Views from the Core

  • Nikkei Business Daily March 30, 2017

    A Silicon Valley Headline That Will Not Go Away: Where Are All the Women?

    Silicon Valley considers itself a meritocracy. As we wrote in our last column, the role of immigrants in creating technology companies that drive wholesale market transitions and ultimately massive market values has been remarkable. Immigrants’ success in Silicon Valley is a testament to an ecosystem open to vision, intelligence, hard work and hustle...

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  • Nikkei Business Daily February 14, 2017

    Silicon Valley’s Love Affair with Immigrants

    Joanna Drake Earl General Partner, Core Ventures Group Silicon Valley is a terrific place to realize the American Dream. From its earliest chapters in the mid-1900s, Silicon Valley has been an environment uniquely friendly to ambitious self-starters who may have big ideas, intelligence and chutzpah, but not much more. In many traditional US industries like...

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  • Nikkei Business Daily January 31, 2017

    Top 5 Common Silicon Valley start-up misunderstandings about Japanese Corporates:

    Joanna Drake Earl General Partner, Core Ventures Group In our last column, we published the top 5 common Japanese misunderstandings that we see in Silicon Valley. We thought it appropriate to take the reverse angle and share the most frequent misunderstandings that Western start-ups have about doing business with Japanese companies. “Despite, Japanese companies’ reputation...

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  • Nikkei Business Daily December 8, 2016

    Five Common Misunderstandings about Silicon Valley Start-Ups:

    The accelerators in Silicon Valley are largely organized to help outside founders who don’t have much experience with Silicon Valley startups or who don’t have a local network and, therefore, need help navigating fundraising, sourcing talent and general company building...

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  • 2Q16

    View from the Core (excerpt from Letter to LP's)

    Because our first filter when evaluating new investment is exceptional founders, we are often asked how we define exceptional. We work against an established, but constantly evolving definition and employ an evaluation methodology that focuses on personal characteristics, training and market and domain expertise, startup experience and work style. While the first and final criteria may seem “soft”, at the earliest seed stage when there is nothing but an idea and founder experiences, we rely most on our instincts around the founders’ people power and capacity for learning and adapting.

  • 1Q16

    View from the Core (excerpt from Letter to LP's)

    In the middle of devaluation of the Silicon Valley bubble, it is worthwhile revisiting the underlying causes and amplifiers. One reason that private start­up valuation inflation continues is a lack of a systematic instruments for shorting private tech stocks. If there were such a mechanism, there would be more persistent and healthy downward pressure on private company valuations. Another factor is the widespread market information disparity that is currently exacerbated by a wave of nontraditional investors (corporate and overseas) setting prices as they play a growing role in early and late stage start­up financings. In short, information travels slowly and outside investors are often the last to know.