welcome to this installment of hit mojo and watch module joining is our special
and watch module joining is our special
and watch module joining is our special guest Brad Feld I’m your host Ashley and
guest Brad Feld I’m your host Ashley and
guest Brad Feld I’m your host Ashley and carbon solutions so Brad welcome to
carbon solutions so Brad welcome to
carbon solutions so Brad welcome to Montreal here we are at Notman house
Montreal here we are at Notman house
Montreal here we are at Notman house which is the home base of founder fuel
which is the home base of founder fuel
which is the home base of founder fuel so let’s get right to it Brad you have a
so let’s get right to it Brad you have a
so let’s get right to it Brad you have a new book out it’s called startup life
new book out it’s called startup life
new book out it’s called startup life surviving and thriving in a relationship
surviving and thriving in a relationship
surviving and thriving in a relationship with an entrepreneur so tell us all
with an entrepreneur so tell us all
with an entrepreneur so tell us all about it so startup life which will be
about it so startup life which will be
about it so startup life which will be officially out at the end of January but
officially out at the end of January but
officially out at the end of January but probably it’s available for pre-order
probably it’s available for pre-order
probably it’s available for pre-order now is a book i read with my wife Amy
now is a book i read with my wife Amy
now is a book i read with my wife Amy bachelor and the essence of it is the
bachelor and the essence of it is the
bachelor and the essence of it is the two of us have worked really hard over
two of us have worked really hard over
two of us have worked really hard over the 22 years haven’t been together to
the 22 years haven’t been together to
the 22 years haven’t been together to figure out how to be a successful
figure out how to be a successful
figure out how to be a successful entrepreneurial couple where you know
entrepreneurial couple where you know
entrepreneurial couple where you know one of us is living this crazy
one of us is living this crazy
one of us is living this crazy entrepreneurial life and we’ve got a lot
entrepreneurial life and we’ve got a lot
entrepreneurial life and we’ve got a lot of friends who have figured that out too
of friends who have figured that out too
of friends who have figured that out too and we’ve got a lot of other friends who
and we’ve got a lot of other friends who
and we’ve got a lot of other friends who struggle with it and every entrepreneur
struggle with it and every entrepreneur
struggle with it and every entrepreneur I run into is either struggling with it
I run into is either struggling with it
I run into is either struggling with it or has struggle with it and every
or has struggle with it and every
or has struggle with it and every partner is struggling with it it doesn’t
partner is struggling with it it doesn’t
partner is struggling with it it doesn’t matter what gender doesn’t matter
matter what gender doesn’t matter
matter what gender doesn’t matter whether they’re both entrepreneurs
whether they’re both entrepreneurs
whether they’re both entrepreneurs doesn’t matter age it’s just hard and so
doesn’t matter age it’s just hard and so
doesn’t matter age it’s just hard and so we try to write a book that talks about
we try to write a book that talks about
we try to write a book that talks about our experience and many other
our experience and many other
our experience and many other experiences and give some very practical
experiences and give some very practical
experiences and give some very practical advice as well as a lot of philosophical
advice as well as a lot of philosophical
advice as well as a lot of philosophical advice about how to think about being in
advice about how to think about being in
advice about how to think about being in a relationship with an entrepreneur and
a relationship with an entrepreneur and
a relationship with an entrepreneur and how to be a couple that has that kind of
how to be a couple that has that kind of
how to be a couple that has that kind of cadence in their life now so you’ve been
cadence in their life now so you’ve been
cadence in their life now so you’ve been married for 22 years were you ever at a
married for 22 years were you ever at a
married for 22 years were you ever at a like start up together like when you
like start up together like when you
like start up together like when you were really yeah so so I actually Amy’s
were really yeah so so I actually Amy’s
were really yeah so so I actually Amy’s my second wife so I married my high
my second wife so I married my high
my second wife so I married my high school girlfriend and my first company
school girlfriend and my first company
school girlfriend and my first company was one of the inputs into us not having
was one of the inputs into us not having
was one of the inputs into us not having a successful relationship we ended up
a successful relationship we ended up
a successful relationship we ended up splitting up after three years I had to
splitting up after three years I had to
splitting up after three years I had to say we got married it was good for three
say we got married it was good for three
say we got married it was good for three days and we eventually got divorced
days and we eventually got divorced
days and we eventually got divorced three years later we had no kids it was
three years later we had no kids it was
three years later we had no kids it was more like a post college breakup but you
more like a post college breakup but you
more like a post college breakup but you know the fact that i was working 100
know the fact that i was working 100
know the fact that i was working 100 hours a week and that the startup was my
hours a week and that the startup was my
