I spent yesterday stuck first in the hand-me-down VW, and then in meetings. So just some reading suggestions to begin your day…
*** Brad Feld and Jim Lejeal continue their Board Meeting series, by asking “How many board meetings should a VC-backed company have?”
*** Lots of buzz around Yahoo’s disappointing online ad sales results, with some wondering if the burgeoning online ad boom has stalled. My own opinion is that this probably has more to do with Yahoo’s slow adoption of new technologies (as ZDNet’s Ryan Stewart argues), plus some cannibalization of Google/Yahoo by social networking sites like MySpace. Either way, however, the news makes certain VC-backed blog plays even dicier than they already were…
*** John Doerr on why his daughter is angry with his generation.
*** Finally, Jim Kilts yesterday joined new I-banking boutique Centerview Partners as a founder partner focused on building out a consumer-focused private equity effort. The New York Times suggests that he will help raise a fund of around $1 billion. For the uninitiated, Kilts is the former CEO of The Gillette Co., and helped orchestrate that company’s sale to Procter & Gamble. For his efforts, Kilts received a golden parachute of around $165 million. His efforts also led directly to layoffs and plant closures. Let me reprint part of what I wrote at the time:
Kilts’ decision made himself rich and others poor. Even worse, he’s had the gall to complain about media coverage of his greed (he called himself a piñata). My humble hope is that Kilts does not get hired to a plum private equity job once he formally leaves Gillette. I know that PE is the final refuge for many former CEOs, but perhaps some sense of morality will prevail.