I was recently speaking with the founder of a very successful tech company. We were talking about the company’s largest investor, which also has a strong brand, when the founder shared that he’s very happy with the investor.
Hoping to learn some of the contributions which a reputable investor makes to their companies, I asked what the investor does that makes the founder so happy. The founder’s answer was that the investor doesn’t do anything. And as a result of not doing anything, they don’t interfere with the business.
Some great founders just want, and only need, an investor’s capital without their interference.
And some great investors don’t add much value. They just make the right investment decisions and don’t subtract value.
Today, the 1st of May, is Labor Day in Turkey.
Primarily as the result of fast technological progress, economic returns have recently been shifting from sources of labor to sources of capital. I think this trend will continue in the future.
As a result, programs which protect sources of labor from short term adverse consequences and help prepare them for new opportunities, like new skill trainings, social safety nets, and unemployment benefits, become increasingly important. As this trend continues, new programs may also emerge.
It is our collective responsibility to protect and improve the collective human condition. Labor Day is a great reminder of this.
Wamda Capital, our partners in Modanisa, Insider, Kapgel, and Volt recently hosted a podcast between Kaan Kalipci from Wamda, Hande Cilingir from Insider, and myself.
In the podcast, we talk primarily about Turkey’s startup ecosystem. However, we also touch on the MENA region.
You can listen to the full 42 minute podcast below. Thanks to Wamda for hosting us on their platform.