hours a week and that the startup was my priority certainly negatively impact our
priority certainly negatively impact our
priority certainly negatively impact our relationship Amy and I were friends in
relationship Amy and I were friends in
relationship Amy and I were friends in college so we knew each other during
college so we knew each other during
college so we knew each other during that period
that period
that period and she actually worked for a period of
and she actually worked for a period of
and she actually worked for a period of time she was a fourth employee at this
time she was a fourth employee at this
time she was a fourth employee at this first company of mine and so she saw
first company of mine and so she saw
first company of mine and so she saw before we were involved in a
before we were involved in a
before we were involved in a relationship sort of what that dynamic
relationship sort of what that dynamic
relationship sort of what that dynamic was i like to say she knew what she was
was i like to say she knew what she was
was i like to say she knew what she was getting into but but even that wasn’t
getting into but but even that wasn’t
getting into but but even that wasn’t enough in some ways we had a very sort
enough in some ways we had a very sort
enough in some ways we had a very sort of crisis moment about a decade into a
of crisis moment about a decade into a
of crisis moment about a decade into a relationship as i was still wandering
relationship as i was still wandering
relationship as i was still wandering the line between entrepreneur investor
the line between entrepreneur investor
the line between entrepreneur investor where i was chairman of a couple of
where i was chairman of a couple of
where i was chairman of a couple of companies that i had co-founded as well
companies that i had co-founded as well
companies that i had co-founded as well as trying to be a venture investor in
as trying to be a venture investor in
as trying to be a venture investor in the middle of 2001 when the internet
the middle of 2001 when the internet
the middle of 2001 when the internet bubble blow up and that was pretty
bubble blow up and that was pretty
bubble blow up and that was pretty challenge that was really the most
challenge that was really the most
challenge that was really the most challenging time that I’ve had my
challenging time that I’ve had my
challenging time that I’ve had my relationship because having been
relationship because having been
relationship because having been divorced I mean that was a disastrous
divorced I mean that was a disastrous
divorced I mean that was a disastrous relationship but with Amy we’ve been
relationship but with Amy we’ve been
relationship but with Amy we’ve been together 10 years and there was no
together 10 years and there was no
together 10 years and there was no question that we wanted to be together
question that we wanted to be together
question that we wanted to be together but suddenly we found ourselves in this
but suddenly we found ourselves in this
but suddenly we found ourselves in this place where from her frame of reference
place where from her frame of reference
place where from her frame of reference the relationship just wasn’t satisfying
the relationship just wasn’t satisfying
the relationship just wasn’t satisfying it’s funny because when i started
it’s funny because when i started
it’s funny because when i started watchmojo i asked my wife to join me
watchmojo i asked my wife to join me
watchmojo i asked my wife to join me right from the get-go because i said as
right from the get-go because i said as
right from the get-go because i said as my wife you’re going to have your
my wife you’re going to have your
my wife you’re going to have your opinion and i don’t want to turn around
opinion and i don’t want to turn around
opinion and i don’t want to turn around and say honey you don’t know what you’re
and say honey you don’t know what you’re
and say honey you don’t know what you’re talking about which is strike one two
talking about which is strike one two
talking about which is strike one two and three yeah I said you’re going to be
and three yeah I said you’re going to be
and three yeah I said you’re going to be involved anyway you might as well know
involved anyway you might as well know
involved anyway you might as well know what you’re talking about okay so as an
what you’re talking about okay so as an
what you’re talking about okay so as an investor now wearing the investor hat
investor now wearing the investor hat
investor now wearing the investor hat when you see a you know couple combo
when you see a you know couple combo
when you see a you know couple combo walk in and say we’re the co-founders of
walk in and say we’re the co-founders of
walk in and say we’re the co-founders of company XYZ be honest do you have a bias
company XYZ be honest do you have a bias
company XYZ be honest do you have a bias against that or for that I think it’s
against that or for that I think it’s
against that or for that I think it’s awesome in fact we we have one company
awesome in fact we we have one company
awesome in fact we we have one company called Mongo lab where that’s the case
called Mongo lab where that’s the case
called Mongo lab where that’s the case we’ve been involved in companies with
we’ve been involved in companies with
we’ve been involved in companies with brothers and sisters I was an investor
brothers and sisters I was an investor
brothers and sisters I was an investor in my uncle’s company called the Charlie
in my uncle’s company called the Charlie
in my uncle’s company called the Charlie felled was his name the company was
felled was his name the company was
felled was his name the company was called the Feld group so we’ve had
called the Feld group so we’ve had
called the Feld group so we’ve had plenty of cases of that I think that it
