BLATCHFORD WAS ALL CLASS

Way back when I was a Toronto Police officer, I was off-duty trying to buy two tickets to a Canada Cup hockey game that was being played at Copps Coliseum in Hamilton. All the scalpers took one look at me and my brush cut and refused to deal with me fearing that I was working undercover. I spotted Christie Blatchford in the crowd and explained my dilemma. I had never met her before. She laughed and said stay right here and leave it with me. Five minutes later she returned with two tickets. When I asked her how much I owed her, she waved her hand and said, Enjoy the game. Class, pure class.

Tom Newell

Niagara Falls

(There are so many great stories about Blatch. She was a once in a generation person)

GET WELL SOON JORDAN

I hope Jordan Peterson is recovering and will soon be back to enlighten our minds with his vast knowledge. I dont read comments because it makes me mad to hear ignorant peoples opinions. Peterson is a human being, his knowledge doesnt make him a piece of stone. He experienced traumatic events and will come out of it. I send him my love, my admiration and am waiting for him to get to the top. Get well, get strong. Maybe it would be good to experience ibogaine. I wish you the best.

Simone Da Fonseca

Spokane, Wash.

(It was really appalling how the left reacted to him)

ECONOMICS OF THE ENVIRONMENT

Re Feds climate change plan could pose significant new risk to economy, says Superintendent (Sun Media, Feb. 12): Your article and the headline about remarks on climate risk made last week by the Office of the Superintendent of Financial Institutions (OSFI) may have left the wrong impression with readers. The headline suggests that the Superintendent was commenting specifically on Canadas climate change plan. In this instance, the reference to governments was used in a generic context. The following is what he said about transition risks associated with climate change: Transition risk arises from efforts to reduce greenhouse gas emissions rather than from the changing climate itself. These risks will result principally from the policies that governments have (or will) put in place to reduce emissions. It is also possible that transition risks will arise from changes in investor or consumer sentiment. In the speech, the Superintendent noted that OSFIs role is to prepare for severe yet plausible economic scenarios. The impact of climate change on the economy remains uncertain, but OSFI is planning for the severe yet plausible. As the Superintendent stated, As the prudential financial regulator, its long been our business to make sure that financial institutions are always prepared to continue functioning through a range of severe yet plausible economic scenarios. So we have already done considerable analysis about how a major economic disruption could impact the financial system.

Office of the Superintendent of Financial Institutions

(That is helpful to know because we all want that information)

View post:

Letters to the Editor, Feb. 15 - Toronto Sun

U.S. radio host Rush Limbaugh, seen here on Feb. 04, 2020, is famous for being a radio shock jock.

Mario Tama/Getty Images

Christopher Hitchens was dying when he went on tour in 2010 to promote his memoir, Hitch-22, which chronicled his life as a polemicist, an author and a pugnacious critic of religion. He had recently been diagnosed with esophageal cancer when, on one of his stops, a talk-radio host asked him what he thought of people suddenly praying for him, a self-described anti-theist.

Well look, I mean, I think that prayer and holy water, and things like that are all fine. They dont do any good, but they dont necessarily do any harm, Mr. Hitchens said. Its touching to be thought of in that way. It makes up for those who tell me that Ive got my just desserts.

Those who ascribed to the just desserts hypothesis pointed to the divine as explanation for Mr. Hitchenss cancer: Gods revenge for him using his voice to blaspheme Him, according to one religious writer. Mr. Hitchens countered that if God was indeed meting out cancers as a form of retributive justice, infants with leukemia must have committed some dreadful sins.

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Mr. Hitchens was not one to be wounded by gloating over his misfortune, nor, I suspect, are many other prominent polemicists for whom strangers might delight in a terminal diagnosis. To achieve a level of success or fame such that strangers would even bother to form an opinion about you probably means that one has already endured a good degree of enmity. Ghouls toasting to metastasis is only a slight escalation.

U.S. radio host Rush Limbaugh, recently diagnosed with advanced lung cancer, and author Jordan Peterson, currently undergoing treatment for clonazepam dependence, have become two new sources for this particular brand of cultural schadenfreude.

