Perspective, Pontification and Propoganda about Entrepreneurship and Venture Capital, brought to you by David Hornik of August Capital.

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Charlie Wood

To your son's question, I would have answered, "Being a VC means I get paid to gamble with other people's money." But then again, I'm not a VC. :-)

Dorrian Porter

And what says you about the impact on the Internet venture capitalists when an 8 year old can do all of this with no funding... How many enablement companies are left to build?


i was part of the founding of a company in 2000 called karmaloop. Our mantra was to aggregate and present clothing lines that people of your son's generation were interested in. in 2000 we were doing 5k a month - in a market where no VC/capital would touch (e-com to the Y-generation).

today, and with outrageous committment, the company sold over 700k in december.

the company has figured out the purchasing possibilites of your sons generation - and it is tremendous.

Greg (the ceo) refused to give up in 2000 - he completed a masters at Kennedy, while running this company through the most insurmoutable of cash flow hurdles. His wife (ridiculously smart harvard law grad) joined a year ago and the company now occupies 25,000 feet of dowtown boston office space, and should do $9m this year.

the secret? absolute committment to execution.

ask your son to go to the site - he'll be hooked! (its called karmaloop and this is not a shameless plug).

the influence of generation 'y' in my opinion is the absolute jewel. the company is not in the e-com business - its in the influence business. Dave - you hould talk to greg -you'd love this story

Danny Nerezov


That's a very sweet story. If things work out, hopefully my nephew will too catch the startup bug.

In terms of democratisation of e-commerce, I think the jury is still out. Sure the barriers to launch are coming down - but that doesn't mean barriers to success aren't escalating.

You know, people talk about the declining costs of kick starting ventures, but the last time I checked, the cost of actually managing, and growing a venture have largely remained the same.

Nevertheless, whilst it still might be as expensive as ever to build large businesses, it's great that the cost of doing micro, and home based businesses has mostly disappeared.

Kevin Marks

My Andrew was working on organic search engine placement when he was 7, now he's 10 he makes videos.

Megan Kamil


That is the cutest story ever!! I'm happy to hear that your wife "motivated" you to help your son build his dream - you've given him the entrepreneurial bug. Keep us posted on where it takes him.

Best regards,



Great story, I had a similiar experience with my two sons. Our venture family is currently the proud owner of several hundred domains. As a CFO of a technology company and former Internet Advertising Company, I got the domain bug early in the 90's while working on the Network Solutions account.


great story!

those munchkins are our most important start-ups: scaringly easy to begin, a lot of work in the early years, reqardingly challenging in the middle years, then we spin them off and share in their successes (always thinking we're still ceo).

great story. power to the skating dude!

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