Evan Burfield – Startup America – K Street Capital Part 2

When you meet Evan Burfield, he looks you up and down and runs a quick algorithm. If the results indicate you can serve his short-term goals, you're a friend. If you have no apparent near-term value, even if you had helped him in the past, he deems you not worthy of his attention. That appears to be the formula. See a person, judge them from high to low in terms of the value they can perform in terms of his next goal. He's a brilliant analyst of short-term value and knows how to push the accelerator to get people to serve his goals. In this post, as in part 1 (seen here) and in upcoming Part 3 we follow this pattern and track the list of bodies that were pushed aside when value was extracted. Startup America - 2011 After Evan's second experience being fired by investors in the only companies he'd ever led and founded, he was once again, made available to industry. Yes sure, he'd been "promoted" to "Chairman of the Board," of Synteractive, a company that had no board supervision, but let's just say he was underemployed. In 2011, we find Evan, on the street, looking for some way to remain relevant....

Michael Riemer on Startups

The other day I read a Facebook post that seemed spot-on. It was a post by Michael Riemer on Startups, titled "10 Quirky Musings After 30 Years of Start-Ups." I asked Michael for permission to reprint and I'll let you guess whether it was granted or not. So without further ado, I present Michael Riemer on Startups! If you don't know where you are going, you will never get there - start with a roadmap and an exit strategy, adjust and refine as you go. The light at the end of the tunnel may be an oncoming train - be prepared to fail and keep going. You can't teach curiosity or passion - hire good "athletes" with drive and add domain expertise as needed. If you don't like roller-coasters, get off the ride - the hourly, daily, weekly and monthly ups and downs are not a fit for everyone and it always takes twice as long (or more) than you think. Customers are "never" right - they only know what they know but not what is possible so always work with them to focus on "the why." There are lots of things you can manage, but you can't control time - it...

Startup Funding: Who To Blame for the Lack of #DCTech Cash?

Who should we blame for the lack of startup funding in DC? Angel Investors - Let's blame the Angel Investors! Why aren't people like Mr Cranky investing in startups anymore? After all, wasn't Glen Hellman the #1 Angel Investor in the United States according to Tech Cocktail (tech.co) readers? Actually, no he wasn't and he, who is I, never was the #1 angel anywhere. He who is I, is (or am) also no longer an Angel Investor and the rest of this article describes why. Venture Capitalists - Let's blame the lack of startup funding on all the VC's who just don't "get it." Which isn't true if "it" is not understanding the value of a groovy app like Sick Weather. There is no it to get with apps like Trustify and Sick Weather.  The it that VCs do get however is the actually it that is the problem.  The it that is keeping them from actively investing in this region is that too few its have proven themselves to be worth it in DC as of late. That's why there used to be over 40 active VC's in this town and now there's only 4 or 5 or 6. The Government...

Evil - Fortify.VC

Trustify Lies and Washington Business Journal Bites

Yesterday, Andy Medici and the Washington Business Journal (WBJ) lowered the bar of business journalism by continuing to just reprint a Trustify Press Release instead of performing the any research. This story legitimizes the illegitimate. It's a disgrace. In yesterday's story Titled, Private detective startup Trustify adding 184 jobs in Arlington The WBJ embarrass themselves by aiding and abetting criminals. It's not the first time they've reprinted lies. It's not the first time I've pointed that out as you can see by this post: Washington Business Journal Buys Danny Boice Lies. Let's try and make sense of the senseless by quoting the WBJ in blue and rewriting to reflect reality. WBJ: "On-demand private investigator platform Trustify is spending $1.04 million to create 184 new jobs in Arlington, according to a joint press release by the startup and Gov. Terry McAuliffe’s office." Mr Cranky: "Highly-unreliable Dumpster fire formerly and more aptly known as Trustify assert they will spend $1.04 million to create 184 new jobs. They will spend the money to hire people to take care of their children, mow their lawn, clean their house, chauffeur them around and be personal servants...

A History Of Malfeasance – Peter Noce (updated 9/13/17)

Part 4 the final episode of A History of Malfeasance - Peter Noce Peter Noce, AKA Peter J. Noce, AKA Jay Noce, AKA Peter Joseph Noce The first 3 parts of this story focused extensively on Ikimbo, throughout the story a shadowy figure Peter Noce keeps popping up. Ikimbo Part 1 - I replace a CEO who threatened to quit if we didn't, in his words "sell," in reality give away Ikimbo to a company DDLabs run by Peter Noce Ikimbo Part 2 - I discover an email documenting a deal where the Ikimbo CEO would get partial ownership in Peter Noce's company DDLabs if and when the DDLabs "acquired" Ikimbo. Ikimbo Part 3 - Peter Noce's, DDLabs, Ikimbo's outsourced software development company gives away Ikimbo's Intellectual Property to a competitor. Part 1 - 3 have one thing in common...

Malfeasance - Sailboat Stuck on a Sandbar

A History Of Malfeasance – Turn of Century #DCTech Part 1

It was May, 2003. I had just finished my first "turnaround" as the President of Astracon, a Denver-Colorado/Brisbane-Australia-based company that had raised over $70 million from Cisco Systems, Geocapital Partners, The Edgewater Funds, Cross Atlantic Capital Partners and Australasian Media & Communications Fund. We sold the assets of that company with a less than stellar result. In the end, the investors realized a $2 million return on a $70 million investment. I was pretty sure that was my last "turn-around." Looking back on Astracon I'd blame the poor results on sub par execution, specifically, a lack of attention to results, an inattention to culture which resulted in division and distrust between teams, constant shifting focus, and way too much money too soon. There was no maleficence. With that behind me, I moved into the consulting phase of a Turn-Around exec. Consulting phase? One thing I learned doing turnarounds is you spend a lot of time as a "consultant." You know what a consultant is right? That's a thing you do in between jobs. So during my "consulting" time, I was lucky enough to land a non-paid, room-and-board-only, consulting gig as a crew member on Atlantica. A $1.5 million, Hinckley Southwester 42 making its way from its winter...