There’s no polite or easy way to say this, but winter is on its way in the venture world. It’s getting tougher and tougher for startups caught in the lukewarm limbo between ideas and invoices to get their early backers to up their bets especially when it’s not clear that they’ve found a viable business model and/or a way to stop the bleeding sooner rather than later. Too many pivots with too little to show for the dollars down the drain and pretty soon no one wants to hear your, “someday soon,” story or your next grand plan. Continue reading
Category Archives: venture capital
The first time I heard the word “obsolete” was when I overheard my father talking to a stranger on a bus. They were speaking about a new expressway that the city had built, and the stranger said, “That thing was obsolete before they ever opened it.”
I was impressed. I went home and looked up the word. And in time I realized the stranger was right. The builders of the new road had put in four lanes but should have put in six. Soon enough, traffic was snarled, and eventually cars started avoiding the route altogether. Then the side streets became overcrowded with autos. The whole thing was a mess.
“Obsolete” was a terrible word. It still is. If something or someone is obsolete, then he, she, or it no longer works. He, she, or it languishes in irrelevance. And then he, she, or it comes to be avoided altogether. Everyone would rather take the side streets. Obsolete things are just in the way. They are like old professors on college campuses. The young sneak behind buildings in order to avoid them.
Today’s Millennials are not obsolete—yet. Born between 1980 and 2000 they came to this planet during a fairly prosperous time, so they represent a population glut. There are already more Millennials alive than Baby Boomers, who constituted the mother of all population explosions.
Corporations are working overtime to figure out how to market to this bunch of fickle young consumers, who have an embarrassment of choices. Human resources directors are wondering how to motivate them in the workplace. They are praised for wanting a more healthy balance between work and life (some of them think overtime is evil), and they are feared, almost, for being digital natives. Unlike the rest of us, they grew up high-tech, so what do they know about cyberspace that we don’t?
Others can’t stand them—why won’t they look us in the eye at Starbuck’s instead of staring at their phones all the time? And a few of us older people see them as symbols of a world we don’t want to have much to do with. The whole idea of “looking something up on your phone” (which has more data than your local public library) seems repugnant somehow.
But there’s one thing these non-obsolete Millennials can’t avoid: In time, they will become obsolete, like the city expressway of my childhood. They will seem irrelevant. They will be in the way. Young people will hide from them. The new generation will have to work around them.
The question, though, is how can Millennials tell when they’re becoming outmoded?
Like, invest in my startup, huh?
The answer is simple. It’s when they start beginning sentences with “These kids nowadays…” I’ve heard early rumblings of this sentence, as when an older Millennial said of younger Millennials, “These people just take wireless computing for granted.” He was too young to say “these kids,” but give him another ten years.
The truth is that older Millennials are already far enough along to have teen-aged children. A Millennial born in 1980 is now thirty-six and may well have a fourteen-year-old around. In just ten years that will be true for Millennials born in 1990. They will enter that most dreaded source of becoming old-fashioned and resented: parenthood. And then you will hear such sentences as these:
“You kids have it so lucky. We actually had to flip switches to get lights on in a room—none of this decadent voice-activation stuff.”
“You’re lucky, you kids: When I was your age we couldn’t get our genes edited at birth to make us better-looking.”
“Yes, that’s right, kids. Only when a political party isn’t in power does it object to big government deficits. That’s the way it’s always been. Don’t think that you kids can change it!”
“You kids just trust technology too much. I don’t want to have a robot remove my appendix even if it is cheaper.”
Do you hear the notes of weary impatience in these sentences? Do you detect the tone of resentment in the voice of older people when they encounter the youth and idealism of their kids? Do you sense the envy of the young? Do you pick up on the fatigue of bearing parental burdens?
Yet every one of these sentences will be spoken by…a Millennial. They will be speaking to their offspring, which will be called something like Generation Alpha.
And what about the rest of us—old Boomers and Gen X types? Most of us will be even better than obsolete. We’ll be dead.
But don’t you feel better knowing that these young whippersnappers today will also go the way of all flesh? That’ll be true even if, as predicted, people will be immortal by having their brains downloaded into a computer.
Eventually, even the computer will become…obsolete! Ha!
Tom McBride is co-author of The Mindset Lists of American History
and the author The Great American Lay: An All Too Brief History of Sex.
He lives in southern Wisconsin.
Graphics from MS Office.
This article appeared in News From Heartland
by Jim Dallky
Chicago tech is growing up.
One sign of a maturing tech ecosystem is the success of a city’s serial entrepreneurs, and recently we’ve seen some of Chicago’s most high profile founders and technologists move on to their next companies, and tackle big industries like the Internet of Things, cancer research, and artificial intelligence. Continue reading
by Lisa Earle McLeod
Attracting and keeping top millennial talent is a burning issue for leaders. Millennials are 35% of the workforce. By 2020 they’ll be 46% of the working population.
An investor, Sally, recently heard two pitches. The first was from A-Dot-Co, which will produce polka-dot jellybeans using a new patented process. The second was from BetterBean, will produce purple jellybeans using a trade secret method which improves existing manufacturing processes.
Having spent several years owning a candy company, Sally was interested in both opportunities. Continue reading
Optimizing Human Behavior with a STEM Model
by Moises Goldman PhD
The Human Conundrum
For the last 15 years I have given numerous seminars aimed at optimizing executive and managerial performance in technology driven firms. The goal is to optimize departmental performance resulting in the larger optimization of an entire firm. As the theory goes: If the whole is the sum of the parts, and each part is optimized, then the whole is optimized.
These experiences have challenged my ability to communicate with people involved in STEM fields. This group represents a highly gifted segment of the population, and they tend to be very results driven. How does one reason, interpret, and convince scientists to modify their own behavior? Continue reading
By Erik Clausen
Several months have passed since the U.S. Presidential election, and…we’re still here, folks. After years of political rhetoric and theatrics, and a few months of uncertainty, we are starting to gain some clarity around exactly what the new administration and its policies might mean for the life science industry and, by extension, marketers within it.
Most importantly and as a wise man wrote before the election, “There is no need for panic.” Continue reading
Recently, Inc.com published an article about the best cities for early-stage companies. The premise: Chicago is the surprise winner.
Why would that be? San Francisco and New York are both beautiful, thriving cities that dramatically represent the diversity of American ideas. San Fran—younger, more venture-oriented, with beautiful natural vistas. New York—the classic, bustling private and public equity concrete jungle.
What do they have in common? It costs a kidney to pay rent for a closet. Continue reading
He can feel it, hear it—his heart—beating hard, beating fast. Pounding above the din of those big nubbly tires and the blast of snow hitting the wheel wells. Is it anticipation? Fear? Primeval blood lust?
How will it feel to gun down a living animal? Can he really pull the trigger?
Today, Loop Lonagan joins seven seasoned hunters and four highly trained dogs to indulge in what his editor calls one of the great joys in life—slaughtering a few of God’s creatures. He’s a last-minute stand-in and rounds out the party to eight. Two hunters per dog. Perfect! How did he let himself get roped into this? Continue reading
by Stephanie Wiegel
Angel investment deals aren’t made on the spot as the TV show Shark Tank suggests. Instead, entrepreneurs are excused from the meeting after delivering their pitches. If you’re vying for early investment money, what’s said behind these closed doors can make or break a deal. Continue reading