Nick Timiraos|Nov 03, 2026 13:58
"Who's afraid of Alan Greenspan? Not Sy Picon."
WSJ, January 2000: Sy Picon, who runs a Virginia company distributing Pokémon and Speed Racer videos, downplayed worries about higher Fed rates. Venture capitalists were pouring more money into his company. His backers wanted returns of “10 times, 30 times,” so even a full point added to borrowing costs wouldn’t matter much, he said.
https://www.wsj.com/articles/SB94815392147318782?mod=article_inline
Nine months later....
Washington Post, September 2000:
A Florida based venture capital firm stepped in to provide funding "for the troubled online animation retailer" which "has been struggling over the past few months after financing fell through and most of its employees were laid off to cut costs."
"Syconet was not able to make payroll June 26. Founder Sy Picon had stepped down as president, chief executive and treasurer in July."
https://www.washingtonpost.com/archive/local/2000/09/27/business-notes/09eb72a9-8638-4f19-bdcc-262656cb562a/
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