Keith Grinstein dies?!

I was at Open Coffee this morning and someone told me that Keith Grinstein died.   Here's the article confirming the fact . I didn't know Keith well -- but he was a real character in the venture capital / angel investing scene in Seattle.   He always seemed like a gregarious, outgoing, good guy -- he was known as a little wild and crazy but I liked that about him.  It's weird when peers start dieing unexpectedly -- he was only 48!  Makes me feel mortal.

Economic fear in the street

I've never experienced anything quite like today.  The stock market crash after Sept. 11 made sense. As a nation, we were under attack and people were scared. So most people sold stocks.  But the events of the last 2 weeks, and in particular today, are in an economic sense much murkier than those that followed Sept 11.   My question, is economic fear worse than physical fear? 
After Sept 11, people feared for the physical safety as much if not more than their economic safety. At the time, people were concerned about whether or not their would be a dirty bomb in NY or whether our ports were safe.  There also was a strong sense that terrorists were aiming to harm the US economically.  At that time, economically the US was resilient.
Today, things are very different.  People are scared. There's no credit. House prices are falling. Banks are failing. Money markets aren't safe. People are buying treasuries just because they are "safe".  People have lost lots of money lately but don't understand why. We're not in physical danger -- but the fear is palpable.  The "bad guy" in this economic situation is unclear and I think not having an icon to blame (other than "greed" or "wall street") makes everyone more scared. 
I'm wondering today -- is true panic around the corner?  And more importantly, will I be able to see it?

Great grassroots idea: Use barack's photo on your facebook page and your blog

Barack2
After I posted my blog last night and sent out a similar message to 2,500 of my closest friends on mybarackobama.com. In response, a friend suggested that we encourage people to start using Barack's image on our profile pages in our social networks and blogs.  I thought this was a great idea and am taking that action. Feel free to use the images below or just choose your own image of Barack to use for your profile. 
What's great is that taking this action is free , can be done from your desk, and markets Barack to the netizens....and on Facebook, you're encouraging young people to get behind Barack even more than they already have!
Check out my new and improved blog profile , my linked in profile, and my facebook profile.  
 

With the economy and country tanking, get your head out of your ass and vote obama!

I agree with Carly Fiorina. John McCain is not suited to run a major corporation (or the country!)
You can check out her comment in an interview on MSNBC (the clip in question starts around the 1:07 mark).

I'm motivated to act and save the country, our economy, and our environment. I invite you to do the same.  This election is TOO important!

Join the barack obama network. My profile page is here.

1) Obama / Biden are FAR, FAR better prepared to deal with the complex
economic, international, and environmental issues than McCain / Palin.

2) Be sure to vote and get your friends and family to vote.  Getting
out the vote is the single most important thing you can do.

3) Be sure to donate money to this election today!

4) And if you're feeling motivated, send an email like this out to all
your friends.

A new technology media property in Seattle with some "old" names

The city's technology beat has largely been owned local journalists at the PI -- more specifically, John Cook and Todd Bishop. For as long as I've lived here, John has done a great job writing about the early stage technology start-up scene and Todd has done a great job while focusing on Microsoft.
Today, I happened to be speaking with John Cook and learned that both he and Todd have left the PI for the greener pastures of the Puget Sound Business Journal. In my opinion, this is a coup for the business journal and disastrous for the PI.  I asked John why he left -- and he wouldn't give me a straight answer. Reading between the lines, I'd have to say that the PI just blew it and wouldn't accommodate some basic financial and editorial freedoms that would retain John and Todd. As someone who's worked with old media newspaper companies, they don't seem able to get out of their own way even when their lunch is being eaten and their foundation is cracking underneath. You can check out John and Todd's new site here....it's supposedly launching in a couple weeks.

Friends that defy my classifications and prejudices

A few years ago I met 2 business acquaintances that were (and still are) evangelical Christians.  They grew up going to evangelical right wing camps while I went to Outward Bound.  Their parents listen to Rush Limbaugh while mine listen to NPR.  They have pictures of George W. hanging in their office.  And while I don't have any pictures in my office -- if I did have a political photograph I'd be more likely to have a Bill Clinton or Obama photo.  They vote Republican and I vote Democrat.
I've gotten to know these guys and had dinner with one of them last night.  I realized that this person not has become a very good friend but he has forced me to redefine my own prejudices about the far right.  They're not ALL irrational speaking in tongues hypocrites :-)  Just kidding!  While I ultimately disagree with the conclusions he reaches, there is a lot that we agree on about the past 8 years.

