Larry Waldinger

Founder

2024

BFB Consulting specializes in empowering aspiring business owners to launch and grow their ventures. Our greatest strength is in assisting small-scale startups, but enterprise operations may also be interested in what we have to offer. Larry Waldinger stumbled into his first entrepreneurship at the age of 18, when he entered the taxi business as a driver. As a mentor Larry has come a long way since then. Pro Bono Work is a fundamental part of our mission at BFB Consulting. If you represent a nonprofit making a significant impact, or if you have a compelling reason for us to support your commercial or for-profit business, please reach out. We are passionate about communication and look forward to hearing from you for any reason. Compelling Business Statistics (As of June 17, 2024): To illustrate our commitment to leveraging cutting-edge technology, consider the response I received from an Artificial Intelligence entity when asked for compelling business statistics to educate and attract prospective business owners: “1. Small Business Growth: Small businesses create two-thirds of new jobs and contribute 43.5% of the United States’ GDP, according to the U.S. Small Business Administration. 2. Startup Success Rates: About 50% of new businesses survive five or more years, with around one-third making it to ten years or more, underscoring the importance of proper planning and support. …” AI is transforming the business landscape, much like the steam engine did. As Andrew Ng aptly said, “AI is like electricity.” Just as the internet revolutionized business operations, AI is becoming an essential tool for business. Operating a business today without the internet is unthinkable, and the same will soon apply to AI. It’s time to move from outdated practices and tools such as the “dead wood model of data transfer and storage” aka paper, to modern, efficient business practices. For rates or questions reach out directly at: BFB Consulting 650-772-9956 LWaldinger@gmail.com

LP (Limited Partner)

2021

Please understand that Larry is not an employee or General Partner at 7BC, he is an investor or LP. As such he doesn't receive a paycheck or W2, he has little to no hands-on involvement or serious responsibilities at the company. He cannot negotiate deals or sell any products at 7BC Venture Capital. He can and does enjoy sharing his knowledge and experience. LP’s at 7BC can be more involved, but Larry has elected not to be. That being said, things are getting more interesting at 7BC. This company is fairly new, but it has strong roots. Andrew Romans, the CEO and a General Partner was and is also the CEO and a GP at Rubicon.vc. Rubicon Fund I did well, and Rubicon Fund II is doing very well. 7BC is Andrew’s 3rd fund, it has closed, and the 4th fund is taking investments. Andrew had the foresight to negotiate pro rata equity rights and information rights while at Rubicon, and those rights are now in the possession of 7BC. Such rights can be a powerful asset in future investments. Besides his investments in 7BC and Rubicon Larry has made some introductions, participated in brainstorming, and has served as a sounding board for Andrew to practice his pitches. He does scout new portfolio companies to invest in, and he does talk to other possible potential investors. He likes to point out that he even attended a party once. He looks forward to meeting other GP’s, LP’s, VP’s, etc at 7BC. (I know that is a lot of acronyms, sorry. That’s General Partners, Limited Partners, Venture Partners, etc at 7 Borderless Continents.) Best Wishes!

Accredited Investor/Entrepreneur

1978

I started my first entrepreneurship at the age of 18 when I bought a taxi. That was 3 months after high school. I put myself through college as a cabby. After graduating I soon had 2 franchises, 2 cars, and a lot of drivers filling all the shifts I didn’t do myself. I built a successful limousine company, eLimos from 1995 to 2004. By many measures it was a best in class operation serving many celebrity and billionaire clients. Before exiting (selling the company) in 2004 I started investing on the side. I dabbled in stocks and funds, and I also got into real estate. I have been very lucky in real estate. Two of my favorite deals virtually landed on my lap. During a casual conversation with a friend I learned he was working on a good deal. He needed a partner. I went from 0 to 60 in 5 days. I wasn’t looking for real estate at the time, but 5 days later we had an accepted offer. Another friend told me of a property in distress. His eccentric dysfunctional landlord was not paying property taxes. The property was about to foreclose. It was a bargain. I gave my friend a generous piece of the action and closed the deal. Besides being a good investment on the front end, I later subdivided the large property and sold off the pieces to realize an even greater gain. I also spent a couple years tech investing in Silicon Valley. I got into a VC fund called Rubicon Capital 2, I was the first investor at Sturfee, and I bought some shares in Trunity. I feel I have been lucky but I also prepared, worked hard, and invested conservatively. I have done property management, bookkeeping, accounting, taxes, maintenance, repairs, administration, cleaning toilets, etc. Strong cash reserves enabled me to move quickly when the right deals came along. I got through The Great Recession of 2008 because fortunately I got into real estate 4 years before the recession, and I didn’t leverage heavily. I am happy with the way things have worked out. I am looking forward to my next adventures.

Real Estate Investor

1980

As an investment class, Real Estate (RE) is considered to be safe, conservative, and a good hedge against inflation, thus I keep some in my personal portfolio. You have probably heard the old saying about real estate: “They’re not making any more of it.” That’s a truth which keeps the supply side limited, and the demand side growing. I challenge the notion that real estate (RE) investing is not risky. I was completely wiped once by a bad real estate investment. In 1991, I bought a condo. Two years later the market crashed, and I was broke. I hung on to the property, and about 10 years later the market recovered enough to break even. During the Great Recession LA properties came down 60% in 21 months, and Monterey prices dropped 74%. Those are crushing numbers. RE investing can also be unpleasant besides being a bad investment. I once had dog piss dripping from my ceiling, because my tenant’s Saint Bernard had urinated on the floor above. I had a SWAT team raid one of my rental units, because my tenant’s boyfriend had allegedly strangled a lady. I also had a tenant’s son get shot in a bad drug deal. I plucked shrapnel out of the door frame, had to patch several holes in walls, and spent over $4,000 replacing the AC system which had a large bullet hole in it (see photo). Pride of ownership is priceless, but it may still be worth trying to time the market and considering how long before your next move. RE cycles are a harsh reality that should be considered in any RE investment. They say you should not try to time the market, but if I had waited a couple more years before buying my first property in California it could have been an important life changing.. I have also had some very good experiences in real estate deals, so things have averaged out for me. It would have been easy to let my negative experiences in RE cloud my judgement, but I still own RE. If you are considering investing in RE take your time, and do your homework, it should pay off.

