Subscribe to AVC
>500 subscribers
Subscribe to AVC
>500 subscribers
Share Dialog
Share Dialog
A friend and I dined last night at a restaurant that opened in our neighborhood last summer, in the middle of the pandemic. For the first six months of its existence, they could not welcome diners into the space that they had spent time and money creating. They carried on, figured out how to make money serving customers outside. As the NYC economy starts to recover, they are still standing. And they are now welcoming diners into the lovely space they created for them a year ago.
Resilience is an extremely valuable trait when you are starting and running a business. In a bull market that rewards other things, it is often overlooked. But I don’t overlook it.
A reporter asked me recently about a company that I am on the board of that has become very successful. I told the reporter that for years, the founder carried on while every competitor left the market in search of a viable business. The viable business arrived eventually and the founder was rewarded for his patience.
Sticking with something, even when the chips are down, is hard. Many people (most?) can’t do it. They are impatient. They want the easy money.
While the world has been going through a painful and deadly global pandemic, the tech sector has experienced a bull market of epic proportions that has lifted all boats and made some incredibly wealthy. But that bull market will eventually end and things will get harder for founders and CEOs and investors.
And that is when resilience will be in short supply. So look for it in founders now, when it is less necessary.
A friend and I dined last night at a restaurant that opened in our neighborhood last summer, in the middle of the pandemic. For the first six months of its existence, they could not welcome diners into the space that they had spent time and money creating. They carried on, figured out how to make money serving customers outside. As the NYC economy starts to recover, they are still standing. And they are now welcoming diners into the lovely space they created for them a year ago.
Resilience is an extremely valuable trait when you are starting and running a business. In a bull market that rewards other things, it is often overlooked. But I don’t overlook it.
A reporter asked me recently about a company that I am on the board of that has become very successful. I told the reporter that for years, the founder carried on while every competitor left the market in search of a viable business. The viable business arrived eventually and the founder was rewarded for his patience.
Sticking with something, even when the chips are down, is hard. Many people (most?) can’t do it. They are impatient. They want the easy money.
While the world has been going through a painful and deadly global pandemic, the tech sector has experienced a bull market of epic proportions that has lifted all boats and made some incredibly wealthy. But that bull market will eventually end and things will get harder for founders and CEOs and investors.
And that is when resilience will be in short supply. So look for it in founders now, when it is less necessary.
AVCSleep
I got an Oura ring a couple of years ago and have been working on improving my sleep and sleep habits ever since. For much of my adult life, I have been a poor sleeper. I have always been able to fall asleep quickly, but I have been plagued by two sleep issues. The first is waking up in the middle of the night and not being able to get back to sleep. The second is waking up early, like 4:30/5am, and being wide awake. So I’ve been working on those two things. I still wake up in the middle of t...
AVCMirror
I have written many times here that it is important to me that I control the platform that I publish on. I use the open-source WordPress software for my content management system and run that on a hosted server. I use my own domain, AVC.com, to locate my writings on the Internet. That has served me well. No matter how horrible I become, nobody is going to take me down. But we can go even further down this path of controlling our destiny. We can decentralize the entire thing; the content manag...
AVCOpen Office Hours at NYC Tech Week
NYC Tech Week is next week. It will be a week filled with events for the tech sector to engage and connect with each other. A particularly great part of tech week is VC Open Office Hours. There are over 100 VC investors signed up to participate next week. Here is how it works: 1/ you select four investors (out of more than 100) that you want to meet 2/ you get up to four twenty minute meetings 3/ you discuss your idea with the investor in hopes of getting them interested enough to take anothe...
AVCSleep
I got an Oura ring a couple of years ago and have been working on improving my sleep and sleep habits ever since. For much of my adult life, I have been a poor sleeper. I have always been able to fall asleep quickly, but I have been plagued by two sleep issues. The first is waking up in the middle of the night and not being able to get back to sleep. The second is waking up early, like 4:30/5am, and being wide awake. So I’ve been working on those two things. I still wake up in the middle of t...
AVCMirror
I have written many times here that it is important to me that I control the platform that I publish on. I use the open-source WordPress software for my content management system and run that on a hosted server. I use my own domain, AVC.com, to locate my writings on the Internet. That has served me well. No matter how horrible I become, nobody is going to take me down. But we can go even further down this path of controlling our destiny. We can decentralize the entire thing; the content manag...
AVCOpen Office Hours at NYC Tech Week
NYC Tech Week is next week. It will be a week filled with events for the tech sector to engage and connect with each other. A particularly great part of tech week is VC Open Office Hours. There are over 100 VC investors signed up to participate next week. Here is how it works: 1/ you select four investors (out of more than 100) that you want to meet 2/ you get up to four twenty minute meetings 3/ you discuss your idea with the investor in hopes of getting them interested enough to take anothe...
No comments yet