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Hahaha, I'm replying to all your comments: > A good investor would have said to the Homejoy team "we believe in you and will back you in any viable business ve
by visakanv 11y ago
Hahaha, I'm replying to all your comments:
> A good investor would have said to the Homejoy team "we believe in you and will back you in any viable business venture, but the home cleaning market is not a problem that will be solved by technology. Go and find something better and we will talk - here is $50K so you don’t starve in the mean time."
I think the investors think, "Hmm, I don't think the home cleaning market will be solved by technology, but the hell do I know? The last 3 times I said that, I was wrong, and my competitors made hella bank. Screw it, let's do it. They seem smart. They'll figure it out. And if they fail and make something better next time, we have the relationship."
I totally agree with you about the need for prudence, by the way. But I'm not a VC, and I haven't experienced the pressures and challenges that a VC must face. The same "it's easy to judge the man in the arena" idea applies.
- danieltillett 11y agoThere is a difference between taking risks and just throwing money at anything and hoping something sticks. VCs should take risks, but they should be evaluating risks otherwise why should they exist - if the limited partners just want to throw money around at random then they don’t need someone taking 2&20 getting in the way.