:: A Word from KP ::

KP, Kleiner Perkins, is THE Venture Fund. How do we know. We know. And at their web site I found the following:

What we look for:
- People
- Unfair advantages
- Risk up front
- Characteristics:
  sense of urgency, corporate partners, home run swings
- Defensibility in:
  critical mass, technology, franchise, content, distribution
- Shared upside ∓ simple structures

Nothing new here except for one thing that caught my eye.

Unfair advantages.

Cool.

For KP the Strat-Up game is not about having a fair chance at glory, it's not even about having a fair advantage over others, it's a game played on an uneven field, where the advantage sought is the unfair one.

Jordan vs. Jhonson - not interesting.
Jordan vs. Katash - not good enough.
Jordan vs. Me - now here is a bet to make, and this one is not on the other guy.

So why am I telling you this?

Because in our industry a lot of people spend a lot of time evaluating the chances their Stocks/Options will be worth something someday. If you are one of them, you might want to add one more thing to think about - how unfair is the game played by the company you bet on?

Wadi Writer #1 (Gray)
WadiList@mail.com

Links:

http://www.kpcb.com