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Thanks, I'll forward this the next time they ask for money. A shotgun approach to investing other people's money in tech startups is fine, but drawing down the

by cmsmith 11y ago

Thanks, I'll forward this the next time they ask for money. A shotgun approach to investing other people's money in tech startups is fine, but drawing down the $__B endowment in 2008-2009 to avoid salary freezes was too risky.

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choppaface 11y ago
Wow, any links about Stanford's position on the salary issues? Agree that Stanford putting in so much money (more than YC!!) seems pretty wonky. Perhaps not as bad as Larry Summers blowing billions of Harvard's money on derivatives, though.
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robryan 11y ago
They might be putting up $10 million a year. In the context of a $22 billion dollar endowment this seems minor. All that money has to be invested somewhere, this isn't drawing it down.