pushback.

Nadella realized his mistake, and the next day issued an apology. “I answered that question completely wrong,” he wrote in an email to Microsoft employees. Today, he describes his onstage comments as “a nonsense answer from this privileged guy.”

But Nadella did more than deliver a mea culpa; he explored his own biases—and pushed his executive team to follow suit. “I became more committed to Satya, not less,” says Microsoft chief people officer Kathleen Hogan, the former COO of worldwide sales, whom

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US and UK entrepreneurs suffer equally from ‘fear of failure’

This chart is from the UK government’s recently published Patient Capital Review.

I’m publishing it here because I often hear it said that the US startup ecosystem has a significant advantage over the UK and Europe because on this side of the Atlantic we are hobbled by a greater fear of failure. This has always annoyed me because a) I didn’t see it in practice, b) a certain amount of fear of failure is rational, and c) people used our supposed fear of failure to talk down the local startup ecosystem.

As you can see from the graph on the far right it turns out that fear of failure is roughly the same in the UK, the US, France and Germany.

It’s so good to finally have data on this topic!

Forward Partners Code of Ethics Regarding Sexual Harassment

Earlier in the year, there were a significant number of victims who came forward to share stories of sexual harassment by investors. Some of those investors were prominent VCs.

At Forward Partners we were really saddened by the reports – clearly, any abuse of an asymmetrical power relationship for sexual gain is wrong. Doctors have been held to a high standard in this regard for as long as I can remember and investors should be no different.

So a couple of weeks ago we adopted a new Code of Ethics for Sexual Harassment, with a link at the bottom of our homepage and a new question in our FAQ. The code identifies four different levels of sexual harassment and is based on a template that TechCrunch published in July.
We don’t want to make a big deal of this announcement, but it is important that people know our code of ethics
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Board meetings: Avoiding triviality

Getting value out of board meetings is tough. Lots of VCs have written posts with great tips – this recent one by Mark Suster is a very high quality example.

There are lots of reasons why value can be hard to extract – mostly to do with the fact that often board members don’t pay enough attention and CEOs don’t prepare as well as they could. However, today I’m going to write about a lesser known reason: the law of triviality.

From Nir Eyal’s What to do when someone steals your idea:

The British author C. Northcote Parkinson is famed for his “law of triviality,” first elucidated in a satirical article published in 1957. Parkinson writes of a committee assembled to approve plans for a nuclear power plant that instead spends most of its time arguing about a bike shed. The fictional committee wastes so much time on the

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Board meetings: Avoiding triviality

Getting value out of board meetings is tough. Lots of VCs have written posts with great tips – this recent one by Mark Suster is a very high quality example.

There are lots of reasons why value can be hard to extract – mostly to do with the fact that often board members don’t pay enough attention and CEOs don’t prepare as well as they could. However, today I’m going to write about a lesser known reason: the law of triviality.

From Nir Eyal’s What to do when someone steals your idea:

The British author C. Northcote Parkinson is famed for his “law of triviality,” first elucidated in a satirical article published in 1957. Parkinson writes of a committee assembled to approve plans for a nuclear power plant that instead spends most of its time arguing about a bike shed. The fictional committee wastes so much time on the

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Evolving our investment strategy

This is a long post (1,900 words). For those of you who are time poor here’s the tltr:

  • Forward Partners operates a focused investment strategy because it helps us make better investment decisions and provide better support to our companies
  • A good focus area for us is one that can generate 50+ deals and where we can build some generalised expertise that helps with our decision making and value add
  • Until now we have focused on marketplaces and next generation ecommerce
  • Recently we evaluated lots of options and did a deep dive on Applied AI before selecting it as our next area of focus

For the three and a half years that we’ve been going, Forward Partners has operated a focused investment strategy. We observed that small transactions of all types are increasingly moving online and backed the companies that were helping to accelerate that trend. That meant lots of

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🙂
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