About Me
Hi. I'm Mike Kane, a Philadelphia guy investing in early stage venture companies. I co-founded Pour Richards as a way to bring interesting people together to talk about ideas. This saved me the enormous trouble of having to be interesting myself.Pages
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Recent Posts
Tag Archives: problems with traditional model
Rent-Seeking in the Fund Industry
Imagine you’ve just enjoyed a nice meal at a fine restaurant when the waiter brings over the check. On looking at it, you discover there’s a 10% surcharge for “marketing expense”. When questioned, the waiter explains that this is a … Continue reading
Why Venture Capital Has Not Performed
The vintage issues around the 10 year fund are in fact a form of market timing whose risk is additive to total fund risk, but uncompensated to the LP. Continue reading