I just got an unsolicited pitch from a PR firm about a CEO of a software firm that wanted to talk to us about ethics. I declined because I couldn’t quite see the connection to commodity trading software – at least none that a generic software company CEO might be able to talk to. But you know, that topic, it intrigued me to want to say a few words…. I recall many Moons ago when outside PE and VC invested millions of dollars into our software firm (ETRM), lots of words were given to us like growth, revenue, profits, customers, winning and so. Ethics was a word that was well… never mentioned. Now the firms that put money in were led by a household name VC/Investment bank. Of course, they got a place of the BOD (two I recall) and all of our ‘ordinary’ shares suddenly and somehow took on a tarnish by comparison to their ‘preferred’ shares. I found out more about that a bit later. I recall meeting the new board member spouting his need for growth, a 3-year ROI of at least 20% and so on – “but we don’t want any unrealistic plans from the management… continue reading
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