Image via WikipediaFred Wilson: Going Out On Top: Then, at the top of their game, LCD decided to call it quits. They played four shows this past week at Terminal 5, and then played their last show ever at The Garden last night. It's over now. As we watched the band put on a fantastic show last night, I was thinking about going out on top. So few manage to do it. Shaq is warming the bench in Boston. ..... The money and the burning desire to "win another one" drives the great ones to stick around too long. ..... I look at Warren Buffett and Rupert Murdoch and I see individuals still enjoying the work and delivering for their shareholders and investors into their 80s. ..... But I also look around the venture capital business and I see investors who were at the top of their games in the 90s struggling to remain relevant. ...... How do you know when you've done your last great startup? How do you know when you've done your last great investment? How do you know when you don't have the drive, hunger, and insights to keep delivering top performance? ...... Right now, coming off two weeks of totally relaxing vacation with my family, I find myself up early, thinking, writing, and planning. I don't sense it is yet time to hang up my cleats or walk of the stage like James Murphy did last night. But the thought is in my mind and I want it to stay there. The investment business is not easy. You are only as good as your last trade, fund, or year. And the venture capital business is particulary tricky. All the returns in the business accrue to the top ten or, at best, twenty percent of investors. When you lose your edge, your performance suffers, often badly. But it can take a decade for the rest of the world to notice because there is so much latency in the venture capital business.My favorite solo blogger just surprised me like never before. The thought of "going out on top" seems to have crossed his mind.
