In 2000, I joined hands with Deval Sanghavi and formed Impact Partners, at the time the first venture philanthropy firm focused on India.
I'd just graduated college when I read The Remains Of The Day. At the time I thought it was the best novel I'd ever read, and while that ranking may have changed, it's still in the top five.
I spoke earlier this week with a young founder, a couple of years out of college, and the conversation has moved me to rant. Not a rant about inexperience, though. Inexperience has its advantages, and experience has its disadvantages. This is a rant about taking on life risk.
The last decade has seen an explosion, worldwide, of organized entrepreneurship. Angels, seed funds, mentors, coaches, accelerators and incubators have proliferated (as have VC firms). And a (good) blog post can be found on just about every minute aspect of building a technology business.
It's been an extraordinary few days in Silicon Valley — a high-profile VC firm has been “blasted off the earth” and the industry is reacting in unusually visible ways.
The reactions have varied from the half-assed apology to the pre-emptive apology to the we-took-care-of-it apology to the high-minded-appeal-to-principles apology to the apology-of-the-day apology, from prominent VC firms (Lightspeed, Lowercase, 500Startups, Greylock and Binary respectively). Sadly all immediately put one in mind of Captain Renault in *Casablanca*.