VC assumption - more capital accelerates best companies to greater success. Unfortunately, the data says otherwise techcrunch.com/2016/10/15/ov…

We’re Making Massachusetts Better ✨ Tune in to the 2026 State of the Commonwealth Address tomorrow at 7pm at mass.gov/SOTC.

Honored to welcome EOED Secretary Eric Paley to our Annual Meeting for a dynamic discussion on housing, AI, venture capital & more. We also celebrated Jon Bernstein as our new Chair—thank you to Lisa Murray for her incredible leadership! #MAPoli #EconDev 📸cred: @FlavioDonato82

Years ago @epaley put out a post that was spot on, called "venture is a hell of a drug"... I finally got around to writing my own follow up - link below. TLDR: take powerful drugs after you get a diagnosis from someone you can trust...

Talking Too Loud just turned the volume way up. 🔊 Two @signalawards coming home to Wistia! 🏆🏆 🥇 Best Individual Episode: “Demystifying Venture Capital” w/ @epaley 🥉 Best Branded Podcast Series Thanks to everyone who helped us turn curiosity into something worth celebrating. wi.st/48zWeHB

I’ve been fortunate to know @epaley for almost 25 years. First as a classmate, then as his seed investor, and for the last 16 years as a business partner. Today, I add “proud constituent” and “devoted advocate” to our list of affiliations, though none will ever outweigh “friend.” Eric has chosen to step away from @fcollective to assume the role of Secretary of Economic Development for the Commonwealth of Massachusetts. Anyone who has ever met Eric will instantly know why he is an inspired choice and a perfect fit. He has an exceptional mind for business but is also one of the most ethically centered people I’ve ever met. I first encountered Eric during our orientation at Harvard Business School. We debated case studies vigorously, played squash competitively (he whipped me), and became close friends. Before we cofounded Founder Collective, I had the good fortune to seed-invest in Brontes, the 3D dental scanning company that Eric co-founded in Boston, together with FC Managing Partner @micahjay1 . I distinctly recall feeling that it didn’t matter to me what they would build; I just wanted to be involved with founders of this caliber. I always prefer to invest in the “who” over the “what” and never have I been more validated than my investment in Eric and Micah. After successfully selling Brontes to 3M, the stars aligned once again for us. Eric and I explored setting up a venture fund that would seek to support tech founders at the very earliest stages of their journey. It wasn’t an easy decision. The 2008 Global Financial Crisis made raising a fund at that moment a challenging proposition. However, the opportunity to work with Eric was enough of a catalyst for me to relocate my family to Boston from halfway around the world. We thereafter took the time to work fastidiously through co-managing a fund. This included facing the friction of working as equal partners and celebrating our individual strengths. We learned how to respectfully test each other’s convictions and to celebrate when events validated them. This conviction has influenced a generation of entrepreneurs and startups globally – including Uber, The Trade Desk, and Coupang, to name a few – as well as five $1B startups in Massachusetts: WHOOP, Formlabs, Desktop Metal, Drift, and PillPack. Individual achievements celebrated together taste so much sweeter. Micah joined us a few years later. Partnership augmentation is challenging when one cares deeply about culture and mutual respect. We have never taken for granted the privilege of working with close friends. Eric has a knack for separating work and personal, which I so admire. He can strongly disagree with a professional issue but show up for a family dinner and not mention a word of it. I am beyond proud of Eric’s appointment, and I simultaneously join the line of those who will miss his daily presence and wisdom very much. My advice is to stock up on hugs. As investors, we back founders at the early stage, but we have responsibilities that last decades. I recall that after a portfolio company went public, we debated whether to distribute shares or cash to our patient investors. It was a tricky decision with significant implications. We had already consulted some of the most intelligent people we knew, and I suggested we ask a few more. Eric turned to me and said, “We are the adults.” That’s shorthand in our partnership; we can ask for advice endlessly, but at some point, we have to make the call and live with the consequences. Eric values every perspective, but he never forgets where responsibility lies and gladly accepts it – to all of our benefit. While we have been blessed with investment returns and consider ourselves privileged to work with this special team, it is the principles, values, and standards that Eric has infused into Founder Collective that will most endure. At Founder Collective, putting founders first is a principle structurally designed into the fund and grounded in deep respect and firsthand knowledge of how hard it is to build something that lasts. One of my favorite business aphorisms is, “whoever builds, leads,” and Eric is a born builder. His colleagues know he is phenomenally talented and I’m sure locals would agree that he is “wicked smaht.” But it is his commitment to ethics and morality that set him apart in an industry filled with straight-A students. I’ve lost count of the times Eric has backed founders – against his short-term financial interests – when other investors sought to take advantage of them. True public servants seem to be frustratingly few and far between, but Eric always puts values ahead of valuations. Put simply, Eric is a “mensch.” Now that this news is public, I’m heading off to buy Massachusetts bonds and grab lunch with my friend before duties to the Commonwealth monopolize his calendar.

