Insights

Return of the Class of 1990s Software IPOs

The software IPOs of the 1990s are coming back – you heard it here first. That’s right, the old school enterprise software companies of yesterday will be doing IPOs starting in Q4 and there are a bunch of them. In some cases it will be new companies that look just…

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OpenTable – VCs Waste Another IPO

VCs lamented the dead IPO market ’round the clock at the AlwaysOn Venture Summit two weeks ago, where the theme of conference was the search for liquidity. Yours truly participated on one of three panels dedicated to raising the four horsemen from the dead. The NVCA has published a position paper…

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NVCA’s Two Big Blind Spots

The USA desperately needs to repair our growth IPO market. Our ability to efficiently deliver capital to innovative companies has been the heart of our economic leadership. Free ideas and then capital to support them! We must applaud the NCVA’s efforts to advance this dialog. The NCVA’s presentation does a…

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What is My Company Worth Today?

Last month I wrote about capital market participants being overwhelmed by technology innovation and winding up totally stupid about valuation.  Understanding the fundamentals of valuation theory helps us see how we got off the rails on value again – houses , stocks, etc – and how to think about value…

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Computers and the Internet Made the Markets Historically Stupid!

I have a degree in systems engineering and am a huge fan of technology – BUT the computer and the internet have unraveled our financial markets and made us really stupid. In fact, our unbridled adoption of these technologies has caused our markets to regress back to the days of…

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Investment Banking Had Already Changed

Last week, Reuters published a story with the headline Storied banks abandon Wall Street model. How about this headline: Reuters abandons news model in favor of 8 year old stories? Anyone who thinks it’s news that Goldman and Morgan abandoned their traditional business model has been asleep since 2000. Here’s…

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