Richard Moran – Common Sense in the Workplace

BIO: Richard Moran is a Silicon Valley investment and operations veteran. He is General Partner at Tonic BioVentures, an early-stage life sciences venture firm. STORY: Richard was impressed by the success record of a young man, so much so that he got his company to invest $6 million to build a business. A few months later, the young man misbehaved in front of customers. Richard reprimanded him, but he did the same thing again and had to be fired. Richard’s company lost $6 million. LEARNING: Pay proper attention to the findings of the due diligence. Don’t be distracted by past track records. Be careful of key man risk where the success of your investment is hinged on one person.   “Sometimes past performance is not an indicator of future performance in investing.”Richard Moran  Guest profilehttps://www.linkedin.com/in/richardamoran/ (Richard Moran) is a Silicon Valley veteran in both investing and operations. He is General Partner at https://tonicbioventures.com/ (Tonic BioVentures), an early-stage life sciences venture firm. Previously, he was the President of Menlo College. His background includes serving as a Partner at Venrock, CEO at Accretive Solutions, Chairman of Portal Software, and a Managing Partner at Accenture. His track record includes successful exits in software, gaming, food, and life sciences. He is a  best-selling author with ten books to his credit. His latest book is Never Say Whatever to be published by McGraw-Hill. He has a syndicated show, “In the Workplace” on CBS Radio, and is an “Influencer” on LinkedIn where he is a regular contributor but never reads the comments. Worst investment everA young man, who had been very successful, wanted to start a new company and needed $6 million to start it. Richard was blinded by his success story and immediately got his company to invest in him. They gave the young man the $6 million he needed to build this company. The success of that company was all hinged on him because he was its core. A couple of months later, the young man