By Boris Glants, TurnKey Co-Founder and CTO
Last week I was reading Andy Kessler’s Inside View article about the end of crypto’s hype cycle and was struck by his insight:
“Every self-respecting venture capitalist surely knows his big paydays come during hype cycles.”
This truth is deeply uncomfortable.
It’s uncomfortable not only because Andy is right.
It’s uncomfortable because the logical conclusion from this statement is that VCs should only invest in entrepreneurs who can generate the most hype.
And yet, deep in my heart, I believe that Warren Buffet’s approach to business still wins: just build great businesses with a good return on capital employed and growing cash flow.
The hype cycle is still just about price and not about value.
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It took me more than 35 years to figure out how to do the best work I could possibly do.
mile 13I learned to dive in head first into things I know nothing about (even if it risked my life).
mile 12We want a role model, not a leader who mocks us or tells us we need to toughen up.
mile 11I knew nothing about business. I was twenty-two years old, with questionable ethical judgment and barely a year of real-world programing experience…
mile 10