[THIS IS A REPOST FROM A FEW MONTHS AGO, BUT NOW WE ARE UP AND RUNNING]

At the end of last year I was giving the full-on Bullpen pitch to a former senior executive from Yahoo. He said, I like the pitch, but isn’t there a more simple version? Intrigued to hear more, I asked for his version of it.

He said.

(1) We are in a seed stage bubble

(2) When you are in a bubble, as learned from the 90s, you need a good selection filter because you see too much stuff

QED.

I thought about this for a while a realized that he had correctly summarized the fundamental thesis of Bullpen – by sitting behind the best possible filter (the Super Angels themselves), we were well armed for the current frothy situation.

I went back to Duncan and Rich and we produced a slide that looked like this.

We incorporated this to the last few pitches we did at the end of 2010 and this slide was hugely helpful in understanding how we would be successful in the current environment.

The natural follow-up to this is: what happens when a bubble pops? Bullpen is in a great position for this when it happens, and I will leave that as an exercise for the reader to figure out why…