On Monday, I will join Brad Burnham and Fred Wilson as an analyst at Union Square Ventures.  This is the story of how it happened...

Last September, Marcy popped her head in my office and asked me to come with her to a fundraising meeting with a new group. Being a large and well known program that has been in the asset class 25 years, we tend to see A LOT of groups passing through. And it isn’t just because we’re big… the new funds we see don’t even need that much money... at least not necessarily in the size that we have the capability of putting out. They know we’re sticky money if you meet our bar, which is pretty high. We are committed to the asset class and while its tough to get us to give you money, when we do, we’re in it for the long term.

Anyway, I was pretty busy that day, and almost didn't go, but I know how important it is to have a colleague with you when you see a new group.  Sometimes, you need to bounce ideas off of each other and get feedback to really get a good assessment.  So I went, and that was the first time I met Brad and Fred--when they were fundraising for Union Square Ventures.  Well, actually, it was the first time I met Fred in person.  It turns out I had been reading his blog for a while, but, to be honest, I'm reallly bad at associating people with the blogs they write.  Had he introduced himself as "A VC" I would have realized it.  I'm just as bad with AIM screenames.  I kept thinking, "How do I know this guy?"  I thought maybe it was just because he looked like Gary Sinese.  Only after the meeting when I went back to my Feed Demon did I put two and two together.

There are a lot of "me, too" emerging funds out there.  Just as there were too many funds popping up in '99 and '00, there are way too many people out there raising money, and to be honest, all their stories sound the same.  If I had a dime for every fund with a few guys with short track records and one or two hits that weren't even really their deals, and portfolios sitting at cost, which makes them top quartile for the vintage...  well, you know how it goes. 

Brad and Fred were different.  They had track records going back over ten years.  They had a story--one that made a lot of sense to me.  They weren't going to do "chips and routers"... they're were enough people doing that out there.  They were going to do applications of interesting technologies--in New York of all places.  I remember at the time I was noodling all the blogging going on about the "web as a platform" and I was already convinced that the real money was going to be made building on top of all the infrastructure that had already been laid out.  I had also been working on due diligence for Ignition.  They, too, were extolling the virtues of consumer services and the new layer of opportunities being created, and I really respect their knowledge and insight.  Plus, it all just sounded very reasonable, and I am, if nothing else, a reasonable guy.  I like buying into ideas that make sense to someone like me who might not have a degree in electrical engineering.

Very quickly, USV was down to its last $15 million (they were raising 125) and about to close.  Marcy and I really liked them and so we fanagled our way back into a window to check out the fund.  At the same time, we were going through a strategy review on our philosophy and approach to emerging funds. 

I've been joking around that we didn't come through with a commitment, so Brad and Fred spitefully took an analyst instead.  The truth is, we liked USV, and want to keep track of them over time, but we don't usually do first time funds for a variety of reasons.  I personally never really bought into the "first time fund" idea for people with extensive track records like they had, but there is an added element of risk when you have two people working day in and day out together for the first time.  That isn't to say that veteran teams don't tire of each other and break up as well.  Partnership dynamics are a tough thing to diligence and probably impossible to predict, so you thoughtfully decide where you want to play and you hope it all works out.

At the same time, as you well know, I was thinking about grad school.  I was looking at the future and trying to figure out what was going to be the best route for me going forward.  GM was a fantastic experience for me--all eight years of it, but when you're 25, and you're working with one of the best teams of experienced partner level people in the business, there is a limit to how fast and how far you can move up in responsibility. 

After meeting with Brad and Fred and doing due diligence, I had continued talking to them about the space.  One day, as I was thinking about potential career paths,  I dropped Fred a question over e-mail:

"Out of curiousity, what is the profile of the type of candidate a smaller VC firm  would look for in an analyst/associate role?  What would role would they play in the firm?  I'm filling out all these grad school essays and its just making me think about career options from this point forward in general."

Fred's response:

Would you consider a one/two year stint as an analyst at Union Square before
going to B School?