Mr. Limbaugh is famous for being a radio shock jock, whose highlight reel includes calling birth-control advocate Sandra Fluke a slut and prostitute, and playing a song called Barack the Magic Negro, to the tune of Puff the Magic Dragon, for his many listeners. He was awarded the Presidential Medal of Freedom last week, ostensibly because President Donald Trump finds him charming.

Mr. Peterson became famous after he publicly opposed a bill he argued would oblige him to call transgender people by their preferred pronouns. His subsequent book, called 12 Rules for Life, sold millions of copies worldwide. Mr. Peterson developed a dependence on the anti-anxiety medication in the wake of his wifes cancer diagnosis.

As in Mr. Hitchenss case, the perceived karma of both mens diagnoses have provided distinct joy for their online critics. [Mr. Limbaugh] used those lungs to spew hate so this is payback, wrote one. Jordan Peterson, oracle to gullible young men, preacher of macho toughness, and hectoring bully to snowflakes He deserves as much sympathy as he showed others, wrote another (notably, a university professor).

Dead philosophers would have plenty to say about these crude expressions of pleasure. Nineteenth-century philosopher Arthur Schopenhauer viewed schadenfreude (the act of deriving pleasure from someone elses misfortune) as an aberration: an infallible sign of a thoroughly bad heart, he declared. To feel envy is human, but to indulge in such malicious joy is fiendish and diabolical.

Friedrich Nietzsche, on the other hand, saw schadenfreude as a universal human trait one rooted in feelings of profound inferiority. And Aristotle attempted to draw a distinction between a malicious type of joy derived from another persons misfortune, and the pleasure one experiences in witnessing deserved hardship or punishment.

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Though they might disagree on its precise nature, few theorists have characterized schadenfreude as a virtuous human trait. It may be useful in terms of catharsis, perhaps, or in satisfying a yearning for justice (or the perception thereof). But it doesnt rank high or at all among righteous human emotions of forgiveness, compassion, or the extension of unreciprocated kindness and empathy (is there a German word for that?).

Thats what makes the ecosystem of online commentary and social media so peculiar: normally exalted attributes of restraint and compassion which take far more effort than succumbing to visceral emotion are scoffed at as weak and conciliatory, and the celebration of misery is actually rewarded. Its where tweets hoping Mr. Limbaughs morphine is withheld and describing Mr. Petersons situation as one of the funniest things to ever happen are liked and shared tens of thousands of times, as if they werent inherently sadistic and cruel.

The effect is a perversion of what it means to rise above. Charity is for losers. Empathy for the spineless. The faithful openly delight in the suffering of the blasphemous, and social-justice advocates proudly boast their inhumanity. In this bizarre arena, schadenfreude is suddenly a virtue.

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Continued here:

In the ghoulish world of online snark, toasting to metastasis is a virtue - The Globe and Mail

Anyone attending a Washington practice knows exactly where special teams coach Nate Kaczor is. Its impossible to miss the energy he exudes, and so much harder not to hear him during special teams periods. And he has found a way to blend intensity, scheme, simplicity and not taking himself too seriously, all while being respected by his players and peers alike.

He shares those traits with Washingtons running backs coach Randy Jordan, about whom one could say many of the same things. In 2018, when Washington played the New York Giants in the Meadowlands, Adrian Peterson broke off a late-game, 64-yard for a touchdown to give the team a 20-6 lead with 3:06 remaining. As the future Hall of Famer sprinted down the sideline, just escaping the grasp of a would-be tackler at the very end, cameras caught Jordan, the teams longest-tenured coach, running down the sidelineas well, celebrating the score with his player.

Players say what sticks out the most is...

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The holdovers: assistants Randy Jordan and Nate Kaczor were retained by Ron Rivera for a reason - The Athletic

Robert Clark, of Lookout Mountain, Tn., has been named chief investment officer for the Public Employees Retirement System of Mississippi (PERS).

Mr. Clark, originally from Jackson, has worked since 2012 as portfolio manager with Southeastern Trust Company in Chattanooga. He will take the reins as PERS CIO next Tuesday.

Were excited to have Mr. Clark join our team, and I believe he will serve our members and the state of Mississippi well with his more than two decades of experience in financial services and investments, said PERS Executive Director Ray Higgins.