plenty of cases of that I think that it
plenty of cases of that I think that it does create lots of unique challenges in
does create lots of unique challenges in
does create lots of unique challenges in the relationship and I think the
the relationship and I think the
the relationship and I think the partners have to be very aware of those
partners have to be very aware of those
partners have to be very aware of those unique challenges but I don’t have an
unique challenges but I don’t have an
unique challenges but I don’t have an allergic reaction to it all and in fact
allergic reaction to it all and in fact
allergic reaction to it all and in fact I have a lot of respect for the ability
I have a lot of respect for the ability
I have a lot of respect for the ability for two partners to work side by side on
for two partners to work side by side on
for two partners to work side by side on something they really care about so
something they really care about so
something they really care about so without getting too inside baseball but
without getting too inside baseball but
without getting too inside baseball but feel free to get into the X’s and O’s
feel free to get into the X’s and O’s
feel free to get into the X’s and O’s what if the the couple wanted to both be
what if the the couple wanted to both be
what if the the couple wanted to both be on the board or would you say that gets
on the board or would you say that gets
on the board or would you say that gets a bit
a bit
a bit too too too much or you don’t I wouldn’t
too too too much or you don’t I wouldn’t
too too too much or you don’t I wouldn’t have I personally wouldn’t care about it
have I personally wouldn’t care about it
have I personally wouldn’t care about it i think there’s plenty of investors who
i think there’s plenty of investors who
i think there’s plenty of investors who who would would have an issue would
who would would have an issue would
who would would have an issue would probably have an issue with them being
probably have an issue with them being
probably have an issue with them being in the same company i I wouldn’t have an
in the same company i I wouldn’t have an
in the same company i I wouldn’t have an issue with them both being on the board
issue with them both being on the board
issue with them both being on the board I would encourage them to think hard
I would encourage them to think hard
I would encourage them to think hard about the dynamics of that because I
about the dynamics of that because I
about the dynamics of that because I think that you want to go into the
think that you want to go into the
think that you want to go into the business relationship and the personal
business relationship and the personal
business relationship and the personal relationship in parallel and be very
relationship in parallel and be very
relationship in parallel and be very very clear about what your expectations
very clear about what your expectations
very clear about what your expectations with each other are and having some
with each other are and having some
with each other are and having some separation between you know
separation between you know
separation between you know decision-making between responsibilities
decision-making between responsibilities
decision-making between responsibilities in the context of the company can be
in the context of the company can be
in the context of the company can be helpful for some couples it’s not what
helpful for some couples it’s not what
helpful for some couples it’s not what they want but you know what happens if
they want but you know what happens if
they want but you know what happens if you have a conflict how do you deal with
you have a conflict how do you deal with
you have a conflict how do you deal with that situation and if you understand how
that situation and if you understand how
that situation and if you understand how you’re going to deal with in advance and
you’re going to deal with in advance and
you’re going to deal with in advance and you’ve talked about it that’s fine the
you’ve talked about it that’s fine the
you’ve talked about it that’s fine the mistake I think people make is that they
mistake I think people make is that they
mistake I think people make is that they don’t go through it in advance they
don’t go through it in advance they
don’t go through it in advance they don’t really figure out how to deal with
don’t really figure out how to deal with
don’t really figure out how to deal with the conflict quite true will spare my
the conflict quite true will spare my
the conflict quite true will spare my personal experiences on that for another
personal experiences on that for another
personal experiences on that for another day ok so now 2012 almost 2013 some
day ok so now 2012 almost 2013 some
day ok so now 2012 almost 2013 some would almost say that there’s a bubble
would almost say that there’s a bubble
would almost say that there’s a bubble amongst you know angel investors will
amongst you know angel investors will
amongst you know angel investors will talk about that in a second you could
talk about that in a second you could
talk about that in a second you could chime in now but I want to just go back
chime in now but I want to just go back
chime in now but I want to just go back to when you started I’m going to assume
to when you started I’m going to assume
to when you started I’m going to assume you were one of the first so-called
you were one of the first so-called
you were one of the first so-called angel investors or high prominent one so
angel investors or high prominent one so
angel investors or high prominent one so one take us through what was it that
one take us through what was it that
one take us through what was it that flick for you and said I want to start
flick for you and said I want to start
flick for you and said I want to start you know making early stage investment
