Intentions and Context

Girl With Mobile Smart Phone

Ben Evans penned his best post of the year last week, which has kept me thinking on it since.  One problem I have with it is its title, though.  I have trouble distinguishing between mobile and the web at this point.  What we call phones refer to a fraction of the utility I receive from mine, and any business that creates its value on the “connected world” (my preferred noun for what includes mobile, web, the internet, etc.) needs to think of these platforms in a unified manner.

The topic is a vast one.  It touches on

  • programming frameworks
  • the future of native apps vs. evolved browsers
  • whether we will continue to rely on legacy input/output interfaces such as mice, keyboards, touch screens, LCD displays, etc.
  • how we navigate and ultimately get to where we need in the massive world of data and information.

I am not smart enough to wrap my mind around what we have coming. I do, however, notice that the final point on the list above is exciting a lot of entrepreneurs.  It’s the quest for the new search paradigm. Google’s Page Rank was a great benchmark, in its speed and accuracy, for our expectations on how our information needs are met.

For the next generation of solutions, Fred Wilson is proposing that we rely on contextual runtimes.  I like his examples:

If I’m building a lunchtime meal delivery service for tech startups, that’s a Slack bot.

If I’m building a ridesharing service, that’s going to run in Google Maps and Apple Maps.

If I’m building a “how do I look” fashion advisor service, that’s going to run in Siri or Google Now.

If I’m building an “NBA dashboard app”, that is mostly going to run on the mobile notifications rails.

I find myself thinking about where context will reside, whether on the cloud or the mobile OS, and how much will be implicit versus explicit.  Essentially, we are looking for better ways to sniff for intentions, the way Google persuaded us to type it into a search box.

VCs and NDAs

Top_secret

From time to time, we come across investment opportunities where we are asked to sign a Non-Disclosure Agreement.  After quite a bit of debate internally, we have decided against signing NDAs, unless we have a signed term sheet and are entering the Due Diligence process.

Why not?

  1. We receive about 1,000 pitches a year and engage with about 400 of these ventures.  Inevitably, many businesses are overlapping and adjacent.  Trying to structurally track and separate information and NDAs relating to these would be a nightmare.
  2. An NDA is a legal document.  I would need to read and understand each one, and we’d need to run them by our lawyers, which is expensive and time consuming.

As VCs, we live and die by our reputations.  We take the confidentiality requests of companies that talk to us very seriously, and go to lengths to disclose conflicts and respect the sensitivity of the information we receive from entrepreneurs.  However, we can no un-know what we have heard.  So, when you share information with us, please keep in mind that we see many companies, probably including your competitors.

Essentially you need to decide on a trade-off: share with us the level of detail you are comfortable sharing, but also know that our decision whether to move on to the next level of conversation with you will be based on that level.

Brad Feld and Mark Suster have longer thoughts on this topic that would be worth a read.