A VC - musings of a VC in NYC
About This Show
I am a VC. I have been since 1986. I help people start and build technology companies. I do it in NYC, which isn't the easiest place to build technology companies, but it's getting better.
I love my work. I am the Managing Partner of two venture capital firms, Flatiron Partners and Union Square Ventures.
I also am a husband and a father of 3 kids. I do that in NYC too. And it isn't the easiest place to raise a family either. But it's getting better too. I love my family more than my work.
I also love music, art, yoga, biking, skiing, and golf. That's a lot of interests for a guy who works 70 hours a week and loves his family. But I manage to make it work.
Most Recent Episode
A Letter To Senator Manchin
Feb 27 14
Senator Joe Manchin wrote a public letter to financial regulators asking them to âtake appropriate action to limit the abilities of this highly unstable currency.â The letter in its entirety is here.What follows is a letter from me to the Senator.Bitcoin is a powerful new technology platform that, like the Internet itself, is not controlled by anyone or any company. It is a globally distributed network of computers that allow financial transactions to flow seamlessly and at a much greater efficiency than current methods. A bitcoin is the store of value in the system and it acts a bit like a currency or a commodity. This store of value is actively traded for fiat currency at a number of exchanges around the world.Bitcoin is already regulated in the US and it is becoming more regulated every day. And the regulatory environment in the US has dampened the amount of innovation around Bitcoin that has developed here in the US. All the major Bitcoin exchanges have been built outside of the US and a significant amount of the venture capital investment in the Bitcoin ecosystem is happening outside of the US. This is a direct response to the stricter regulatory oversight and requirements here in the US versus other countries.The volatility of Bitcoin relative to fiat currencies should be expected in a nascent and emerging technology. What is amazing, however, is its resiliency in the face of massive scrutiny, company failures, fraud, theft, and a host of other challenges it faces as it becomes mainstream and mature. The value of a Bitcoin at this stage of its development should move up and down more like a hot technology stock than a stable currency. In time, as Bitcoinâs market value grows and transactional activityÂ and liquidity develops, the value will stabilize and act more like a traditional currency.When something as new and as different as Bitcoin emerges, it is tempting to want to âput the Genie back into the bottleâ and protect ourselves from it. But thankfully the US did not do that with the Internet. The impact of the commercial Internet on the US economy and our society as a whole has been massive and overwhelming
Rated 5 out of
Great way to listen to Fred's musings
If you are a subscriber to Fred's blog (great insights into the venture capital scene), there is no better way to follow that listen on Stitcher!
Date published: 2013-12-03