Build a good business, not a “startup” stock promotion

We may see September 2019 as the instant when the VC bubble was pricked. WeWork, a money-bleeding sublet company, cancelled its IPO. Peloton’s share price dropped right after trading started. Share prices of money-losing taxi companies Uber and Lyft also sank. Wall Street investors are rejecting these VC stock promotions. With hundreds of “unicorns” still in …

Windigo Bay is a merchant bank. What does that mean, exactly?

Windigo Bay calls itself a merchant bank for the new century. But what is a merchant bank?  Merchant banking is the oldest form of banking.  It began in the 11th century in Europe.  Merchants began to lend their own money to finance crops, businesses and ventures.  The techniques that had been used to fund trading …

#startarounds: when startups try turnarounds.

Turnarounds usually involve saving real businesses that have fallen into difficulties. But in the current era of endless VC spending, numerous funded startups find their original business vision fails them. This post addresses the challenges facing startups attempting turnarounds, and contains our current thinking. When startups fail in their first product, and have to start …