Mr. Clark earned his Bachelor of Science in mechanical engineering from the United States Naval Academy and his Master of Business Administration from Wake Forest Universitys Babcock Graduate Management School. A holder of the Chartered Financial Analyst designation and a certified financial planner practitioner, Mr. Clark has held series 7, 24 and 66 Financial Industry Regulatory Authority licenses.

His investment portfolio work includes serving as chief financial officer, Secure Waters, Inc.; vice president, BB&T Wealth Management; Wealth Services team leader, SunTrust Bank; and vice president, AmSouth Bank (now Regions).

As CIO, Mr. Clark will be responsible for planning and directing the activities of the PERS Investment Department to ensure the prudent management of the investment assets. Under the general direction of, and through accountability to the executive director, the CIO initiates investment-related programs and procedures in accordance with state and federal laws governing PERS.

See the article here:
Robert Clark Of Lookout Mountain Named Chief Investment Officer For The Public Employees' Retirement System Of Mississippi - The Chattanoogan

Kristoffer Inton: 2019 saw the resurgence of gold investment demand, leading prices to spike nearly 20% to more than $1,500 per ounce. Unlike previous rallies that we argued were fleeting, today's environment is different. With the Federal Open Market Committee cutting the federal-funds rate three times since August 2019, the investment case has strengthened. Amid heightened investment demand, we forecast a gold price of $1,500 per ounce for 2020.

However, when it comes to gold as an investment, today's demand is tomorrow's supply. Investment-driven buyers can quickly sell when real interest rates rise. In fact, ETF-held gold has reached record levels and now sits equivalent to roughly a year's worth of mine production. We forecast investment demand will eventually begin to unwind, which would weigh significantly on prices.

Worse still, the vacuum left by declining investment demand is likely to remain unfilled. Although jewelry is the largest source of demand, a combination of government initiatives and shifting preferences should drive slower growth in China and India, the two largest markets. The demand vacuum unfilled, we forecast a real price of $1,250 per ounce by 2022.

With gold prices roughly 25% higher than our long-term forecast, we see limited investment opportunities. Although individual miners have the potential to create value through cost reductions or production expansion, our forecast for declining gold prices outshines any operational upside, limiting any investment attractiveness.

See the original post:
Gold's Allure Dims Slightly as Investment Option - Morningstar.com

Accomplishing the financial cushion to retire early is a fantasy for most. Bringing the fantasy to reality is not as difficult as it sounds. The key is straightforward: Save significantly more every month. Sounds simple, correct? One moment.

Usually, advisors advise 15% to 20% of total income saved every month as an objective - yet in the event that you want to retire earlier, you likely need to tighten that number up to 40% or half of your pay. Not a discipline easily practiced when you review or consider that a substantial segment of your paycheck goes to basic, non- negotiable lifestyle needs. But if you are willing to make some serious lifestyle adjustments and trade-offs, it's achievable.

A generally new development called Financial Independence, Retire Early (FIRE) has been created around this "sacrifice and over-save now to retire early" idea. FIRE supporters create exacting savings plans (up to 75% of income) and make related compromises like living in small homes, walking to work every day, prohibitive weight control plans, etc. This way might be unreasonably prohibitive for many, yet the mentality offers a few takeaways that may merit consideration.

First, stick with the fundamentals of long-term growth investing: Choose a diversified portfolio of stocks with exposure to different styles, sizes, sectors, and regions.

You may be able to accelerate your potential retirement earnings by consciously seeking higher returns (and also accepting more risk) in your investment portfolio. But whatever your risk tolerance, your portfolio must be diversified to protect against extreme market movements that could jeopardize your early retirement objective. You can choose from a number of ways to allocate investments to diversify your portfolio, and these should be informed by your individual goals, growth and income needs, appetite for risk, and age.

Once you have accelerated your savings and put an ongoing plan in place, invest your savings into your portfolio as soon as possible. Don't try to time the market. Leave your portfolio alone, and let the compounding nature of the markets do its magic to help grow your retirement nest egg exponentially over time.

