I love Business Insider.
They make me yell at the internet the way I yelled at my TV in the day.
They have declared the ‘death of television‘ more times than Donald Trump has been on TV. That is A LOT.
Way back in 2007 after CBS had acquired Wallstrip I wanted to really invest some money in Henry and his website. I asked Fred Wilson what I should do.
He said: ‘Write a term sheet’
I said: ‘What if he accepts?’
Fred said: ‘Worry about that if he accepts it!’
What Fred meant really was that since I was so passionate about what Henry was so passionate about, that me organizing a financing would not be difficult if Henry accepted my term sheet.
I cranked out a ‘term sheet’ (probably cut and pasted from Brad Feld or Fred’s blog) and knowing me, faxed it over.
I never heard back from Henry who likely and wisely (I would hope) just shopped me. I was just excited to be firing off a term sheet!
Henry finally got back to me and said they had a great offer from from another group (it was double my offer price) and he would love me to still invest. I did. Not enough it turns out. I invested again in a later round.
Today was a big payday.
To Henry and his team (especially some friends from the beginning Kafka, Frommer and Joe W)…congrats. I know how grueling the grind is and content is the gruelliest grindiest game I know.
I appreciate you making me feel a little smarter and secure today.
And TV is not dead. Just different.