Who besides that other SteveB ever thought it WAS going to work?
Microsoft bought Nokia’s handset division thinking it could use the company’s considerable hardware talent to build phones capable of going head-to-head with the iPhone. It was clear at the time of the deal that this was never going to happen and that’s why we weren’t surprised to see that Microsoft last month was forced to eat a $7.6 billion writedown related to the deal. But now TechCrunch has taken a look at some of the numbers Microsoft posted in a recent filing with the Securities and Exchange Commission that reveal the Nokia deal was an even bigger disaster than we realized.
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Would love to see more firms look at the data and understand the value of a more diverse startup portfolio.
A well-known Silicon Valley venture capital firm crunched some data from its last 10 years. The conclusion: female founders outperform their male peers.
First Round Capital took a look at 300 of its portfolio companies and almost 600 founders, and found that the teams with at least one female founder did 63% better than the all-made founder teams when looking at how much the company values have changed since the firm’s investment in them. Moreover, First Round noted that three of the its top 10 best performing investments have a female founder — not the best result but definitely notable.
Of its other nine findings, others also dispelled some common beliefs in Silicon Valley, including the importance of a technical co-founder. First Round found that while it’s critical to the success of enterprise companies (presumably because of the complexity of such products and technologies), they can actually be a handicap…
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