Former Venture Capitalist

I've been putting off posting this but was somewhat outed in a quote at the end of the New York Times Google piece today. First my news: I resigned as a general partner of August Capital last summer and have been in a transition mode as venture partner at the firm ever since. The parting was amicable and was much more about what I want to do with my life than anything else. I ultimately realized that I wanted to be back on the "other side of the table" again.

That, needless to say, has a lot to do with the significant decrease in my VentureBlog posting in the last few months. I've struggled with the question of whether to keep posting here or not. Should the site remain one for working venture investors or is venture more a state of mind than a job. I can't say I know the answer yet.

There is no question to me that my five years as an investor changed the way I think and how I look at start-ups. I pondered the idea of being a "former venture capitalist" (as the Times story called me) and wasn't sure that's possible. My time as an investor has unquestionably given me new insight into the entrepreneurial process, many things that a similar amount of time in start-up land had never taught me.

At the same time, I have to admit that the investor part was always the hardest for me to learn. At the risk of being overly reductionist, venture investing has two simple responsibilities: the buying and selling part (i.e., investor) and the advising part (i.e., director). I always enjoyed, and was reasonably good at, being a director. But being an investor, especially in the post-bubble period of lots of venture capital chasing a very small number of good potential investments, was something I increasingly lost interest in.

I don't know what's next for me but have started to look at opportunities. I will certainly post something when I officially sign up some place. It's a safe bet, given my background and passion for the space that I will end up at a consumer facing internet company of some sort. And I plan on continuing to contribute to VentureBlog as I have thoughts that are appropriate for the site, although inevitably they will continue to be fewer and further between.