Astute investors pick retirement growth stocks with low beta, strong earnings estimates, positive sales growth, and expected future growth.

The Zacks Rank routinely recognizes lower risk growth retirement portfolio picks, and here are a few that may be worth considering: Summit Financial (SMMF), Brinker International (EAT) and First Financial Corp. (THFF). These growth stocks have strong Zacks Ranks and a beta of 1 or lower, with earnings and sales growth of at least 5% over the past 5 years.

Do You Know the Top 9 Retirement Investing Mistakes?

Whether you're planning to retire early or not, don't let investing mistakes derail your plans.

If you have $500,000 or more to invest and want to learn more, click the link to download our free report, 9 Retirement Mistakes that will Ruin Your Retirement.

This report will help you steer clear of the most common mistakes, like trying to time the market, lack of diversification in your portfolio, and many more. Get Your FREE Guide Now First Financial Corporation Indiana (THFF) : Free Stock Analysis Report Brinker International, Inc. (EAT) : Free Stock Analysis Report Summit Financial Group, Inc. (SMMF) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

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Powerful Proof Anyone Can Invest for an Early Retirement - February 14, 2020 - Yahoo Finance

Then, each subsequent year, you might crank up your savings by one percentage point (some plans have tools that can automate this), so within a few years you will be closer to that respectable goal of 10 percent of your salary (which includes what your employer kicks in).

Just remember: Not all employer-provided plans are good ones. Some are downright awful, stuffed with high-cost, low-quality investments. How do you know whether your plan is a winner? The costs you pay for the plan are typically a telltale sign and paying too much can cost you tens of thousands of dollars, if not more, over the course of your career.

If you see a bunch of funds that are charging more than 1 percent a year, that is a red flag, said Christine Benz, director of personal finance at the investment research firm Morningstar, referring to investments that charge more than 1 percent of your total money invested. You can also ask human resources (or the person coordinating the plan) to see a copy of the summary plan description, which should list any other administrative fees that arent immediately obvious. (BrightScope also has a tool that ranks thousands of plans.)

If youre in a high-cost plan, save enough to get any company match, but consider investing anything extra into another type of account.

For younger people, Roth I.R.A.s are often the preferable choice. Thats because you deposit money that has already been taxed, and youre probably in a lower tax bracket now than you will be later in life when youre earning more. In contrast, with a traditional I.R.A., investors get a tax deduction now, but pay taxes when the money is withdrawn. Your Roth I.R.A. balance is what you will actually have to spend; in a traditional I.R.A., it will be reduced by the amount of tax you will owe later.

Another upside to a Roth: In an emergency, you can withdraw contributions but not any investment earnings without penalty. (Not that you want to do that!) However, there are income ceilings that determine who can contribute, as well as other rules around withdrawals.

For a more comprehensive look at the various other types of plans, including traditional I.R.A.s, read our retirement guide here.

See the original post here:
The Young Persons Guide to Investing - The New York Times

February 14, 2020

Posted: February 14, 2020

AP

(AP) Delta Air Lines said Friday it will invest $1 billion over the next 10 years in measures designed to offset climate-warming carbon emissions from its planes.

Delta said the money would go into things such as boosting fuel efficiency and investing in efforts to remove carbon from the atmosphere by planting trees and restoring wetlands.

Aviation accounts for about 2% of global carbon emissions, but those emissions are rising with the growth in air travel. Airline industry officials worry about the emergence of flight-shaming reminding people of airplanes toll on the environment and its potential to reduce demand for air travel.

Airlines have taken small steps, including investments in alternative-fuel start-ups. They also point to their purchase of newer, more fuel-efficient planes in recent years.

However, revolutionary changes such as powering a large number of airline jets with electricity or biofuels are seen as years if not decades away.

Delta, which has an older fleet on average than many of its major competitors, has gotten poor marks for fuel efficiency.

In a report last September, the International Council on Clean Transportation ranked Delta eighth among 11 U.S. airlines in fuel efficiency per passenger on domestic flights in 2017 and 2018. Delta finished slightly ahead of American Airlines but behind Southwest and United. Frontier Airlines ranked first thanks to its newer jets, more direct routes, and more passengers per flight than most rivals.

