VC:VC 12 Angry Men

Our friends Daniel and Claudia treated us to a trip to the Colonial Theater last night, to see "12 Angry Men" starring George Wendt (Norm from Cheers) as the jury forman and Richard Thomas (John-Boy from The Waltons) as juror #8. The production is every bit as riveting for me, someone who knew the story, as the rest of us, who did not. If you are in Boston and able to see this, I recommend it highly.

Written for TV and then adapted for the big screen in the 1950s, "12 Angry Men" is a remarkable story of how personal psyche can color decisions as important as a capital murder case, and as impersonal as someone else's tragedy. The ancient Greek dramas and Shakespeare remind us that this is not a modern phenomenon, and it certainly makes for a good story.

Twelve angry men can sometimes describe the board of a young startup (although hopefully it is fewer than 12). Something has gone awry in the business plan. Executives and directors are at loggerheads as to what to do next. Just at the time when rational thinking is called for, everyone brings their own biases and prejudices: "I never thought the VP Sales was up to this", "the VP Services is blaming the customers again", "the CFO has no clue who are the most profitable customers", "can the CEO really hack it"... and worse, everyone gets to tell you so: "I told you we shouldn't have expanded so fast", "I told you we should have expanded faster" and so on.

In each case we hope the comments are drawn logically from the facts at hand. Sometimes, unfortunately, they are drawn from personal antipathies, replaying previous patterns from previous companies, or defensiveness to cover insecurity and self-doubt. When an entrepreneur is considering Venture Capital investors, making calls to some existing portfolio company CEOs and asking how the VCs behave in such situations is a very wise part of your due diligence. Of course, the VCs are doing the same about the founders.

In my Venture Cycling world, on the board of Hazon or JCDS for example, it is never 12 angry men - not least because there are women on the board. I think there is room for another entire post on the low participation of women in the startup world (on either side of the table). However, although women are just as susceptible as men to bring outside (or inside) reactions to a board issue, there is generally less anger at the table when women are present. Women seem to be a civilising force (no news here), even if only because of men's vanity (no news there either). This sounds like a setup for a Greek tragedy... but, precisely, that is where I started.

Principles 3.0

Actually, I do have principles, and I am mostly guided by the "full disclosure" principle that if you know what I am doing you can judge for yourself. I discussed this here, and promised never to take advertising on this blog and associated website.

However, as I return to the theme of Web 2.0 on a regular basis, I realised I was getting behind. Now Web 3.0 is on the horizon - in fact it has been so for a year or more (see here, here and here). Part of the power of Web 2.0 and Web 3.0 has been the levelling of the publishing playing field. Anyone can be a publisher and a large industry of what are known as advertising networks (or third party advertising networks) has grown up - starting with Google, but including all the big players and some small ones too. With a third party advertising network, a two-bit publisher (like me) can easily mark out how and where advertisements will appear, and the network displays ads from its customers according to whatever recondite method it uses. The publisher does not know in advance what ads will be displayed, and doesn't have to worry about "selling space" like a newspaper or TV channel. Magically, at the end of each month a check (or PayPal payment) appears for the publisher's "cut" of the advertising revenue.

In order for me to understand this more fully I have decided to experiment with a couple of advertising networks, so you can expect to see small ads on this blog and the associated website soon. Let me know if you find them odious.

Here is my new disclosure, which is found at the footer of each blog page and web page:

This website and the associated blog accepts advertising from third party advertising networks, mostly so I understand how those work. I have no control over which advertisements are displayed, I do not accept paid sponsorships, and I am not writing for income. Any payment I receive from advertising networks is donated to charity. I write for my own purposes. However, I may be influenced by my background, occupation, religion, political affiliation or experience. The Amazon.com links in this blog have my affiliates code embedded in them which results in small amounts of commission payment (which I donate to charity).


Standing at the edge of the spring

I was just reminded that in Hebrew, a spring - a source of water, is called ayin hamayim, literally: eye of the water. In this week's reading from the Torah we hear about Eleazer standing at the edge of the spring waiting to find a bride for Abraham's son Isaac. The moment is full of expectation and of hope. He is about to meet Rebekah and bring her back to Isaac. She will bear Jacob and Esau, and much water will flow about them, between them, through them and down the generations to us.

Tonight, Dorit and I had the privilege to attend the installation as Dean of the Hebrew College Rabbinical School of our friend Rabbi Sharon Cohen Anisfeld. It is a remarkable moment and it drew us all in, through its joy and its moment, to the fact that we are standing at the edge of the spring, and something important is about to happen to the Jewish People.

The Hebrew College Rabbinical School is less than five years old. It is formed from the vision of Dr David Gordis, the College's President, and Professor Art Green, who was the founding Dean of the Rabbinical School and is now its Rector. It is a trans-denominational school. Students come to study the depth and breadth of Jewish text in an intense and traditional way. They come from all walks of life, from all denominations and none, and they have a vision for leadership of pluralism and inclusivity that drove them to choose this school rather than the established denominational schools (Orthodox, Conservative, Reform and Reconstructionist). These students will become Rabbis who will have a major and positive impact on our community.

As Sharon assumes leadership of this Rabbinical School we could all glimse the generations of students she will teach and lead. Sharon's students, and her students' students are still a twinkling in her eye, in the eye of the community, in the eye of the water. Water is soft, and gentle, and yet can carve through rock. Expect great things.

11 miles of bliss

My ever-patient friend at Belmont Wheelworks, Scott Chamberlain, changed the chain on my bike last night, in another attempt to fix the problems I have been having in 5th gear. I was sceptical, but I knew today was going to be a great day for a ride, and I had some time this morning. I picked up my bike and rode it round the block in Belmont a couple of times just to see if the 5th gear problems were still immediately apparent. They were not.

I drove my bike home and went out on my 11 mile route on Commonwealth Avenue ... up to BC, back to route 16, turn around and repeat up to BC and then home.

What bliss! I was a whoopin' and a hollerin' (not bad for a Brit) with the wind and sun in my face and the road flying by under my wheels.

I have found that I love cycling. I love the exercise and the fresh air and ... all the things you can imagine. I knew I was missing it the last month, but only today did I realise how much I was missing it. My next steps are to get a stand for my bike so I can exercise and train through the winter.

Previously, after a fix for my 5th gear problems it has seemed as if all was fixed, and then the problem returned. This morning, I can report 11 miles of so far so good.

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