Posts Tagged ‘Entrepreneurs’
Technology is always about firing someone.
The value proposition of “technology” is usually that an employer can fire someone. It is always about doing more work with fewer people. This typically has a short term advantage for a business owner, but typically create poorer experiences for their end users over the long run. Consider a banker, who may approve or disapprove…
Read MorePrinting Money and the Shiny New Toy
What drives the entrepreneur may be more complicated than what it seems… For many entrepreneurs, getting to revenue is not “success”, it can be a let down. I see this pattern over and over: an entrepreneur has a product that quickly makes some money, but they get distracted with a ‘new’ and ‘better’ idea. They…
Read MoreYou are not a tech entrepreneur.
Real entrepreneurs focus on the solutions they deliver, not the mechanism. There are countless industries where technology can improve things. Most of these industries are bland, run-of-the-mill industries that deliver services. It may be plumbing, pest control, or even pumping gas at a convenience store. These benign, everyday businesses focus on delivering some product or…
Read MoreThis product is great…for someone else.
The kiss of death. Entrepreneurs are constantly testing out their messaging. They are constantly pitching to their family and friends, and they are always prepared to pitch to investors. An entrepreneur’s pitch usually starts out with the problem in the marketplace, describes a ginormous total addressable market, then says how they are going to solve…
Read MoreThe Problems with Your Patent Attorney Owning Stock in Your Company
The Ethical Quandary Patent attorneys are entrusted with the responsibility of safeguarding their clients’ intellectual property. This fiduciary duty requires them to act in the best interest of their clients, providing unbiased and objective legal advice. However, when a patent attorney owns stock in a client’s company, their financial interests conflict with their professional obligations.…
Read MoreDo You Like My Invention?
Inventors often ask for my feedback on their inventions, but the only thing I ask about is revenue. As an investor who focuses on IP, I get asked for feedback on inventions and patents. I have written hundreds, maybe even a thousand patent applications, reviewed countless more, invested in startup businesses, co-founded one, been an…
Read MoreAvoid Wishful Thinking Patents
I just want “protection,” but I have a run-of-the-mill product. Most startup CEOs want patents because they want ‘protection,’ so they go to a patent attorney. And the patent attorney is in the unfortunate situation of having to find something “inventive” amongst a bunch of run-of-the-mill technology. For early stage startup companies, the entrepreneur becomes…
Read MoreRisks of Investing in Government-Sponsored Research
“March-in” rights under 37 CFR 401.6 allow the government to re-possess a patent using a very arbitrary process. One reason NOT to invest in startups based on government-sponsored research, including patents from universities. Inventors can get patents on government-sponsored research, and may university patents have a statement in the text of the patent that states…
Read MoreShowing Up – The Simplest Thing
Being a good steward of capital is the only metric that matters. As an early stage investor, I have only one meaningful metric: a good steward of capital. We do lots of due diligence, dig through endless agreements, check references, review contracts, and look at countless details. But in the end, we are trying to…
Read MoreContingency Fee Litigation Is Only a Last Resort
If you are having to do contingency fee litigation on your patents, you did something wrong. Contingency fee litigation is a unique feature of American Law, where attorneys perform some or all of the litigation – and they get paid only if they win. Contingency fee litigation is often associated with the “ambulance chaser” attorneys…
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