I'm torn between saying "Amen" to the relationship with customer as the prime directive and making the case that this has become a problem, esp. with Internet consulting. Prospective clients remain very confused about online marketing and metrics, so we're seeing too many firms that focus on the *relationship success* rather than *marketing success*. Clients almost force this situation because they almost always respond more to the person than the analytics, so I'm not blaming firms for working the relationship angles. However, I want to see a marketing world driven exclusively by ROI.

My WP blog is hosted at WordPress.com and I cannot find a way to install Intense Debate there - any ideas?

Ha - I also like to use that "last comment" trick, but I think my wife's figured it out. I don't get much mileage out of that one anymore.

Got it - thanks for clarification Don. Looks like Union Square is a good place to park some investment dollars.

Don I'm having some trouble relating the IRR to conventional measures like return on a CD. Does the IRR reflect simple interest or compounded?

Also as you have noted at my blog in the past, Union Square is a great performer - I wonder how these numbers would look across all VC firms?