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Changing Your Business Trajectory

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(This is a long list. Some browsers don’t like iframes. If you don’t see the files below, or only see a handful, please visit http://stephenfleming.net/boostphasefiles.html instead. Sorry.)

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Site contents © 1990– by Stephen Fleming.

If re-using any of the material above, please ensure that authorship is appropriately noted and linked to my site.

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Stephen Fleming Follow

Changing your business trajectory.

Boostphase
June 1, 2026

Good advice.

Erik Bruckner @E_Bruxxx

One thing deep tech / hard tech founders don’t appreciate enough: some of the best capital comes from family offices. Many are founder-operator types, think long-term, move quickly, well networked and generally understand industrial businesses better than VCs. Traditional venture

March 27, 2026

Sarbanes-Oxley was so obviously destructive that neither Sarbanes nor Oxley ran for re-election.

Handre @Handre

Sarbanes-Oxley turned going public into a $3 million annual compliance nightmare. IPOs dropped 76% in the decade after 2002 -- from 457 average annual IPOs in the 1990s to just 108 from 2003-2012.

The compliance costs hit small companies hardest (obviously). Goldman Sachs

February 2, 2026

“The median growth-stage venture-backed company cannot go public at a valuation that returns capital to the late-stage investors.”

True. And this is a real problem.

Will Manidis @WillManidis

http://x.com/i/article/2018312833503465472

January 27, 2026

Good advice.

ℏεsam @Hesamation

everyone must read this piece from Steve Jobs

January 17, 2026

All the important discussions between founders and investors should happen BETWEEN board meetings. The actual board meeting should be (1) a fulfillment of legal requirements, and (2) a chance to have 2nd- and 3rd-tier managers present their work, and give them a chance to shine.

Todd Saunders @toddsaunders

Most early stage founders are bad at board meetings. I was one of them!

Not because they lack effort, but because they think the job is to impress instead of to operate.

After 38 board meetings as a CEO, I learned the opposite lesson: the best board meetings feel boring,

Retweet on Twitter Stephen Fleming Retweeted
November 21, 2025

I used to phrase it as:

Startup CEOs can’t share their troubles with their employees because they’ll quit.

They can’t share with their investors because they’ll get fired.

And they can’t share with their spouse because she will say “You never should have quit that job at the

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