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David Semeria › Comments

David Semeria
Re: The Pro-Rata Opportunity - http://avc.com/2014...
"That is clear. But the outcomes for the LPs would be the same in both cases. I suspect the reason is to keep each fund's performance separate so it can be compared like-for-like with similar funds." - David Semeria
David Semeria
"That reminds me of the Bill Gates quote regarding years and decades. Again, I'm not sure I agree 100%." - David Semeria
David Semeria
Re: The Pro-Rata Opportunity - http://avc.com/2014...
"If LP's are obliged to invest in both funds, I'm struggling to see the difference between two smaller funds and one big one." - David Semeria
David Semeria
"Albert, I don't want to sound like a broken record on this issue, but I still think you're overestimating how great the impact of technology will be. In many respects it's easier to create a self-driving car than a robotic plumber or carpenter or electrician. This is because the application domain for a car is actually much easier to define than for the others. If you've ever tried to install a fridge in a unit that was not designed to hold a fridge you'll know what I mean. I agree that many jobs -- where the application domain is more easily defined -- could shift either to other humans offshore or to machines. This includes previously "safe" professions such as doctors, lawyers, accountants, etc. But I see a large rump of professions that will be safe, given the necessity of either physical intervention and / or unpredictable application domains. We have a good track record of overestimating the impact of technology. Blade Runner is only five years from now..." - David Semeria
David Semeria
Re: Independent Directors - http://avc.com/2014...
"There's a lot wisdom there, JLM. Managing a board is like playing chess: it's not enough to know the rules, you also need know the most common gambits. A bit like being a politician, sort of." - David Semeria
David Semeria
Re: Independent Directors - http://avc.com/2014...
"Yes Charlie, that was a cracking post." - David Semeria
David Semeria
"Thanks an amazing clip, thanks for sharing. There were more insights into Job's psyche than in countless articles I have read." - David Semeria
David Semeria
Re: SeeChange: Video Will Be Everywhere (What Do We Want?) - http://continuations.com/post...
"I think we both agree regulation is pointless in this context. Real life will become like the web: default public (ie potentially captured on camera) unless expressly stated otherwise. It's interesting to think about Egger's monopolistic corporation in the light of Fred's recent post on winner-takes-all platforms -- in the sense the former is invented, whereas Fred's examples are not. If we can imagine a world in which millions (billions?) of live video streams are stored, indexed and searched, then we are also a forced to consider a world in which one dominant platform becomes the authoritative source for this information. Whilst the ability of one single organization to shape the future remains in the realm of science fiction, the ability to shape the recent past possibly might not..." - David Semeria
David Semeria
Re: Be Nice Or Leave - http://avc.com/2014...
"But I remember you saying on the blog several years ago that you frequently get low scores for empathy in psychology tests....." - David Semeria
David Semeria
Re: What Seed Financing Is For - http://avc.com/2014...
"Bingo Arnold!" - David Semeria
David Semeria
Re: What Seed Financing Is For - http://avc.com/2014...
"The "man" is the person deciding whether or not you've achieved PM fit. Given that most VCs are men, I'm comfortable with what I wrote." - David Semeria
David Semeria
Re: What Seed Financing Is For - http://avc.com/2014...
""One person's meat is another person's poison" -- just doesn't sound right." - David Semeria
David Semeria
Re: What Seed Financing Is For - http://avc.com/2014...
"Well, a lot depends on how you define product / market fit. One man's thousand users is another man's million." - David Semeria
David Semeria
Re: Blended Learning - http://avc.com/2014...
"Blended learning sounds similar to the Montessori approach. I'm a huge fan of making school fun, and of creating an environment where children learn rather than being taught. I also read this very interesting BBC article about a school in NYC which has been taking this approach for years." - David Semeria
David Semeria
Re: The Coming Information Age (Possible Book Outline) - http://continuations.com/post...
