Naughty And Nice Lists For 2020

Image by Jill Wellington from Pixabay

Confession time. #DogsofTwitter is one of my favorite Twitter communities. In this truly joyful corner of Twitter, dogs of all ages are trying extremely hard right now to be good boys and girls until Santa Paws arrives to give them treats and presents. Yes, it’s totally corny. But I can’t help it. I love it. 

In honor of the dogs of Twitter, I compiled my own naughty and nice lists for 2020. Hopefully, Santa will be able to take it from here.

The Naughty List

I’m not sure what Santa uses to keep his suit clean while he’s delivering gifts. But whatever it is, Santa is going to need a large supply because he will be handing out lumps of coal to a pretty big list this year.

Startups with No 2020 Financials

This is a serious pet peeve of mine. Startups raising capital at the end of the year technically only have to release the previous two years of financials. They don’t have to release the current year. So startups raising in October, November or December are under no obligation to report how they’ve done in 2020 — which is ridiculous.

Traction is one of the most important metrics in evaluating startups. We have every right to know what their year-to-date revenue is. Are they growing? How quickly are they growing? Are they going through a down year?  These are all critical questions. Imagine trying to buy a house right now without telling the bank how much money you made in 2020. That’s not going to happen. As startup investors, we shouldn’t accept it either.

So for all the startups raising without providing 2020 data (and there are a lot of them!), here’s a lump of coal for your stockings. You deserve it.

Steve Mnuchin

Treasury Secretary Steve Mnuchin has been hinting for a while that he wanted to increase regulatory oversight over the transfer of bitcoin and other cryptocurrencies. And last week, Financial Crimes Enforcement Network (FinCen) proposed new anti-money laundering rules for crypto.

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