My Next Chapter - Team Massachusetts I’m honored to share that Governor Healey has appointed me to be the Massachusetts Secretary of Economic Development. This is not a sentence I ever imagined I’d be writing. I’ve spent my career as an entrepreneur and venture capitalist. Although I studied Government as an undergraduate and interned long ago in Congress, I thought my career had permanently diverged into the private sector. And yet, I’ve long had a desire to serve and play a role in making a difference for my community. Accepting this appointment means stepping away from a position that, for 16 remarkable years, has felt nearly ideal. At Founder Collective, I’ve had the privilege of working alongside my closest friends and an exceptional team. Every day, I’m inspired by the brilliance and resilience of the founders we support—visionaries building technology to rethink our world. Founder Collective has become well known and respected for our mission-driven approach to venture capital, which puts founders ahead of funders and obsessively focuses on how to drive founder alignment as we partner with companies at the earliest stage. It was always my assumption that Founder Collective would be my professional home until retirement many years in the future. While I transition, I have absolute faith that Founder Collective’s vital mission will continue to thrive long beyond my time, capably driven by my phenomenal partners. My initial reaction to any career change was an emphatic 'no.' I’ve spent the last 26 years honing my craft and the past 16 years crafting a special institution. I simply have too many commitments and way too fortunate a position to walk away. But then I couldn’t sleep that night. My mind raced with the profound implications of an opportunity to make an impact on a scale I never envisioned possible. I’ve watched and admired how Secretary Hao has worked with Governor Healey to make Massachusetts a better place to do business, to live, and to innovate. I simply couldn’t say no to the call to step up to a much broader platform and help improve the community that I love. The inherent magic of startups lies in their ability to identify seemingly small, targeted products that, when skillfully designed, can scale to generate immense impact. I’m fascinated by the prospect of applying this entrepreneurial mindset to the state economy. While I have much to learn about the diverse economic pockets across our Commonwealth, my startup experience underscores the need to boldly experiment with game-changing interventions, then rigorously scale what unequivocally works. Applying this mindset to the role is wide ranging: from exploring how we can further scale our already incredible life sciences sector, to simultaneously engaging with leaders of our small towns and gateway cities to uncover the specific initiatives that will catalyze their local economic goals. It’s commonplace, even expected, to harbor cynicism toward government. I confess, I’ve shared some of that hesitation. Balancing diverse public interests is undeniably a challenging, often slow process. Yet, my initial exposure to the Healey-Driscoll Administration has been profoundly reassuring. I’ve been struck by the work ethic, dedication to integrity, and commitment to service of the people I’ve met thus far. I am inspired by the example set by our Governor and Lt. Governor, and I am eager to meet my future collaborators—those who are working hard to drive our state forward. I have now lived half my life in the Commonwealth of Massachusetts. I cannot envision a more exceptional place to raise a family, educate our children, foster intellectual exchange, and collaboratively define our forward-looking community. This dynamic state has enriched my life immeasurably, and now, it is my time to reciprocate. I am ready to play my part in designing our collective future. I’m under no illusion that this journey will be easy; we face formidable headwinds. Yet, this profound responsibility only intensifies my motivation to step up to the challenge. To my partners, our team, and the founders who work tirelessly to invent the future — I’m profoundly grateful. I have a lump in my throat knowing that I won’t be alongside all of you through all of your exciting chapters ahead. Thank you to the broader innovation ecosystem both in Massachusetts and nationally that has embraced and celebrated our unique approach to venture capital and provided an environment that makes it possible for innovators to take the risk of trying to birth dreams into reality. Secretary Hao, I’m so appreciative for your leadership and example - I know I have huge shoes to fill. I am deeply honored and grateful to Governor Healey and Lt. Governor Driscol for entrusting me with the critical mission of advancing the Commonwealth’s economic agenda. Most of all, thank you, Massachusetts, for being such an incredible home and platform to build a life. I will work my hardest to drive forward that promise to our fellow citizens.

Sam Harris sure has a way with words. So clear and yet so many can’t see. samharris.substack.com/p/lit…

Precisely the problem!

We're hiring MBA associates in Harvard Sq. and SoHo – join us! linkedin.com/pulse/were-hiri…

Yes SHE Can!

ShieldAI drones demonstrated they can withstand Russian EW countermeasures wsj.com/world/europe/america…

"Trump thinks this economy is in the toilet. In fact, under Joe Biden, it grew faster than it did under Donald Trump." @SteveRattner on.msnbc.com/48vL1pB

Unicorn culture killed tinkering

The American Economy is doing phenomenally, especially compared to the rest of the world.

👇🏾👇🏾👇🏾

From a start-up perspective, Product-Market fit isn't just a binary condition around whether customers want the product. IMHO it includes a) whether enough $ can be extracted from the product to warrant engineering and GTM costs, b) whether there's a plausible GTM motion and c) are there enough customers for a and b.

A cartoon by @PaulNoth. #NewYorkerCartoons

One of the nicest guys in the sector (and by far the richest), my friend Jeff Green, accepting a well-deserved Industry Changemaker Award at 212NYC. Congrats Jeff!

So cool!