Delta burned 4.2 billion gallons of fuel last year, 2.5% more than it burned in 2018.

We will continue to use jet fuel for as far as the eye can see, CEO Ed Bastian told CNBC. We will be investing in technologies to reduce the impact of jet fuel, but I dont ever see a future that we are eliminating jet fuel from our footprint.

Flight-shaming drew headlines last year when Greta Thunberg, the young Swedish climate activist, sailed across the Atlantic instead of flying to speak at the United Nations. Few people can opt for a sailboat trip, but in parts of Europe, flight-shaming is credited with increasing travel by train.

The U.N.s aviation body, the International Civil Aviation Organization, adopted a plan that calls for airlines to voluntarily start offsetting their increase in carbon emissions starting this year.

At a Delta investor conference in December, Bastian called environmental stewardship the existential threat to our future ability to grow. You see it happening in Europe. It is increasingly coming here to the U.S.

Atlanta-based Delta is the worlds largest airline by revenue. For 2019, it reported net income of nearly $4.8 billion an increase of 21% on revenue of $47 billion.

See original here:
Delta says it will invest $1 billion to cut carbon emissions - - KUSI

Chris Hollod wants to be known as one of the most active angel investors in the alcohol space.

After about a decade of making investments with billionaire Ron Burkle and actor Ashton Kutcher, Hollod, a Los Angeles-based venture capitalist, struck out on his own in 2019 and has shifted his focus from investing in tech companies such as Airbnb, Uber, Spotify and Warby Parker, to investing in consumer packaged good companies, specifically alternative alcohol companies.

Anything at the convergence of culture and wellness piques my interest, he told Brewbound. What Ive found Im most passionate about without question by order of magnitude is alternative alcohol, functional alcoholic beverages, clean spirits, near beer, non-alcoholic beverages, and all of these sober curious trends.

Hollods strategy is to make strategic bets in a handful of companies with complementary portfolios that arent competing in the same segments. His list of investments thus far includes San Diego-based hard kombucha company JuneShine, CBD brand Recess and botanical spirits brand AMASS. He is also acting as an advisor to up-and-coming mezcal maker Rosaluna and wine spritzer brand Hoxie.

In addition to his existing portfolio of companies and advisory roles, Hollod said he is in ongoing discussions with the founders of hard pressed juice brand 101 Cider, canned cocktail producer Vervet, and hard tea brand Loverboy.

Not that Hollod hasnt made investments in the beer space. Along with Kutcher, he was an early investor in Los Angeles-based House Beer, and he remains an investor and advisor in the lager brand.

However, as Hollod explains in the following conversation with Brewbound, investments in the beer space no longer align with his focus, passion and consumption habits. Within the beyond beer space, Hollod said he plans to invest around a couple million dollars annually, with investments of between $25,000 and $75,000 on the small end and $100,000 to $250,000 on the higher end.

Theres no set figure, he explained of how much hes willing to invest overall. Its my own money. I dont report to anyone. I dont have any outside investors.

Read on for excerpts from his conversation with Brewbound on his strategy, the types of companies hes looking to invest in and more.

What type of companies are you currently interested in investing in?

My investment thesis tag-line for Hollod Holdings is companies at the convergence of culture and wellness. So Im generally interested in new, culturally relevant, innovative health and wellness brands ranging from food to beverage to self-care to even pet-care. But Im most passionate about the alternative alcohol sector. Within that sector, I like start-ups that have already generated a bit of traction with at least one product and need to raise some capital to fuel exponential growth. I also have a bias toward LA-based companies, because its not only my home, but I think its the epicenter of cultural wellness trends at the moment.

Given your interest in the alcohol industry, are beer companies on your radar?

Unfortunately, not any more. Ive tracked the beer sector for a while, especially during the craft beer boom, but at this stage of the industry life cycle, I think the risk-reward profile of beer companies is too unbalanced. I just dont see much inspiration and innovation in the sector at this point.

Why not?

As an early-stage investor, Im attracted to budding subsectors with relatively minimal competition and endless growth potential, and that definitely doesnt characterize the beer industry at the moment. Overall, the beer space is just so crowded. By the end of 2018, there were roughly 7,000 breweries operating in the U.S.

