Fred Wilson, on Profits vs. Growth:

But I’m a bit sick and tired of the objective of every operating plan I see is to get the business to a point where it can raise money at a much higher price. That’s nice and it’s how the VC/startup game is played. But at some point I’d prefer to see an operating plan that has the objective of getting to sustainable profitability. And I do mean sustainable.

Even for those that want the regular VC/startup game to continue as is, at some point you need more giants like Google and Apple to rise up. Other wise you’ll eventually run out of large companies interested in buying the startups VCs invest in.

Multiplexed Uploads

With HTTP/2 cURL is going to support multiplexed uploads:

I’ve successfully used the http2-upload.c code to upload 600 parallel streams to the test server and they were all sent off fine and the responses received were stored fine.

Most of the discussion in HTTP/2 around multiplexing is for downloading. I hadn’t given much thought to multiplexing uploads.

Any browsers looking to implement this?

James Smithson

On 27 June 1829 James Smithson died, 186 years ago today. Why is this note worthy?

The Smithsonian Institution was established with funds from James Smithson (1765-1829), a British scientist who left his estate to the United States to found “at Washington, under the name of the Smithsonian Institution, an establishment for the increase and diffusion of knowledge.”

From the Smithsonian Institution Archives.

The funds left by James Smithson amounted to more than $500,000, in 1838.

He apparently never visited the United States, and the exact reason he included this clause in his will is unknown.


Slide 24 from U.S. Tech Funding — What’s Going On? | Andreessen Horowitz mentions something I’ve seen brought up previously:



As you get to $40+ million rounds, these are effectively “quasi-IPOs.”

There seems to be a significant shift in what historically would have been IPO level money into pre-IPO companies.

Fred Wilson’s comments about The Coming Change In Monetary Policy has me thinking this is related to low interest rates:

valuation multiples are inversely correlated to interest rates. When rates rise, valuation multiples fall.

As rates start going back up the calculus around “quasi-IPOs” will likely change as well.