you know making early stage investment
you know making early stage investment sore I’m sure now you might be more of a
sore I’m sure now you might be more of a
sore I’m sure now you might be more of a VC relative to some of the angels out
VC relative to some of the angels out
VC relative to some of the angels out there even but just take us through that
there even but just take us through that
there even but just take us through that mindset was the opportunity what was it
mindset was the opportunity what was it
mindset was the opportunity what was it visa the other stages that turned you
visa the other stages that turned you
visa the other stages that turned you off turns you on etc it’s also the
off turns you on etc it’s also the
off turns you on etc it’s also the dynamics were I i sold my first company
dynamics were I i sold my first company
dynamics were I i sold my first company in 1993 to a public company and I worked
in 1993 to a public company and I worked
in 1993 to a public company and I worked for that public company for a couple of
for that public company for a couple of
for that public company for a couple of years a memory I’m era data array and
years a memory I’m era data array and
years a memory I’m era data array and while I was working for that company I
while I was working for that company I
while I was working for that company I took most of the money that I’ve made
took most of the money that I’ve made
took most of the money that I’ve made and invested it in start-up so this is
and invested it in start-up so this is
and invested it in start-up so this is 94 to 96 i made about 40 investments in
94 to 96 i made about 40 investments in
94 to 96 i made about 40 investments in that three-year period it was a very
that three-year period it was a very
that three-year period it was a very good time to be an angel investor
good time to be an angel investor
good time to be an angel investor because it was the beginning of the rise
because it was the beginning of the rise
because it was the beginning of the rise of the commercial internet and some of
of the commercial internet and some of
of the commercial internet and some of the companies that i invested in
the companies that i invested in
the companies that i invested in wer were big high flyers and net genesis
wer were big high flyers and net genesis
wer were big high flyers and net genesis and critical path or two that a lot of
and critical path or two that a lot of
and critical path or two that a lot of people in the internet we may remember
people in the internet we may remember
people in the internet we may remember as an early investor in harmonics which
as an early investor in harmonics which
as an early investor in harmonics which were the guys that created that our hero
were the guys that created that our hero
were the guys that created that our hero and subsequently rock band for me I was
and subsequently rock band for me I was
and subsequently rock band for me I was relatively young I was 28 when I sold my
relatively young I was 28 when I sold my
relatively young I was 28 when I sold my first company I didn’t really know what
first company I didn’t really know what
first company I didn’t really know what I wanted to do next whether it was start
I wanted to do next whether it was start
I wanted to do next whether it was start a company and be CEO of a company or be
a company and be CEO of a company or be
a company and be CEO of a company or be involved in a bunch of companies and so
involved in a bunch of companies and so
involved in a bunch of companies and so I used this investing as a way to get
I used this investing as a way to get
I used this investing as a way to get involved in a bunch of startups while I
involved in a bunch of startups while I
involved in a bunch of startups while I was working for a Marid ADA in a senior
was working for a Marid ADA in a senior
was working for a Marid ADA in a senior role and when i left the marrow data I
role and when i left the marrow data I
role and when i left the marrow data I just continued this investing dynamic
just continued this investing dynamic
just continued this investing dynamic and as part of that I helped start some
and as part of that I helped start some
and as part of that I helped start some of the company so I looked like a
of the company so I looked like a
of the company so I looked like a founding investor or chairman or
founding investor or chairman or
founding investor or chairman or whatever you want to call it in a
whatever you want to call it in a
whatever you want to call it in a handful of them I really love the early
handful of them I really love the early
handful of them I really love the early stages of a company and to this day I
stages of a company and to this day I
stages of a company and to this day I still love the early stages of a company
still love the early stages of a company
still love the early stages of a company so I’ve never viewed myself as an
so I’ve never viewed myself as an
so I’ve never viewed myself as an investor where I’m simply trying to
investor where I’m simply trying to
investor where I’m simply trying to invest in the companies but rather I
invest in the companies but rather I
invest in the companies but rather I viewed myself as somebody who engages
viewed myself as somebody who engages
viewed myself as somebody who engages very very deeply with entrepreneurs in
very very deeply with entrepreneurs in
very very deeply with entrepreneurs in an investor role often at very early
an investor role often at very early
an investor role often at very early stages of the company’s life I also get
stages of the company’s life I also get
stages of the company’s life I also get to a place where as the companies become
to a place where as the companies become
to a place where as the companies become mature businesses I become less
mature businesses I become less