If you are interested, let me know

Admittedly, I wasn't really prepared for that.  You have to understand what a mainstay GM had been in my life, and while I was still having a great experience there, it was the third time in a couple of months that I had been face to face with the prospect of actually leaving.  First was grad school, and second was the possibility of applying for Liz's position at Fordham's career office.  I took this one the most seriously, though.  Life was trying to tell me something and, once again, I fell into a fantastic opportunity.  I have a great track record with random chance.  :) 

So, Brad, Fred, and I got together and started talking.  I think it was beneficial for them to have almost a year of my blogging to help in their initial due diligence.  (That's what helped clue me in to the idea that blogging could act as a career tool, as well.)  My first interview was like a fourth interview and we went straight into pretty substantive discussion.  They were direct, and honest, and I appreciated that.

So we kept talking as they finished their fundraising and, after the holidays, it became obvious that this was all coming to a head.  I have to say, they were very thorough in their due diligence.  We met again right before they started going through my reference list and that's what sparked this post. 

Perhaps Fred will blog more about what they thought they were getting when they hired me, but I doubt it, because I have yet to directly appear on his blog.  I did get referred to once, though.   That was special...  seriously!  (He's like a blogging rock star!)

Anyway, I'm looking forward to this new experience.  I've been at GM eight years now, four interning in various groups and four fulltime in private equity.  When I first started, it came out of a high school internship.  We worked for a free lunch, and then, in the summer, I asked to be brought on as a paid intern.  I remember getting my offer--a fixed rate per day--and then calculating whether or not that offer was better than my hourly rate in the mailroom of Waterhouse, where I had worked the two previous summers.  I was 17, and I was more concerned with money in my pocket than the upside potential of working for the largest corporate pension fund in the country versus the mailroom of a brokerage firm that was being bought out by a Canadian bank.  Good thing my offer at GM was better.  I might still be in the mailroom.  :)  Point is, I could have never conceived that all this would lead to where it has brought me up to this point.

That's part of what is exciting about joining Union Square.  I have no idea where it will lead me.  Perhaps I'll move on to grad school afterwards and come back on a GP track somewhere.  Maybe I'll wind up joining a startup, or doing my own.  To some extent, my success so far has afforded me a certain amount of predictability and stability in my career relative to a lot of people my age... and I'm very lucky for that.  But now, I think its the right time for a shakeup.  I thought Stanford was going to be that shakeup, but life has an interesting way of playing bait and switch at key moments.

So, on Monday, I'll start working with Brad and Fred, two people whose accumulated experience I plan to download as much as they'll let me for at least the next two years.  Am I nervous?  No, not really.  I think when you know you're making the right decision, your clarity of vision calms you.  Anxious?  VERY.  I know there will be a ton of things I want to dive into--one of the great things about a small group with a wide open mandate.  A group of LPs has given these two professionals (with a hopefully helpful contribution of support from yours truly) a mandate to go forth and make money in the second generation of the web and media convergence.  Plus, I'm anxious to prove myself, too.  I know they could have had almost anyone and I really want to make them glad they chose me--everyday that I'm there.  If this isn't a chance to do something utterly fascinating with my time, then I don't know what is.

How's this for odd?

"Dear Customer,

We've noticed that customers who have purchased Audio CDs by Leon Russell also purchased the work of Joe Cocker. For this reason, you might like to know that Joe Cocker's Heart & Soul is now available. You can order your copy at a savings of 14% by following the link below."

Greeeat.  Now, if only I either a) knew who Leon Russell was or b) purchased any CD in the past five years, then maybe I'd find this helpful.  This is a case of a dog chasing its own "long tail."

You can now invite up to 50 other people to join Gmail....   Google is now letting the dogs out.

I hope the judge finds Citigroup and the traders 100 BILLION DOLLARS and then sticks his pinky up to his mouth...

Link: WSJ.com - Bond Strategy Haunts Citigroup.

I attended this "webinar" in December...   its a very professional discussion on the more serious side of blogging.  Very informative for beginners who might be looking to do something a little more serious than writing online diaries.  When you're done, perhaps Success Blogging will make more sense to you.