LP (Limited Partner)

2016

This is the most successful fund in the series managed by Andrew Romans, CEO and Founder.

Angel Investor

2016

I met Anil Cheriyadat, the founder of Sturfee in 2015, and wrote a check in the beginning of 2016 to become the first investor. That made me an Angel. I became an Angel Investor. Sturfee could become a unicorn soon. In Silicon Valley a unicorn is a billion dollar company. It might become a unicorn more slowly, and I don’t know what kind of animal that would be. This company has a lot of potential, and that is what drew me in. Most importantly Anil and Harini, the Co-Founders are impressive. They have built an awesome software company. They are diligent, hard working, highly educated, and great people all around. Their resumes are through the roof in terms of technical achievements, and they are definitely on a steep learning curve in running a startup. One of the best times I have had with them was when we got together with some early investors and family for a nice dinner at the Rosewood in Menlo Park. I was impressed that when I agreed to invest in Sturfee Anil did not accept any money right away. It was some months later when he told me he was ready. That shows discipline, restraint, and an intense appreciation for investor dollars. Perhaps Anil is too conservative. My tech investing when I started was not very sophisticated. You could say I was practicing the “spray and pray” strategy of angel investing whereby you invest all over and hope something works out. I did not make many investments, and my process was a little more serious than random. Today I am a little more savvy, and it looks like some of my prayers may be answered.

Actor

1985

SAG Member #: 1121 0986 I am an experienced SAG actor in Los Angeles. I have been a principal in many commercials, a music video, and an industrial film. I have worked in my hometown of Saskatoon and in Los Angeles. I have done thousands of hours of background acting and some modeling too. I was a stand-in and body double for Michael Keaton recently on the soon to be released Spider-Man: Homecoming. I also did stand-in work for Kevin Costner in No Way Out in 1985. I worked for a few years in the 80’s. Since February, 2017 I have been working my way back into the industry. My first agent was Judith Fontaine of the Judith Fontaine Talent and Modeling Agency in the Los Angeles market. It was a great agency. Through them I was able to get my first work as an actor. I was Taft-Hartley’d for a regional commercial for a food product. That allowed me to become eligible to join SAG-AFTRA. I learned some skills and lessons from my work as an actor. My acting is improving, and when I do good work I can feel it. I still have a keen eye for new talent. It may seem naive and optimistic, but I believe that truly good artists will succeed in Hollywood if they persist. The work ethic in Hollywood is impressive and respectable. The phrase “20 year overnight success” is truly meaningful in entertainment. I also grew to enjoy the work. Acting in Hollywood is fun. The work itself is the most fun and interesting part. Learning about movie making magic is thrilling. I also see fabulous homes and other locations and a lot of beautiful people. Some of the funniest and most entertaining people I have ever worked with were on sets. It seems like every background actor I work with is constantly practicing their material for the day when they appear on the talk show circuit. I hear plenty of good yarns between shots. The fun nature of the work makes the long days a pleasure and keeps me feeling young.

Stunt Driver, Precision Driver, Performance Driver

2018

SAG Member #: 1121 0986 In November of 2018 I took a 2-day, 1 weekend course in stunt driving, performance driving, and precision driving with Scotty Richards of Scotty’s Stunt and Tactical Driving Course, LLC. It was a great education with plenty of one on one schooling and time behind the wheel. I would recommend the class to anybody who loves driving and anyone who wants to work in the industry. Since then I have worked on shows like 9-1-1 and others. With my dual citizenship I can work in both Canada and the USA.

Accredited Investor

2015

Property Manager/Estate Manager

1981

Property management first became part of my life in 1981, when I bought my first house, in Saskatoon. It was a 2 BR 1 Ba bungalow with a 1 BR suite in the basement. At that point I got my first taste of property management and resident management. The house required some finishing. I lived in the basement for approximately 4 years before moving to Los Angeles. I briefly continued to manage the Canadian property remotely from California, which was also a good learning experience. Lesson #1: I should have kept the property and hired a property management company to manage it for me. Family was a great help in managing the property for me when I left town, but a discomfort came with relying on family. I sold it before long. Had I taken a more professional approach I may still own the property today. At the time I was too inexperienced to be aware of the concept of property management as a service. I also had a strong “do it yourself” mindset and general mistrust of others. These thought patterns were a product of the culture of the prairies and of a family bias. Thus, I was inhibited from growth and greater professionalism. There was a gap in my property management career until I started buying property in 2004. Now, I manage a commercial property, 2 residential lots, and a 2 bedroom bungalow in City Park. The peak door count I managed was 7 residential units in Texas and California. In my property management career I have managed acquisitions, dispositions both deemed and realized, commercial lease renewal, residential leasing, commercial and residential financing, loan modification, Human Resources, vendors, partnership contracts and negotiations, estate management, a tax audit, and a subdivision. I now have a wide range of high stakes, deep learning experiences in property management. I want to learn more. Next? Maybe RE development. I also want to prepare myself for the disruption to the industry that Artificial Intelligence will bring. The future will be fun!