  • He agrees that the war in Iraq was a mistake and is a mess.
  • He think energy independence should be the main agenda for the country and that George W missed this as the great opportunity of his presidency post Sept. 11
  • He agrees that Republicans have led the country astray economically -- both with the war and with the level of spending the country has undertaken. 
  • He agrees that the Republicans (and Democrats) are hypocritical.  He agrees that personal freedoms need to be protected (though he's pro-life) from government. 
  • He agrees teachers are underpaid. 
  • He agrees that Maker's Mark on the rocks is a great drink.

I appreciate the friendship I have with these two guys -- and the fact that the friendship has challenged my own preconceived notions about the world and the US political climate.

Cuban kitchen (photo 2)


cuban kitchen 2, originally uploaded by a sack of seattle.

This is a second photo of a cuban kitchen. I may have taken the photo....but can't be sure. And yes, it's a picture of a pig that lives in the kitchen. Supposedly, this pig acts as a very effective compost solution. That is, of course, until the pig becomes Christmas dinner.

Cuban kitchen (photo 1)


cuban kitchen 1, originally uploaded by a sack of seattle.

This is a photo of a cuban kitchen. I may have taken the photo....but can't be sure and don't want to make any statements that might land me in trouble in the US.

Shame

The adage of, "if you can't beat them join them" should apply. But I can't bring myself to do it. There's too much at stake.  I think the Republicans have made some very smart moves in the current presidential election.  Most notably, the selection of Palin has to be commended as a smart political move.
However, I'm really in awe of the fact that this is even a close election.  I felt the same way 4 years ago -- when it was painfully obvious to me that we created a war in Iraq after Sept 11 on false pretenses.  That economically we were headed for massive deficits and a general erosion of social well-being.  And yet, I was in the minority. Loads of people voted for George W.  The first time, I can forgive (somehow). But the second time!  And now, in early September, it's looking quite possible that we're headed for a 3-pete.  Fool me once, shame on you. Fool me twice, shame on me. Fool me three times, shame.

Learning to be an investor

I've been an entrepreneur since 1994 -- that's almost 14 years.  I'm surprised at some of the basic lessons that I'm learning as I become self educated as a seed stage investor.  Having started and run 5 companies over the past 15 years gives me lots of insight into the management of the companies that are pitching me on investment. Currently, I'm trying to figure out how exactly to apply my experience -- which is still relatively unique in the investment community -- to investing. 
The question I'm asking myself today is -- would I have invested in Twitter early on.  My answer is -- I think not.  I would have understood the entrepreneurs and gravitated toward them, and I would have understood thee messaging platform, but I would  have likely dinged the business because of its lack of a revenue engine.  This is all mute -- because I never invested nor was I asked to invest but it's all part of evolving my investment perspective.

The power of ezample

Last nights democratic convention was exciting and smart. I thought Bill Clinton redeemed himself for some of his foibles during his wife's campaign. His speech framed up the election and the case obama needs to make to the public. Beau Biden speech was emotionally moving to the point that I teared up at the same time Michelle Obama did (how much was that tear worth?). And Joe Biden was solid and tough if not a little tongue tied at times. Overall, the stage is set for Obama to take back the lead in this election as he marches forward to his presidency. Hope is a wonderfula nd powerful thing!

The 6AM Eureka moment

I got an email from one of my entrepreneurs today.  He had an epiphany at 6am. I was asleep. I read his short email and I have to admit I think that his insight is nothing short of awesome.  I can't reveal what company it is, who the entrepreneur is, or what the insight is at this time because I'm sworn to secrecy. That said, I love it when these insights happen.  In this case, the insight was a direct result of the entrepreneur living the problems of the market himself.  He was experiencing the pain everyday, and ultimately realized this morning that he could wake up and solve that problem for himself and in so doing, solve it for everyone in the market. Eureka moment.

wrong day, wrong floor

I just got back from the conference. Turns out I was a day early. The guard made me feel better by telling me there had been about 6 people who came too early. It felt a little like getting off the wrong floor on the elevator. You know the feeling -- You're traveling to the lobby, the elevator stops, you walk out and realize you're on floor 3. Oops.

Ideas are investor candy

One of the things I enjoy about my new role as investor is that people seek me out to tell me and sell me on their ideas.  I've always liked business ideas and my new role allows me to interact with them regularly. Ideas are like candy. They sweet and taste good but aren't particularly filling....In the same way, I love hearing ideas but when it comes to investing, I look for a team  who know a market and are executing in a real focused way.