Family Style

What's that phenomenon called, when you see something, start thinking about it, then you see it everywhere? Not something so in your face, like AI that's changing everything everywhere all at once.

Have you noticed a lot more talk and news about family office, or is it just me?

They manage trillions, the professionals that started them come from every sector and background. And they are opening up so many channels for investment into new technologies and innovations, along with stodgy old-school industries. They're looking to make their money work, allocate intelligently, leave legacy, impact areas that are important to them, and leave the entrepreneurial enterprise they started (as many of these families are also in a family-led business) with solid succession planning.

This flow of money in the largest wealth transfer in the history of the world is going to effect everything, especially the venture capital world.

What will set up the next generation for continues success, with Danielle Patterson :

Family offices are custodians of wealthy families' legacy, temporarily in charge of guarding its preservation, growth, and transmission to future generations. That responsibility is enormous and it creates the foundation for what happens internally and externally to that family; to its money, sure, but to its name, most importantly. Risky decision making is one thing, potential embarrassment or fraud - big no-nos. Takes lot of work to build up wealth and reputations, both can be chopped down pretty quick; the latter may be tougher to recover from. Integrating financial stewardship, governance structure, philanthropy (not just as PR), and solid decision-making, can mitigate those risks. And, hopefully, capture upside.

Either way, whether you have enough wealth for a family office or, more likely, not, setting the next generation up for success is all of our responsibility. We have stakes in lots of things, this is our main calling.

Oh and it's called The Baader Meinhof phenomenon

Secure the bag