The industry will always be a firm duopoly because its dominated by the two biggest players, Anheuser-Busch InBev and Molson Coors, which together comprise roughly 70% of all U.S. beer production. Growth rates are on the decline, and consumers are actively searching for more aspirational alternatives to beer.

Look at Boston Beer for example. Good thing they own Truly. I personally cant remember the last time I saw a Sam Adams beer, but I can definitely remember the last time I saw a Truly. Thats clearly anecdotal evidence, but as an investor, I have to rely on my own inferences, experiences, and gut instinct.

When it comes to beer, aside from maybe a super unique formulation, innovation really lies within marketing and branding, which is extremely expensive and fickle. I admit that the craft beer boom was absolutely epic, but its now time for the alternative alcohol movement to explode, which I think will inevitably cannibalize the beer industry.

So why are you so attracted to the alternative alcohol sector?

Its my job to follow and facilitate innovation, and I think there is a ton of innovation occurring in alcohol. When I started investing in consumer tech in 2010, both the App Store and iPhone were relatively new, so there was an unprecedented amount of innovation around those platforms. Im now seeing a confluence of so many different trends and drivers in the overall wellness industry, which is consequently sparking amazing innovation in the alcohol sector. Alcohol used to be relatively immune to health trends, but thats clearly no longer the case. Whereas the wellbeing movement was once confined to the coasts, its now unquestionably permeating the rest of the country. In addition to the health trends, theres a fundamental shift in consumer shopping behavior primarily driven by social media, mobile technology, and the immense influence of millennials, who are now the largest generation in U.S. history. Millennials are now calling the shots when it comes to alcohol, and they are demanding a greater and more authentic customer experience and product, which will continue to drive incremental innovation. I dont think the big alcohol brands will be able to sufficiently innovate in-house, so they will be forced to buy the cool new start-up brands as they begin to scale.

What do you look for in the companies in which you invest?

First and foremost, the company needs to have a compelling and innovative product that has the potential to actually scale across the country. It cant just be an interesting niche product that only appeals to Angelenos or New Yorkers, for example.

Beyond the product, the storytelling, branding, and narrative need to be impeccable. Our attention spans are so damn short right now, so new brands need to be expert storytellers in order to entice new customers and create a sustainable relationship with them.

I also like to understand the financials, especially gross profit margins. Investors always talk about TAM, which is the total addressable market. The companys TAM needs to be large enough to fuel massive initial growth. Otherwise, the start-up will hit a ceiling and be forced to spend tons of money on marketing, where there is very little margin for error.

Lastly, the entrepreneur needs to be an absolute beast. I love founders that are borderline monomaniacal. No matter how amazing the product may be, the founder has to be equally if not even more impressive.

Kombucha seems to be a beverage that hasnt realized its full potential in the alcohol sector outside of California. Given your investment in JuneShine, why are you bullish on kombucha?

In general, Im most passionate about functional alcoholic beverages with transparent, healthy ingredients. Yes, it feels good to get a little tipsy, but Im excited about other incremental functional benefits that alcoholic drinks can potentially provide. I think hard kombucha epitomizes this trend. The product is wholly organic, gluten free, and contains probiotics, antioxidants, and vitamins. And it makes you feel good without the aftermath of a pounding headache. Its just not cool to be hungover anymore.

The GTs [Kombucha] of the world have already nicely paved the way for the higher-alcohol kombucha brands to enter the sector, because the average consumer is now already aware of kombucha. I also love the demographics. When I realized that my girlfriend Bianca and I were both drinking hard kombucha in 2018, I immediately further diligenced the sector and found out that roughly 65% of JuneShines tasting room attendees were female, and 60% of their Instagram followers were female. Its generally quite difficult for Bud and Miller to effectively market to female millennials and rising gen z-ers, so I think the big guys will keep a keen eye on the emerging hard kombucha brands.

Weve already seen this trend substantiated by ZX Ventures investment in Kombrewcha. Theres also a growing anti-alcohol movement among young people, so I think hard kombucha is an emerging product that can potentially bridge the gap between alcoholic and nonalcoholic, based on its functional benefits and potential for lower ABV.

