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Adam Dell's remark about helicopters, which saved me from a margin call

Santa Fe, New York, and the hundred-million remark

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Parts of this entry are out of date. It is published anyway, because an incomplete record that invites correction is more useful than no record at all.

Person

Who this is

Venture investor and founder; brother of Michael Dell. Jonathan Hare met him at a Santa Fe Institute seminar and they were good friends for a year or two around 2000.

S-100 adds the origin and the substrate: the 1998 SFI trustees reception where Hare introduced himself entirely as a pretext to meet Alisa Mall and only later realized the 'Adam' with the small 'Dell' beneath it was the venture capitalist, SFI trustee and brother of Michael — and the Mercer Street doorman apartment in SoHo that became a base of operations for the friendship, with Camilla Olson's orbit, the Ulf Ekberg introduction, and the Billy Zane nights radiating from it.

S-101 fills the Mercer Street era to the address: 158 Mercer in SoHo — the block's only doorman building, down from the Mercer Hotel where Hare frequently stayed — with roommate Ed Triestman and assistant Vanessa coordinating; a professional network running through Crosspoint's John Mumford, investments in NTE and BuzzSaw, a $100M New York fund, teaching venture capital at Columbia, and friendships with Bill Gurley and Michael Mauboussin. Olchi's verdict on him — the Texas guy — stands on her page as the era's best line.

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The trail exists so that people who were there can reconstruct their own memories, recognize what they helped incubate, and add to or correct the record — or forward the few pages that belong to someone they know.

c. 2000–2001

The remark that cost Hare his position

Sitting with friends in New York, Dell mentioned in passing that a hundred million was the minimum he personally needed — for sustainable helicopter and fractional jet ownership, provided you did not squander too much on real estate. It was an observation about his own arrangements, not counsel. Hare turned it into a reason to hold his Evolve position against margin calls. Dell was right; the inference was Hare's own.

Hare's accountAuthor's direct narrative — see source record S-007
October 2000

The Hudson Hotel

Hare brought him to the Halloween party where they met Prince Andrew. Dell made a mildly off-color joke that did not land.

Hare's accountAuthor's direct narrative — see source record S-010
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Everything above is a distillation. The primary source is published in full, so that any claim on this page can be walked back to what was actually said — and where the two differ, the source governs.

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