January 22, 2014

Why Bitcoin matters

Anyone who has heard about Bitcoin and isn't quite sure what it is or how it's used or why it matters needs to read Marc Andreessen's op-ed piece recently published in the New York Times.

http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/

It's clear to me now that fortunes will be made on top of Bitcoin that will rival the fortunes made on top of the microchip, the personal computer, and the internet. Bigger fortunes, probably, because it's market is so much larger. And faster, because it'll spread through mobile devices like a wild-fire.



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January 3, 2014

Tuna Carpaccio with Fennel Salad


When you can get sushi-quality tuna, this recipe is a real crowd-pleaser that takes no time to make, looks awesome on the plate, impresses your guests, and most importantly, is simply delicious.

Of course, because the fish is served raw, it takes top-quality tuna to pull it off, so I wouldn't recommend this dish otherwise.

Ingredients (to serve 6/8) -

  • 1/2 lb sushi-quality tuna steak, sliced about 1/2" thick
  • 2 medium fennel bulbs
  • ~ 1 lemon 
  • ~1/4 cup extra-virgin olive oil
  • ~1/2 cup of freshly grated Parmisiano-Reggiano cheese
  • kosher salt and pepper
  • a pinch or two of large-grained sea salt

To make the Carpaccio -

Put the tuna steak in the freezer for about 10-15 minutes to let it firm up to make slicing easier. When cold (but not frozen), take tuna from freezer, and slice into pieces about length and width of a band-aid. A 1/2-lb piece of tuna steak should produce about 8 slices of tuna, though it doesn't really matter or have to be exact.

Place one piece of the tuna between two pieces of wax-paper or saran-wrap, whichever you have on hand, and pound until paper thin. The tuna will expand in area as it gets thinner so place it in the center of the wax-paper. Don't worry about the shape it turns into.  Peel back the top layer of wax-paper and use your fingers or a knife to help scrape the tuna off should it stick. Repeat to scrape the tuna off the lower piece of wax-paper and arrange neatly on a large plate. It's fine if it tears into more than one piece.

Continue in a like manner until all pieces of tuna have been pounded thin and arranged on the plate, leaving a well in the middle for the fennel salad. Refrigerate until 30 minutes before serving.

While the tuna is freezing, make the fennel salad. Trim the stems off each fennel bulb and then divide each bulb into quarters. Using a mandolin, shave each quarter of fennel over a large bowl discarding any hard or discolored pieces. Add the olive oil, the lemon juice, the cheese, and salt and pepper to taste, and stir to combine. Adjust ingredient amounts to produce the taste you want, then refrigerate for about an hour to let the flavors come together.

To serve, take the tuna and fennel salad out of the refrigerator about 30 minutes prior to serving to come up to room temperature - you don't want to serve this cold - and place a mound of the fennel salad in the middle of the plate.

Drizzle a little olive oil, a squeeze of lemon juice, and a little sea salt over the tuna and serve.



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December 19, 2013

What's your framework for making decisions?

When I look at a person or at a company that has been successful for an extended period of time, I wonder how they consistently make such good decisions. How do they almost always get things right?

Of course, they don't always get everything right - no one ever does - but they get more things right than they get wrong, and the things they get right work out far better on the upside than the things that go wrong hurt them on the downside. Their decision-making seems to lead to asymmetrically good outcomes.

Earlier this week, I watched this presentation Fred Wilson of USV gave at LeWeb in Paris. Everyone knows Fred as the author of avc.com and as being a fabulous investor, but what most people probably don't know, and what I didn't know, is how much time and energy USV spends on their decision-making framework.

If you want to see an example of what a well-developed decision-making framework is and how it leads to good decision-making, watch this video. The subject matter itself is interesting; the decision-making framework on display is even more interesting. No notes, no slides, just a man up on stage talking naturally about how he thinks about things.

Good decisions made consistently over time don't just happen by accident, they happen for a reason. If you want to make better decisions, develop your own decision-making framework. And then be disciplined about following it.



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November 20, 2013

It's time to order olive oil from this year's harvest

I got a call from my friend Valentino last week and he told me the recent olive oil harvest was a huge success: they are ready to ship us the new batch!

Needless to say, we are running low and I'm going to be placing an order. Just like last year, anyone who wants to join me is welcome to: simply send me $55 for each 5-liter tin you want via PayPal at dmilleravid at gmail dot com.  I'm going to place my first order this Monday (Nov 25) so don't be late.

Oh, and, I'm not making as big a deal about it as I made last year so this is the first and ONLY announcement.



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November 11, 2013

Learn to live with that "being on the cusp" feeling

I had an email exchange over the weekend with a first-time entrepreneur.  He said that "we are two developers away from really being in a good spot."

I told him that if I had a nickle for every time my partner and I said to each other that "we're only two deals away from solving our cash issues" or "if we could only just fill these three open positions we'd be in great shape ..."

That feeling of always being on the cusp - it NEVER goes away.  You're always two deals away.  You're always a few hires short.  Learn to live with that empty feeling.

When it's missing, you know you'll have a different type of problem.



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