Entrepreneur and investor Michael Lazerow reflects on selling Buddy Media to Salesforce and navigating post-exit identity loss.
Insight
Lazerow: Being a founder is much harder than being an investor
“Being a founder is so much harder. Investors have their own worries. We've done both. You got to raise money. You got to create a product that invest, that entrepreneurs like, but the existential dread of being an entrepreneur, of waking up and not knowing whe…”
Opinion
Lazerow: Boring small businesses, not OpenAI, will drive real AI value
“The number one thing I'm excited about is boring businesses that use AI to streamline processes, to find new customers, to communicate in a better way, and we just think that although all of this discussion about AI has been focused on open AI and these multi-…”
Insight
Lazerow: Entrepreneurship Means Grunt Work, Not Just Doing What You Love
“Because we're entrepreneurs, we show up, we shovel shit. Like there is no, like, just do the thing you love. You also have to tend to the store and tend to people and be present.”
Insight
Lazerow: Founder suffering creates more purpose than just deploying capital
“I love suffering more than sitting around and just deploying capital, and the suffering of an entrepreneur is where you find your purpose and your passion in life, if you're an entrepreneur.”
Opinion
Lazerow: Venture capital is the best business model ever due to fees
“If you are fortunate enough to be a venture capitalist, it's the best business model ever. You get paid a fee to manage the money and you get a piece of the upside, typically, 20% after you return your capital.”
Disclosure
Lazerow: We made bad angel investments because we couldn't say no
“We made a lot of bad investments because we weren't strong enough to say no to certain people who maybe have supported us in the past, and so it just took a little, kind of, getting back on our feet.”