COVID-19 will Kill a Ton of Startups (or So it Will Seem)

Yes, I’m still predicting-away, though the pandemic is having some impact on the direction in which this narrative is going. Today’s column on startups and venture capital, for example, wasn’t even on my original list of predictions. Just as the financial markets will use this catastrophe for a reset, so, too, will Sand Hill Road, which has pretty much stopped investing and is now deciding, instead, who to kill?

The psychology of venture capital doesn’t work the way most people think. That’s because it is an industry based on failure: most startups — the vast majority — fail. That means most VC investment decisions are wrong. There is simply no way of […]

Not dead yet! What Bob Cringely has been up to…

A few days ago I tweeted something and a reader reacted, saying about Cringely, “I thought he was dead!” Not dead yet, but I should probably explain my disappearance a few months ago from life in print. I’ve just been too busy working for a living. How does a 67-year-old hack with three minor children recover from going blind, losing his home and business in a horrible fire (like 2,000 others, we are still fighting with insurance companies), while appeasing an angry crowd of Kickstarter supporters armed with pitchforks and shovels? In my case, I went looking for venture money to recapitalize MineServer and I simultaneously started a satellite launch company to fund […]

Two thirds done, yet still writing predictions…

I was born 66 years ago today, which makes me old enough to know better, though some might disagree. Sixty-six is retirement age in the U.S. Social Security system and I am all signed-up. Retirement has been beckoning a bit, which might explain my recent absence from this rag. But no, I’m not retired at all and that means I owe you something of an update, plus of course my predictions for 2019.

First the Mineserver jihad. I’ve been quietly trying to find an investor to help revive this great little business started with my three sons but lost to my blindness last year combined with the Tubbs fire that cost us […]

Moon Express gets FAA “approval” for Moon mission

me logoLast week Moon Express, a contender for the Google Lunar X-Prize (GLXP), announced that the company had received interagency approval from the White House, Federal Aviation Administration (FAA), Department of State and other U.S. government agencies “for a maiden flight of its robotic spacecraft onto the Moon’s surface to make the first private landing on the Moon.” This heady announcement got a lot of press including this story I am linking to because it was in the New York Times, the USA’s so-called paper of record. If the Times writes “gets approval to put robotic lander on the Moon” it must be true. Only this story isn’t true. Yes, […]

Equity crowdfunding finally arrives May 15th: curb your enthusiasm

equitycrowdfundingBack in the spring of 2012 Congress passed the Jumpstart Our Business Startups Act (the JOBS Act) to make it easier for small companies to raise capital. The Act recognized that nearly all job creation in the U.S. economy comes from new businesses and attempted to accelerate startups by creating whole new ways to fund them. The Act required the United States Securities and Exchange Commission (SEC) by the end of 2012 to come up with regulations to enable the centerpiece of the Act, equity crowd funding, which would allow any legal U.S. resident to become a venture capitalist. But the regulations weren’t finished by the end of 2012. They weren’t […]