VC Cliché of the Week

I’ve heard myself saying what goes around comes around a lot lately. I believe that in the long run, people get what they deserve. However, in the short run it often doesn’t work that way.

But I am a long term kind of person. I’d rather optimize for my entire career than for any single trade, deal, or investment.

Recently I have gotten a lot of reference calls on people that I worked with (or my fund worked with) in the 1996 – 2000 period. I guess many of the people who were active during that time period are active again, whether its starting companies, raising money, raising funds, etc.

I don’t like to give negative references, in fact I won’t give a negative reference to anyone other than my closest confidants. But I will refuse to give a reference. I think that sends the appropriate signal.

On the other hand, there are many people out there that have done the right thing, stood up to their responsibilities, gotten people out of the messess they got them into. I can’t say enough good things about people like that. Maybe we didn’t make money with them. Maybe we did. Doesn’t matter. Standup people are standup people.

So when you are operating in the business world, remember that what goes around comes around. It always does.