Yesterday I had the pleasure of joining Fox Business’ Mornings with Maria. Unfortunately, my friend Maria Bartiromo was absent from the show. She is currently covering the SALT conference in Las Vegas. Fortunately, Dagen McDowell held it down for Maria…and did a great job – as usual!
Republican Pollster Lee Carter and I spoke about tech companies and how they need to reevaluate some of their lavish perks in an effort to cut costs. Being a VC fund manager, it is a requirement for me to know exactly how my portfolio companies are spending their capital. I never write a check and hope for the best. I believe in helping companies expand and progress. I do this by building them, networking them, and structuring them. I love helping founders create amazing products that could potentially change the world.
Many new startups are mistreating the capital they raise. They are spending money on foolish things such high end furniture, massive ping pong tables, and expensive perks for employees. Sure… Google, Apple, and Facebook do it…but they are public companies worth well over $300 billion each. They did their time at the bottom; they have the excess money to spend. Young startups should be more focused on building a good business and strategizing on future growth.
Please take a look at the video…and hit me back with any comments.
Until next time-