Welcome to

For the first twenty years of my career, I (co)founded a series venture-scale software companies, growing each from an idea to a company earning millions in revenue, collectively serving tens of millions of customers.

I now use the knowledge gained from those twenty years to help new entrepreneurs.  My goal is to have them increase their odds of success by not repeating the common mistakes that I and my peers once made.  I do this in many ways:


The Next Step series of books guides entrepreneurs step-by-step through the process of getting from idea to operational startup, breaking the paradigm of startup investing, and explaining years of lessons teaching entrepreneurship.


The Next Step: podcast shares the lessons from the books plus other advice, anecdotes, and interviews, all in bite-sized audio pieces.

Accelerator & Investments

Fledge is a global network of conscious company accelerators, providing intense guidance, mentorship, investment, and support for a small set of entrepreneurs.

Africa Eats is an investment holding company focused on lowering hunger and poverty in Africa through for-profit solutions. The first spin-off of Fledge, it builds upon the work of a few dozen Fledge alumni who are building the food/ag supply chain across Africa.


Answering questions from entrepreneurs on Quora.

Plus in these various efforts, I do my best to uncover hidden assumptions, break investment paradigms, and seek solutions to income/wealth inequality.

And despite writing checks to entrepreneurs, I still consider myself first and foremost an entrepreneur, and as such every so often I simply have to create something new, such as:

The philanthropic investing service at Realize Impact, a 501c3 public charity that I co-founded, which lets any philanthropist turn a donation into an impact investment.

I hope something from this long list is of help to you.

Latest blog posts

Four minutes one second less than five hours…

Many of the everyday details in The Work of the Stock Market told in between the history facts are often just as interesting as the history itself. Case in point, if you read the history of time zones, it seemed like the standardization was complete in the U.S. and Europe by the end of the 1800s. Yet in 1922… The difference in time between London and New York is four minutes and one second...

The Origins of Carried Interest

The standard structure for private equity funds (and venture capital funds) is “2&20”, as in a 2% management fee (±1%) and 20% (±10%) of the profits, a.k.a. “carried interest“. Why 20% of the profits?

Henry Kravis of KKR explains below, starting at 6:00. TL;DR: Necessity, as he and his partners had no capital to put at risk.

My new refrigerator

My refrigerator died last week, and with that, my family and I lived with an “ice box” in its place, using frozen bottles of water as the source of cooling until today, when the new refrigerator was installed. Refrigeration is a service billions of us take for granted. Living without it for a week helps one ungrant that taking (or however that is supposed to be phrased). All of this...

The Work of the Stock Exchange (J.E. Meeker)

Despite the fact that stock markets have been operating for over 400 years, how exactly they work at the level of individual participate and individual role is rarely documented. Here in the 21st Century most of the accounts are how to make money as an investor, two or three steps away from the actual transactions taking place within the exchange. Which is why it was so fascinating to find and...


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Recent blog posts