Hard seltzer has been the story of the last couple of years. But you dont seem to be investing in that area. Why not?

I credit hard seltzers with initially enticing me into the overall alternative alcohol sector. Ill never forget the first time I saw a Truly. I immediately dismissed it as a silly fad. Fast forward several years, and I was buying the stuff by the case for pool parties. Same with White Claw. The hard seltzer space is now a duopoly, with those two brands dominating the subsector. You also have A-B InBev eagerly pushing three seltzer brands: Bon & Viv, Bud Light Seltzer, and Natty Light Seltzer. The space is crazy now.

As a venture capitalist, my goal is to always pursue the next big thing, as opposed to simply backing a better version of White Claw, for example. Also, at this point, I just dont love the taste of flavored malt beverages, and I only invest in companies that I will actually consume and actively promote.

Beyond financial investment, what else do you offer the companies that you invest in?

Theres constant chatter in the venture capital world regarding smart money versus dumb money. All investors like to consider themselves smart money, but after doing this for more than 10 years across multiple investment funds, I make it an unbreakable requirement to only invest in companies where I can add value. My biggest strengths are high-level strategy, connectivity, and validation. Ill rarely spend five hours discussing operational specifics with an entrepreneur, but I love spending five minutes making an invaluable connection or acting as a strategic sounding-board to the CEO.

In general, Id like to think that Im at least one or two degrees of separation from most people, so I always enjoy making warm intros on behalf of my portfolio companies. Im a huge fan of gifting products and stocking my house and fridge with portfolio company products so that I can share them with friends and entrepreneurs that come through my house for meetings.

Regarding impact, I avoid pre-launch companies, because there are just too many moving pieces, and it dilutes my strategic impact. Instead, I think I make the biggest impact while a company is raising a seed or Series A round, after theyve raised a little money from friends and family and have launched at least one product in the market.

How many companies are you looking to invest in in 2020?

I kicked-off 2019 at a crazy pace. I was almost making one investment per week, which was similar to my investment cadence with Ashton back in 2011, when the consumer tech boom was in full effect. But I now really want to decrease my investment frequency and increase my average check size. Ideally, Id like to make one or two investments per quarter, but no more than one investment per month.

Beyond making a return, what are your goals for investing in these companies/spaces? And how will you generally define a successful investment?

My old boss and mentor, Ron Burkle, used to tell me, When you make an investment, you need to always focus on three requirements: 1. be proud of it, 2. enjoy it, and 3. make money from it; but if you have to miss on any of them, miss on making money. You must always be proud of what youre doing and enjoy it. That statement will stick with me for the rest of my career. Because when Im proud of an investment and actually enjoy it, the third component, making money, has a tendency to follow suit naturally. When investors chase money and returns, they sometimes get burned, because they can get pulled outside of their comfort zone and start making short-term decisions. But I like to chase inspiration and innovation, because money usually follows.

Photos by Jonathan C. Ward

Read more:
Venture Capitalist Chris Hollod on Why He is Investing in the 'Alternative Alcohol' Space - Brewbound.com

Venture capital has been flooding the various subverticals under the robotics umbrella in recent years, and the construction space is one of the largest beneficiaries.

Last November, we surveyed 13 of the top robotics-focused VCs to find out which areas of robotics are exciting them most going into 2020. One of the most common areas of attention respondents highlighted were startups focused on construction and manufacturing. In 2019 alone, the robotics space saw roughly 600 venture-backed fundraising rounds, while construction companies successfully raised roughly 200 venture rounds.

With our 2020 Robotics + AI sessions event on the horizon in early March, were diving back into the sector to learn about the attributes of construction attracting robotics VCs the most and which types of startups VCs are actually writing checks for in 2020. We asked 16 leading people who actively invest in construction robotics and work at firms spanning early to growth-stage to share whats exciting them most and where they see opportunity in the sector:

True Ventures has been investing in industrial automation broadly for over 4 years, focusing on founders who bring technology to market that eliminates repetitive manual labor and multiplies human productivity by automating routine tasks.

Read more:
Where top VCs are investing in construction robotics - TechCrunch