I agree with the message that Sula is putting out this morning. Time is not relative in this venture, putting a time frame on a start up is like bowling with a golf ball, damn near impossible, you miss more than you hit. Like any start up, it takes a long time to get to the end, albeit the end of the line or to the final salable product.

I will use another Tech giant as an example. In 1990 I was at a VC meeting in San Francisco that was being put together by a group of Venture Capitalists from Sunnyvale, main speaker some guy named Steve Wozniak talking about a monumental shift over the next decade. This dude was talking about phones the size of wallets and wireless this and that, this is back when the cell phone looked like a brick and the cost was for the rich and famous. Yet here’s this goofy looking guy from a fruit company talking up a technology that was coming.

I wish I still had that file from that day. Apple was under a buck, when I did get in some 10+ years later it was $2.75, it’s been a good holding, but even in the early 2000’s I bought Apple as a speculative stock.

Now I’m not saying that we will see anything like the growth Apple has experienced in its life cycle, however one must remember a golden rule of Venture Capital: Some Assets must be put to bed and forgotten, or they will keep you up at night.

Sula is on the money, time is not relevant in the capital market, only products and assumed knowledge. Neither of which we have yet to see.

I’m going fishing! Have fun in TO

TKB