I went to the first meeting of the Fordham Young Alumni Executive Leadership series tonight.  Father McShane talked a lot about responsibility--that it was Fordham's responsibility to become the preeminent Catholic University in the country.  Along those lines I told Samara that it was our responsibility as Fordham bloggers to blog about what happened tonight and about all the enthusiasm and potential surrounding it. 

Rick Mina, the CEO of Foot Locker, was the keynote speaker.  He spoke about loving what you do and working your way to success "inch by inch."  Rick, to me, characterized the Fordham success story.  This was not necessarily a charismatic man of "vision."  He was a determined man of hard work.  He worked his way in from the ground floor.  His greatness seemed to be a result rather than a desire, as opposed to someone like a Steve Case who clearly wanted to do something great from the beginning and was less than focused on the actual work that went in to getting the result.  One of the alumni in our little business/finance breakout group brought up an issue about how many people coming out of Fordham achieve the level of success that Rick has.  So many people from Fordham seem to end up in solid, but not spectacular... good, but not great careers.  Of course, this is anecdotal, but the issue, by the admittance of the alumni mentors, seemed to have come up before.  Why is this?  What is it about the education at Fordham that seems to give people enough fuel for getting high up the ladder, but rarely to the top?

I think, to some extent, its confidence, which is just simply a perception of what you can handle.  One of the alumni said, "Maybe we're just not telling the students, 'Hey, get out there and knock 'em dead.'"  I actually think that, to a large extent, that's true.  I don't think there is any difference in the willingness to work hard of Fordham students.  In fact, I think they're willing to work harder than most, because they don't have the expectation of being handed anything for free, as opposed to an Ivy grad, perhaps.  Certainly the quality of the education is there...  I'd put a Jesuit education up against any other learning philosophy out there. 

No, to some extent, its a matter of believing in yourself enough to take hold of one of those "dare to be great" situations.  Its not about thinking that you yourself are great, but its holding out for a great opportunity or taking a risk on something with great potential.  When Father McShane talks openly about Fordham becoming the preeminent Catholic university in the country, he is trying to get people to recognize that Fordham itself is a "dare to be great" situation.  Unless you get people thinking like that you're never going to get there.  We should think and act like a great school because there's no reason why we can't be. 

Our basketball team should be going to the NCAA like St. John's has in recent memory.  Our website should be cutting edge, not in its look, but in its functionality, truly connecting the university community in new and exciting ways.  Little things, like our alumni softball team should have cool jerseys, not just t-shirts, because we're proud to be at Fordham and we're willing to invest in the brand.  Oh, and we need a blog, too.  I'd like to get the accumulated wisdom of every last one of the 100 President's Council members, the eager young alumni, and the excited students up on the web to get distributed in a stream to the world via RSS.  We need to shout to the world on every medium possible how great we are.

I saw tonight a contagious enthusiasm for Fordham's potential and I think it needs to be harnessed and brought back to the student body in a more deliberate manner.  I told Charles Spinelli, a Fordham alum in my breakout group, that he needed to go back to campus to pass on the same inspiring words he shared in our group with the students.  I misspoke.  Fordham needs him to go back and share those words with the students.  Fordham students need to burst out of this school like gangbusters ready to affect the world around them in a deeply profound way.  That doesn't necessarily mean trampling the guy next to you, but it does mean finding a situation that positions you to lead by example, to reach the top in a positive and productive way.  Ask not how you can be great, Fordham students, alumni, faculty, and administrators, but ask what is the great situation with the great potential that you are going to throw yourselves into without fear of failure, or even worse, fear of success.

The Daily News has a listing of 100 places to eat for under $10.  I haven't been to a single one of these places, but now that I know where they are, I'll be sure to check them out.

