02:43:41 am on February 11, 2007 |
By now, word has probably rippled through my vast readership that I have transitioned over from Flock to Bessemer Venture Partners as an Entrepreneur in Residence. People ask me what this is all about, so I will attempt to explain in brief.
After founding Flock with Anthony and Bart and doing everything from Marketing, BD, to Finance, the time came for me to try my hand at something new. Flock is in a good place, has experienced leadership, and a plan for getting 1.0 out. From my perspective, I could continue to help out when called upon, but did not need to be there day-to-day while the company is in execution mode.
Being an EIR (IMHO) is a great option for an entrepreneur who knows that they enjoy working with a particular investor, but is not 100% certain about what their next venture will be. The program at Bessemer is perfect for me because it allows me to evaluate new opportunities that come in, introduce the firm to deals I find interesting, and learn about the process that goes into making investment decisions. I also get to intereact with existing companies in the portfolio and learn from them, as well as help out where I can. All of this creates an environment in which I have as much or as little interaction as I want with investors and entrepreneurs regarding new ideas that I am thinking through for my next thing.