Deconstructing the ritualized kabuki of the Japanese scandal — When I first arrived in Japan at the end of the bubble years, the news on TV and in the newspapers every day was dominated by the Recruit scandal. As a young engineer, I knew little about how business and politics worked. The revelations that came out daily gave me…

A patent primer for startup founders — Last week, I wrote about why patents provide no short-term benefits for startups but are still absolutely necessary to build a competitive moat. Today, I dive into the details founders need to know about obtaining patents. Because I don’t know much about the non-U.S. and every country is somewhat unique…

After she relented, Mama became a great friend and ally — A few days ago, Teruko Tsubota, my mother-in-law, passed away at age 93. The funeral was yesterday. She will be missed by many friends and family, including me, despite a rocky beginning to our relationship. Thirty years ago, I asked Satsuki to marry me. I was over-the-moon when she agreed…

Though patents won’t provide value for years, startups need to build a competitive moat from the beginning — Long before a startup books its first dollar of revenue or even has a fully baked product, investors demand the company have patents, as if they were more important than customers. Founders find it frustrating to be told they have to spend their rapidly dwindling cash on patents that won’t…

The magic begins as we make our first batch of kōji rice — I’ve always believed the only way to truly understand something is to make it yourself. As a sake aficionado, I’ve always wanted to try making sake. But unlike wine, or even beer or whisky, the complex sake brewing process is nearly impossible to do at home. So last month I…

5 key findings on pre-seed valuations and funding in a new report from Carta — When I meet other angel investors, the first thing we do is ask either other: What are you seeing with startup valuations? And when I meet startup founders, their first (and only) question is: What’s happening with startup investments? As an active angel investor, I see what’s happening in my…

Get a review of your pitch deck from an investor in 100 startups, but I ask a favor from you in return — You’ve spent weeks stressing over your pitch deck but you’re not sure if it’s ready for investors. Or worse, you’ve started sending it to investors, and it’s not getting any traction. What’s going on? I’ve spent years writing pitch decks for my startups. Then I became an angel investor. In…

Hard Days Washing, Soaking and Steaming Rice — Although I’ve been a sake snob for decades and visited dozens of breweries across Japan, the only way to truly understand something is to make it yourself. So last month I headed to Gakkogura on lovely Sado Island in Japan for a 1 week intensive training class on making sake…

The fate of your startup rises and falls with the impending ARM public stock listing — On Aug. 21, the chip designer, ARM, filed for an Initial Public Offering on the NASDAQ stock exchange. The IPO which would make the company’s stock available for public trading is likely to take place in early September. The success or failure of that IPO will determine if your startup…