Ben from Church of the Customer, an early member of the Industry Blog Index at my Success Blogging site, has written an open letter to movie theatre owners in an attempt to stop them from forcing us to watch commercials.  Its a nice thought, but its not going to happen unless we walk with our feet.  How about a comprimise?  Why not but real commercials before the movie starts, instead of those silly movie quizes and actor name jumbles.  For the most part, we all get into our seats at least 10 minutes before the movie starts anyway.  At least then we don't feel ripped off because we know we're there early, so we don't feel like we're paying to watch commercials.  In fact, you could sell 15 minutes straight of commericals, with each slot getting more expensive as it gets closer to the movie.  In Manhatten, for example, people are in their seats by at least a 1/2 hour before big movies and we just sit there watching the same "Who said that?" ad four times.  I don't blame movie theaters for trying to increase revenues... but they're missing out on one revenue opportunity and annoying us with another.  How about switching?

So yesterday I went to lunch with Suzie.  I was starving, and I generally eat a lot of sushi when I go out, but the relative difference in what we ordered was hilarious, so I took a picture of it.

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Mena (Mee-na?  Meh-na?) posted about great customer service and I agree that excellence should be rewarded.  (And perhaps I'll write a Time Warner Broadband bashing post at some point as well, too.)  My best customer service experience, by far, has been with Factset.  Factset is an online financial data provider used by many large institutions to get stock prices, income statistics, etc.  Sure, we do pay a lot for the service, but there are a lot of services that we pay heavily for that don't have the kind of support that Factset does.  Many times, I've relied on representatives from Factset to follow up on problems, and while they can't always answer a question right away, they'll always get back to me that day with a status update.  The most impressive work came from another service rep there who was guiding me through a process to build some customized groups of companies.  The work was very tedious and after he showed me how to do one group, he offered to actually do the work for me!  I must have had 21 customized groups of 10-15 companies each... easily would have taken me about 2-3 hours to do and he had it done by the end of the day.  I'm sure he was able to do it faster, but still.  Once I e-mailed him an Excel file of how I wanted the groups set up, he did all of the necessary work on Factset.  I nearly fell off my chair when he offered.  I've got to believe that with service like that, their retention rate is extremely high.

You can now register for my class at the Learning Annex!  I'm not thrilled about the "And fatten your wallet" tagline and its not how I'd like to portray the class.  Its really for serious minded professionals interested in career development, not people looking for get rich quick schemes.  Alas, they're trying to bring people in and sell the program hard, so I can't knock them too hard.  :)

The whole world seems to be playing the "WWGD?" game.  (What Will Google Do?)   From browsers to VOIP, the amount of anticipation over Google's next move is out of control... and why not?  The value of Google as a platform is really immeasurable.  There are markets that Google could probably dominate tomorrow if they wanted to code a new offering on their front page tonight.  Google's internal five year plan is probably the single most valuable corporate espionage target out there now...  Who wouldn't want to know what the Google Good Guys are planning to do with all their IPO money? I just discovered Google's book publicity tool last night.  Any publisher can send a copy of their book to Google, and they'll scan it up and tie it into their index, along with a link to purchase the book.  Thought Amazon couldn't be strong armed?  What happens if they discover that a huge proportion of their likely to buy traffic is coming straight from a Google book search?  Maybe Google might want a special discount for Googlers on Amazon.  This company is just a force to be reckoned with and it probably has more flexibility in its future direction than anyone else.  Kind of makes Microsoft seem like old news.

I think it will be an interesting trend to watch as search tools start trying to interface with content and products that are already located within the catalogues of other businesses.  It has already started with Froogle and its only going to continue as search portals encroach into areas like real estate, travel listings, and perhaps even online dating.  What if you could Google search "single brunette AND early 20's AND New York City" and come up with results from Match, Spring Street, Love(at)AOL, AND eHarmony?  Throw in Friendster while you're at it.  There's a level of content that isn't just floating around.... its within a lot of these databases and its only a matter of time before search engines break on through.  They'll be forced to b/c they simply don't have enough content to keep up with the demand for advertising.

Jeff the Intern just came up with a great idea, but I coined the term.  He and Marcy were both needing to work on two different parts of the same spreadsheet, but Marcy had to close out of it before he could just stick in the two numbers he needed to.  He suggested that two people should be able to open the same file and, with two different color cursors, simultaneously add stuff to it.  Brilliant!  I call it "Microsoft Office 2-Player Mode."  :)   Now that's collaboration!

