Disclosure vs Confidentiality: an interesting dilemna

I was just leaving a comment on Francois Gossieaux’ blog, and actually thought that I should post about the topic: where/when/how to disclose affiliations and potential conflicts.

In the previous comment, Yann was suggesting that most of us have reasonably detailed profiles on LinkedIn, in the About page of our blog (or for that matter on Mary Hodder’s Speaker Wiki) – and this is enough for people to find out about our affiliations, and potential conflicts.

Because these records is in the public eye, it does provide for a “first level” of disclosure (who the heck are you ?), but it certainly falls short of full disclosure.  The point I made is that you can't expect readers to google your name when stumbling upon a post/comment you have made. They just don't have the time (I browse through thousands of posts a day, how could I).

Disclosure is a voluntary act of transparency, made in relevance to the context of a post. In some cases, it is important to disclose a potential conflict (like when I talk about companies I invested in or am working with). In other cases, it is also useful to disclose that you have nothing… to disclose – i.e you are perfectly neutral. So you do it right there, right then, assuming that the reader knows nothing about you or your affiliations.

Now the flip side: the need for confidentiality.

Increasingly, as the readership – and the juice – of this blog grows, I am asked by entrepreneurs or executives who approach me with an idea, a business plan or an opportunity, to commit not “to put anything on my blog”. Which is of course my default behavior. I often joke with entrepreneurs that I am told about so many things that I don’t even talk to myself in the mirror anymore. And ever since an incident where I had to take down portions of a post because I thought that information being shared by a company was “fair game”, whereas it was considered as a private disclosure - albeit to a large group of people, I always explicitely ask.

Like most VCs, I will decline signing NDAs in order to get acquainted with a company/business idea/concept. The basic reason is simple: in the consumer Internet space, it is safe to assume that any given concept/idea is implemented one way or another by a handful of teams (you might be truly unique as an opportunity, but that generally relies on the team, its relationships and its ability to execute). I will meet/talk to many teams developing a… music/podcasting service of some sort (for example sake) before jumping in one of them, or deciding to stay out of the space if I can’t “feel” any opportunity.

My line is therefore to always to commit to any entrepreneur that information shared with me will remain in confidence, but at the end of day, it is his/her decision as to what should be disclosed.

So how can you come forward with the proper level of disclosure, whilst maintaining confidentiality agreements – both personal (“gave my word”) or legal (“NDA executed part of an investment/contract”) ? One of two ways: partial disclosure (I am involved in a certain company – not to be named at this point, which means that what I have just posted/commented about should be done in the context of a potential conflict of interest) or simply STFU (Shut The F..k Up) on topics that might get you “in trouble”, i.e requiring a disclosure that you are not in a position to make.

Comments

[Gerald]

well said!