Remembering the source

There is a Chinese saying 饮水思源 (yin shui si yuan) which translate to "When you drink water, remember the source of which it came from". In this ever-liberal world where self-centeredness and the flagrant discarding of values is seen as a virtue on the "god of self-expression and personal fulfilment", it is a rare breed that truly exemplifies the spirit of ethical and responsible business, and never forgetting that it is never about just one person or oneself.

Miami banker gives $60 million of his own to employees (read full article)
BY MARTHA BRANNIGAN
mbrannigan@MiamiHerald.com

Lots of bosses say they value their employees. Some even mean it.

And then there's Leonard Abess Jr.

After selling a majority stake in Miami-based City National Bancshares last November, all he did was take $60 million of the proceeds -- $60 million out of his own pocket -- and hand it to his tellers, bookkeepers, clerks, everyone on the payroll. All 399 workers on the staff received bonuses, and he even tracked down 72 former employees so they could share in the windfall.

For longtime employees, the bonus -- based on years of service -- amounted to tens of thousands of dollars, and in some cases, more than $100,000.

At a time when financial titans are being paraded before Congress to explain how they blew billions on executives' bonuses even as they received a taxpayer bailout, the big-hearted banker's selfless deed stands out.

Leading by example

Some of my peers within the industry scoffed at my idea of living within my means, and in the continuing efforts to impress that same spirit onto my portfolio startups, saying that living large is "essential".

The rise of pseudo-entrepreneurship, and the latest bubble (in my view) of "Social Entrepreneurship" as defined and run by intellectuals is a growing worry, where the basic tenets of entrepreneurship of value creation, working within one's constraints and the respect of business ethics is rapidly being eroded by cunningly worded arguements in order to justify one's undeserving existence. Think "Animal Farm".

Having a servant leader that truly leads by example, that is a key lesson that I hope businesses would learn from this recession.

How to say goodbye

The Actual (better) MTV here: http://www.youtube.com/watch?v=Fk5K-eTTkfM&NR=1

A week back, I was asked why do I write about my personal life on this blog; it was said (as quoted from a friend of mine) to be "unbecoming" of a professional Venture Capitalist to look weak, even unprofessional.

My reply was simple. Like any of my startups, we are all living, breathing humans. We have our faults, our flaws and our problems unlike the glorified and oft-glossed image of "entrepreneurs" that have all the time in the world to party, blog and live the high life. My startups and myself have bore the pain of problems in family finances, the anguish and pain in our relationships, the emptiness when hope and passion wanes. Yet we all soldier on, some of us falling along the sidelines at times, some others giving up in despair.

So why the topic of "Saying Goodbye"? More often than not, we always welcome new beginnings and the wonderful hopes that comes along with it (like now in the Chinese New Year) but we neglect to look at the endings, to learn, to close and to move on. It is with this intention that I hope to remind us to look upon our endings in a different light, and with renewed hope for the future, both in our ventures and in our lives. Have a very Happy Chinese New Year ahead!

PS. For the 3 startups graduating in the coming months from Azione Capital, this is for you.