Plus, if you click "Up, Up, Down, Down, Left, Right, Left, Right, B, A, Select, Start" before the file opens, you get 30 lives.

Link: ESPN.com - MLB - Seeking relief, Astros add 44-year-old Franco.

Thank God...   Its OVER.  I was going to write something about how many blown saves he had for the Mets, so I went to his page on Baseball-reference.com.  Someone had sponsored the page and summed up my feelings on John Franco perfectly...

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        Mr. Wilpon, I sponsored this page so you wouldn't waste another penny on this guy.

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Dave Alexandro...  You're hilarious.

For the record, with the Mets, Franco had 276 Saves and 64 Blown Saves... 81.1%.  So, one out of five times he went out there, he blew it.   In 1998, the Mets finished 2 games shy of the wild card and Franco went 0-8 with 8 blown saves.  Good riddence.

Thanks to Mike R. for forwarding me this link from Dave Taylor's blog.  I just browsed it, but sounds like this would be a good person to share thoughts with...

Link: "Would you buy a book on blogging?" from The Intuitive Life Weblog.

"...Here are my two cents on this subject: books about blogging are going to be boring, just another subset of books about writing (the vast majority of which seem to miss what I view as the essence of learning how to write, which is to write. Peter Elbow captures this in his great book Writing Without Teachers).

To me, though, blogging is just a tool..."

Boring to bloggers, perhaps, but there are still a lot of people out there who actually like to read books AND use computers.  I know, I know.  It blows my mind, too.  I always liked Harold Ramis' line in Ghostbusters, "Print is dead."  I'd prefer to read everything of a screen, be it on a laptop, desktop, TV, Palm, phone, whatever, but people still insist on cutting down trees, so we have books.  Anyway, point being, yes, I agree that you really learn about blogging, and about yourself as a blogger by actually blogging, but some people just need a head start or a few tips.  Dave also writes "maybe I'd buy a book if the author had a unique perspective on what to do with blogs, but it sure doesn't seem like a very big market."  Well, the "what to do" part is where the market lies, and in fact, it is very large.  When you come up with unique applications of blogs, you tap into the 64% of internet users who have never heard of them by identifying blogs with something they're already doing, like, career development, for example.  Blogs are, just as Dave puts it, a tool, and a there are lots of books on how to use tools, from socket wrenches to C++.  Sure, the real tool masters use by doing, but sometimes, beginners need a book to get them started, or at least feel comfortable with getting started.  Speaking of which, my Success Blogging site, is nearly complete and I will probably replicate this post on there for discussion. 

So a funny thing happened today...  A while back, I posted an IM conversation that Brian and I had about people from Our Lady of Guadalupe.  Well, some of the people we mentioned were Googling themselves or other people on the list and found my site.  All of the sudden, four people I went to elementary school with and probably haven't spoken to in between 5-15 years commented on the page, adding more names on the list.  Quite a blast from the past. 

I think its an interesting way to find people.  Just blog a list of people you'd like to get in touch with.  I think everyone Googles themselves at least once in a while.  I'll bet that before you know it, these people will find your "People I'd like to get in touch with" list.  Classmates.com...   so much for your business model. 

Dodge This! proved that last week wasn't a fluke when they split their 1st regular season matchup, 2-2.   They came out a little bit stiff, but 4 dodgeball games and a post game visit to Blondie's loosened up our heros in grey.

So we've been debating team gear for next game...  sweatbands?  Tube socks?  We're a wacky bunch.

Pics from Blondies:

The snow is from yesterday, but the picture is from today because I left my camera at work.   I couldn't find enough snow to write a goofy snow tagline, so I resorted to writing in curbside residuals.  I can't wait until this weekend's blizzard.  I feel like I'm the Marty Stouffer of snow.

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Nice article in the Daily News about Fordham basketball.

I can invite 6 people to join Gmail.  E-mail me for an account.