I’m no Peyton Manning
Several years ago, we acquired a company for one of our clients. We had just finished a day of onsite due diligence to finalize our bid, and over dinner, one of the owners suggested the valuation in our IOI was...
Theory of the Firm
In August I wrote about how the nature of work is changing. Firms exist when transaction costs between actors are too high to be efficiently directed by market forces. The gig economy has reset transaction...
Gig Economy
The nature of work is changing rapidly. Everyone by now has heard the term “gig economy,” but few understand what it really means. The contract between people, and between firms is changing...
The Rule of 50
In software and SaaS, it’s well understood that growth is rewarded with high valuations, and high profile exits. However, too often, this results in a “growth at any cost” mentality. For the best software...