Why VC Dixon Doll Wants More Start-ups Shut Down(2)
Earlier this month, I spent a morning at the offices of venture capital firm DCM in Palo Alto chatting with co-founder Dixon Doll and general partner Peter Moran. Though it was my first time meeting them in person, I had spoken with Doll previously in his role as chairman of the National Venture Capital Association.
In that capacity, Doll had overseen the creation of NVCA’s “4 Pillar Plan” to restore liquidity to the capital markets. Despite my initial skepticism, I found a lot to like in the plan. I particularly appreciated that the tone of the plan was not about blaming others (i.e., Sarbanes-Oxley), but explored the complex trends that had undermined the IPO markets and proposed a number of positive steps.
There was no agenda to this follow-up meeting, other to meet and get Doll’s and Moran’s thoughts on the state of the venture capital industry. Doll, in particular, has been active in the valley about three decades. And I came away with a lot of interesting thoughts from both men. Here are few topics that have stuck with me since our chat:
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