Disclosure

The disclosure police have been making noises in the comments here at AVC and on Twitter that suggest I do not disclose conflicts and other important information when I write about things I am close to here at AVC.

I thought I would take a moment to describe how I think about this issue:

1/ I want AVC to have a casual informal feel, like a conversation between colleagues in the office or friends over a drink at the bar. I work hard to write in a conversational tone. I like to tell stories and use my own voice.

2/ I do want to disclose when I am writing about something where I or USV has a financial interest. But I don’t want it to feel like a lawyer wrote it. So I typically will say something like “our portfolio company Coinbase” or “LittleBits, a company that the Gotham Gal and I are investors in.”

3/ My goal is not to soft pedal the disclosure. I want to do it in a way that doesn’t ruin the flow and readability of this blog.

4/ I am not going to go overboard and negatively disclose things. It was suggested yesterday on Twitter that I should have disclosed that I do not have a financial interest in AirBnb. If I don’t disclose a conflict, you should assume I don’t have one.

5/ I miss things every now and then. I write a post every morning. I am writing this one on my phone on the park bench outside my favorite coffee shop. I don’t have an editor or any review process. I will hit publish in a minute and the post will go live. As hard as I try to be diligent about disclosure, I don’t get it right 100% of the time. But I am certain I do better than 90% and likely higher than that.

6/ When people alert me to mistakes (typos, no disclosure, misspellings, etc), I will go and edit the post and address it. But many of you read this blog via email and once those go out, I cannot edit them.

7/ Check the comments if you have questions about anything in the post. The comments are a daily conversation about things I wrote in the post and I often clarify things there.

In summary, I am trying to do the right thing. I realize that I have influence via this blog and Twitter and that I could use it in ways that benefit me financially. I realize that this blog does benefit me financially. For example, I understand that my seven years of bullishness on crypto here at AVC has benefitted our personal crypto portfolio and USV’s crytpo portfolio.

But I am not blogging for those reasons. I am blogging to share my views with all of you so that I can have a dialog with the world at large about them. I am thinking out loud and learning immensely from it. That is my agenda and those of you who have been reading and hanging out here over the years understand that. My hope is that the disclosure police will too.