"I think your outline covers a lot of ground Albert. What is perhaps missing is a description of the overarching thesis. For example, I'm a fan of Darwinism as applied to many areas, not just biology. I think this was the key problem with Communism: it contained no mechanism for natural selection. If I understand your thinking correctly, you're saying the overall rules of the game will remain Darwinian, but the features necessary to prosper are undergoing very profound change. I think the reader would appreciate a simple such summary (an elevator pitch if you like) -- it's something they can keep in mind as they process the various sections of the book." - David Semeria
David Semeria
Re: Greatest GIF Ever - http://avc.com/2014...
"David Karp: Thank you, Mr. President, for inviting Tumblr to your house. President Obama: Well, it's a rental house Quality." - David Semeria
David Semeria
Re: Technology, Time Preference and the Return on Capital (Companies) - http://continuations.com/post...
"Indeed. But how can one "buy attention out of cash flow" if one needs attention to get the cash flow in the first place? I agree that attention is the scarcest resource of all, but there is a finite number of Kickstarter projects I can get organically interested in per month. After that, my attention is essentially bought..." - David Semeria
David Semeria
Re: Technology, Time Preference and the Return on Capital (Companies) - http://continuations.com/post...
"Albert, I think you're only looking at half of the equation. If it's true that it's now much cheaper to get into business, that must also be true for your competitors. In other words, the capex barrier has simply been moved from the launch to the traction phase. I would argue that bottom-up, zero SEM, initiatives like Google, Facebook and Twitter will go down in history as statistical blips. In a market as efficient as the web, access to capital -- I believe -- will represent a key advantage, simply for the exposure it can buy." - David Semeria
David Semeria
Re: This Is What Happens When You Let A Monopoly Own The Last Mile - http://avc.com/2014...
"This is remarkable and, to us Europeans at least, pretty un-American. What was the logic in allowing local communication monopolies?" - David Semeria
David Semeria
Re: Some Thoughts on iOS8 - http://avc.com/2014...
"That's very smart Fred. Even if you, like me, resent much of Apple's "control freak" DNA, a world with just one dominant mobile OS is not a nice world..." - David Semeria
David Semeria
Re: Health Care’s Inflection Point - http://avc.com/2014...
"That, as you know, is the (temporary) price one sometimes has to pay for being disciplined." - David Semeria
David Semeria
Re: Health Care’s Inflection Point - http://avc.com/2014...
"Rigor on investment thesis and rigor on price. It's remarkable how many professional investors have neither." - David Semeria
David Semeria
Re: Fun Friday: What Sports Team Would You Buy If You Could? - http://avc.com/2014...
"The Mighty Red Machine -- Liverpool Football Club" - David Semeria
David Semeria
Re: Grading Colleges? - http://avc.com/2014...
"A democratic society rests on the concept of voting our politicians. A meritocratic society is simply an extension of this idea. Good service needs to rise to the top and bad service needs to fall away. And not just universities. Post offices, banks, plumbers, you name it. I've dedicated my last three years to making this happen in a clear and open way." - David Semeria
David Semeria
Re: Passing It Down - http://avc.com/2014...
"Thanks LE. The problem is not the playing, it's the building. It took me all of Saturday to build the bloody plane, but then they spent most of Sunday playing with it. I guess they're a bit spoilt (they've got several helicopters like the one in your picture, for example)." - David Semeria
David Semeria
Re: Passing It Down - http://avc.com/2014...
"It's more of a question of attention spans: they seem decrease with every generation. Mine was a lot shorter than my father's and my kids are no different." - David Semeria
David Semeria
Re: Passing It Down - http://avc.com/2014...
"Duplicate" - David Semeria
David Semeria
Re: Passing It Down - http://avc.com/2014...
"Um, my weekend project with my boys (9 & 11) was to build this Lego plane. As usual they were in a mad rush to get it finished but I tried to explain that if you don't get the gears and cogs just right, it won't work and we'd have to dismantle it to fix it. So slow and careful was best... Yeah right. After 10 minutes they got bored and went back the instant gratification of games on their Nexus 7s. Made me think: I would have killed for a plane like that at their age...." - David Semeria
David Semeria
Re: Feature Friday: Tablet Stand - http://avc.com/2014...
"This one also looks very cool" - David Semeria
David Semeria
Re: Feature Friday: Tablet Stand - http://avc.com/2014...
"That's pretty cool..." - David Semeria
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