My colleague was at a tech-industry trade show earlier this year helping a prospective customer evaluate our technology.
Privately-held companies with valuations of over a billion dollars, often referred to in the tech world as unicorns, are attracting a lot of attention these days. Engineers want to work for them, venture capitalists want to back them (the earlier the better), and a whole host of marketing-technology companies want to sell their services to them.
For four years, journalists and entrepreneurs have asked me why we created an open salary policy at my company. Here’s the answer: it prevents evil. Open salary policies mandate truthfulness and ethical behavior in organizations that would otherwise abuse the secrecy. “Transparency” is just a hollow buzzword unless executives are candid about compensation.
“What does it take to build a billion-dollar, SaaS enterprise-software company?” I hear this question a lot in my work as a tech investor, and it’s incredibly tough to answer. I bet mountain climbers feel the same way when they’re asked how they conquered a major summit.
Forbes magazine’s annual Midas List ranking of top VC dealmakers will be out next week—and Forbes writers, as well as a few ambitious quants, will undoubtedly slice and dice the data to analyze every possible angle.