FU (and your rights) Softbank! But will you please fund us a bit more, please!

In today’s news: Ola says fuck you to its biggest investor.

… a person close to Ola’s board said the co-founders and some smaller investors made the changes to specifically put restrictions on SoftBank.

Ola’s founders have strengthened their rights relative to SoftBank despite the fact that SoftBank has recently increased its stake in the company after pumping an additional $250 million into Ola in November.

SoftBank owns nearly 40% of Ola, which also counts Matrix Partners, Tiger Global, Sequoia Capital, Steadview Capital, Accel Partners and others as investors.

Snapdeal effect? Ola restricts SoftBank rights, strengthens those of founders, May 18, 2017, at 06:34 PM

Also, in today’s news: Ola finding it hard to raise more funding

It is looking for more but funds have been tough to come by as potential investors have backed off from putting cash into an Uber rival in a sector that is yet to prove it can deliver profits.

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Product-market strategy & politics

“Dockless bike shares have found a niche where they don’t have powerful enemies,”

Uber for bikes: how ‘dockless’ cycles flooded China – and are heading overseas, April 24, 2017 at 10:13AM

The only people who seem to be upset by the new share bikes, however, are illegal motorbike taxi drivers – who are missing out on business from metro stations late at night – and security guards, who don’t like mess on the pavement outside their buildings. There is friction, but the groups that are upset aren’t powerful enough. So the government doesn’t care.

A rule for Bitcoin investing

The rule of thumb when it comes to fat protocol investing is this:

The market cap of the protocol always grows faster than the combined value of the applications built on top

Joel Monegro, in Bitcoin doesn’t care what Silicon Valley thinks, January 7, 2017 at 07:49PM

VC – the visible bit vs the hard bit

Most people think that VC is all about the initial portfolio construction, selecting the companies to invest in.

…the other half. That includes actively managing the portfolio (board work, adding value, etc), it includes allocating capital to the portfolio in follow-on rounds, and it includes working to get exits. And it is that second part that is the harder part to learn how to do.

Reserves – AVC, January 8, 2017 at 01:49PM

Products, customers, and decisions

It means understanding the product, understanding why our customers are using us and even more important why they are not using us or are not happy.

Every engineer is a product person, January 4, 2017 at 05:12PM

Stuff like this is why I admire TransferWise, as a company, so much. Continue reading Products, customers, and decisions