mature businesses I become less interested my the things that turn me on
interested my the things that turn me on
interested my the things that turn me on them I’m a good board member of a larger
them I’m a good board member of a larger
them I’m a good board member of a larger company but it’s not as satisfying to me
company but it’s not as satisfying to me
company but it’s not as satisfying to me and in a lot of ways it’s not really
and in a lot of ways it’s not really
and in a lot of ways it’s not really playing to my own strengths and so I’ve
playing to my own strengths and so I’ve
playing to my own strengths and so I’ve been thoughtful about that as it’s
been thoughtful about that as it’s
been thoughtful about that as it’s evolved over time what’s your
evolved over time what’s your
evolved over time what’s your recommendation should an entrepreneur go
recommendation should an entrepreneur go
recommendation should an entrepreneur go out and seek investment from the get-go
out and seek investment from the get-go
out and seek investment from the get-go or is it you need to first even
or is it you need to first even
or is it you need to first even determine if your venture is I think it
determine if your venture is I think it
determine if your venture is I think it totally depends on the entrepreneur and
totally depends on the entrepreneur and
totally depends on the entrepreneur and the dynamics and desires of the
the dynamics and desires of the
the dynamics and desires of the entrepreneur my personal philosophy is
entrepreneur my personal philosophy is
entrepreneur my personal philosophy is you should make as much progress with as
you should make as much progress with as
you should make as much progress with as little money as you need is possible to
little money as you need is possible to
little money as you need is possible to get to the next level that doesn’t mean
get to the next level that doesn’t mean
get to the next level that doesn’t mean zero that means as little as you think
zero that means as little as you think
zero that means as little as you think you need and the neat thing is you get
you need and the neat thing is you get
you need and the neat thing is you get to define all the parameters you get to
to define all the parameters you get to
to define all the parameters you get to define how much you need you get to
define how much you need you get to
define how much you need you get to define what progress is right i mean
define what progress is right i mean
define what progress is right i mean that’s that’s for the entrepreneur to do
that’s that’s for the entrepreneur to do
that’s that’s for the entrepreneur to do i think the mistake a lot of
i think the mistake a lot of
i think the mistake a lot of entrepreneurs make is this idea i have
entrepreneurs make is this idea i have
entrepreneurs make is this idea i have to raise this money to go make this
to raise this money to go make this
to raise this money to go make this progress and that’s never true i mean my
progress and that’s never true i mean my
progress and that’s never true i mean my first company was started with 10 bucks
first company was started with 10 bucks
first company was started with 10 bucks there are many many examples of
there are many many examples of
there are many many examples of companies that were bootstrap businesses
companies that were bootstrap businesses
companies that were bootstrap businesses that didn’t ever raise any money what
that didn’t ever raise any money what
that didn’t ever raise any money what did you spend the 10 bucks
did you spend the 10 bucks
did you spend the 10 bucks the URL no no we had last week we had 10
the URL no no we had last week we had 10
the URL no no we had last week we had 10 shares of stock so I got six my partner
shares of stock so I got six my partner
shares of stock so I got six my partner got three and my dad got one I mean we
got three and my dad got one I mean we
got three and my dad got one I mean we needed a little bit you know you we
needed a little bit you know you we
needed a little bit you know you we could have done a dollar and done 10
could have done a dollar and done 10
could have done a dollar and done 10 sets 30 sets and 60 sets right we just
sets 30 sets and 60 sets right we just
sets 30 sets and 60 sets right we just need a mechanism for sharing the stock
need a mechanism for sharing the stock
need a mechanism for sharing the stock but but that’s that’s the the struggle
but but that’s that’s the the struggle
but but that’s that’s the the struggle of entrepreneurs getting confused about
of entrepreneurs getting confused about
of entrepreneurs getting confused about what’s important and recognizing that
what’s important and recognizing that
what’s important and recognizing that the more progress you make the easier it
the more progress you make the easier it
the more progress you make the easier it is to raise money and frankly the more
is to raise money and frankly the more
is to raise money and frankly the more the company you keep all right we’re
the company you keep all right we’re
the company you keep all right we’re going to take a short break we’re
going to take a short break we’re
going to take a short break we’re talking to Brad Feld we’re going to come
talking to Brad Feld we’re going to come
talking to Brad Feld we’re going to come back and ask them what are some of the
back and ask them what are some of the
back and ask them what are some of the more successful entrepreneurs share in
more successful entrepreneurs share in
more successful entrepreneurs share in terms of traits and what are some of the
terms of traits and what are some of the
terms of traits and what are some of the more unsuccessful entrepreneur shows
more unsuccessful entrepreneur shows
more unsuccessful entrepreneur shows traits and whatnot we’ll be right back
”
Be First to Comment