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Strike When The Iron Is Hot1


I introduced a young friend of one of my children to a colleague in the tech business last month. The young friend took a day to reply to the email introduction and by then the introduction had gone cold. Happily the introduction resurfaced this week and something may still come of it. That story reminds me of another. It was 1996 and Flatiron Partners had just relocated to the Flatiron district of NYC (we really had no choice but to locate there). A friend invited me to lunch at Gramercy Tavern which had opened a couple years previously and was one of the most happening restaurants in NYC. We sat down to lunch and Danny Meyer, the owner of Gramercy Tavern, comes into the restaurant and starts working the lunch time crowd. When he gets to our table my friend says to Danny “please meet Fred Wilson, founder of Flatiron Partners who has just relocated his business to the neighborhood.” Danny reached into his pocket, took out his business card, and said to me “Welcome to the neighborhood. If you ever need a table please give me a call and we will take care of you.” That night when I got home I told the Gotham Gal “I met Danny Meyer today and he gave me his card and said I could call him whenever I need a table.” To which she replied “go there for lunch tomorrow.” And I told her “I don’t have a lunch tomorrow.” She said “Get one. He will remember who you are tomorrow but won’t next month.” So I got a lunch, called Danny, got a table, and he again said hello when he worked the lunch crowd (something he used to do whenever he was in town). I became friends with Danny and still call him when I need a table at one of his restaurants and can’t get one on Resy. Striking while the iron is hot is so important. I often thing of the Gotham Gal saying “get one.” It was absolutely the right thing to do and always is. https://avc.com/2018/08/strike-when-the-iron-is-hot/

Capitulation?1


One of the things I have disliked the most about the crypto sector is the idea that people should “hodl” or “hold on for dear life.” I have written many times here at AVC that one should take profits when they are available and diversify an investment portfolio. The idea that an investor should hold on no matter what has always seemed ridiculous to me. Now, the crypto markets are in the eighth month of a long and painful bear market and we are starting to see some signs of capitulation, particularly in the assets that went up the most last year. Whether this is the long-awaited capitulation of the HODL crowd or not, I can’t say. But capitulation would be a good thing for the crypto markets, releasing assets into the market that until now have been locked up by long-term holders. Until then it is hard to get excited about buying anything in crypto. https://avc.com/2018/08/capitulation/

Capitulation?1


One of the things I have disliked the most about the crypto sector is the idea that people should “hodl” or “hold on for dear life.” I have written many times here at AVC that one should take profits when they are available and diversify an investment portfolio. The idea that an investor should hold on no matter what has always seemed ridiculous to me. Now, the crypto markets are in the eighth month of a long and painful bear market and we are starting to see some signs of capitulation, particularly in the assets that went up the most last year. Whether this is the long-awaited capitulation of the HODL crowd or not, I can’t say. But capitulation would be a good thing for the crypto markets, releasing assets into the market that until now have been locked up by long-term holders. Until then it is hard to get excited about buying anything in crypto. https://avc.com/2018/08/capitulation/

Capitulation?


One of the things I have disliked the most about the crypto sector is the idea that people should “hodl” or “hold on for dear life.” I have written many times here at AVC that one should take profits when they are available and diversify an investment portfolio. The idea that an investor should hold on no matter what has always seemed ridiculous to me. Now, the crypto markets are in the eighth month of a long and painful bear market and we are starting to see some signs of capitulation, particularly in the assets that went up the most last year. Whether this is the long-awaited capitulation of the HODL crowd or not, I can’t say. But capitulation would be a good thing for the crypto markets, releasing assets into the market that until now have been locked up by long-term holders. Until then it is hard to get excited about buying anything in crypto. https://avc.com/2018/08/capitulation/

Capitulation?1


One of the things I have disliked the most about the crypto sector is the idea that people should “hodl” or “hold on for dear life.” I have written many times here at AVC that one should take profits when they are available and diversify an investment portfolio. The idea that an investor should hold on no matter what has always seemed ridiculous to me. Now, the crypto markets are in the eighth month of a long and painful bear market and we are starting to see some signs of capitulation, particularly in the assets that went up the most last year. Whether this is the long-awaited capitulation of the HODL crowd or not, I can’t say. But capitulation would be a good thing for the crypto markets, releasing assets into the market that until now have been locked up by long-term holders. Until then it is hard to get excited about buying anything in crypto. https://avc.com/2018/08/capitulation/