Interesting piece in yesterday's SF Chronicle about an irony-rich investment capital trend:
Ben Smith, the former head of financially troubled startup Casbah Corp. , knows firsthand the boom-and-bust cycle of the late '90s. It all converged one day during his topsy-turvy four-month ride as chief executive officer, when Upside magazine listed his company among the hot 100 firms in technology. Ironically, the accolade came just when the startup was about to be sold to a rival firm.
"I got a letter telling me that we were in the Upside 100 — and we were out of money," said Smith. "Everything just sort of fell apart very quickly."
Despite his disappointing debut as a Silicon Valley chief executive officer, the 36-year-old is back in the startup business. As head of Spoke Software in Palo Alto, he has found venture capitalists willing to give him another chance — and millions in cash — to start and lead another company. Smith isn't alone. Today, venture capitalists are looking for management gems among ex-dot-com managers who survived an extremely turbulent time in the technology industry. Experience, leadership skills, tenacity and perseverance are qualities they are seeking in candidates.
Link (Thanks, David!)
