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> The people who work for GV do a lot of research before investing. Just out of curiosity, do you know this as a fact or is it speculation based on your assump
by mbesto 10y ago
> The people who work for GV do a lot of research before investing.
Just out of curiosity, do you know this as a fact or is it speculation based on your assumption of the prestige of individuals there?
> Average people are very bad at extrapolation.
I do technology due diligence for a living. I work with firms like GV and am always surprised by the general lack of researching conducted (look at DJF and Theranos as a great example where seemingly un-average people didn't extrapolate correctly)
> They'll have talked to the founders, and trusted that they can do it, and, GV will understand that if they're wrong they will lose a lot of money.
> GV has belief in the Magic Leap team, but that doesn't mean there isn't a huge risk in putting money in.
That's precisely my point. What specific data points do they (GV) have, that, as the GP points out, leads them to believe this will work. Data which if publicly available would lead techies like you and I to lead the same conclusion. Further, there is a large assumption that this same data/info wouldn't appear to materially change the course of the company's success. Oculus launch a beta early..why does that need to be the case for them? People are right to feel skeptical - the publicly available data points don't add up.
- mikeryan 10y agoI'm not sure Theranos is a great example for lack of due diligence. Most SV money stayed out of Theranos despite the hype because they couldn't get straight answers out of them on their tech. Obviously there were other investors jumping on board without sufficient due diligence but it wasn't the normal crop of SV VC. http://www.nytimes.com/2016/04/27/opinion/dont-blame-silicon-valley-for-theranos.html?_r=0 http://www.nytimes.com/2016/04/27/opinion/dont-blame-silicon...
- Fricken 10y agoTim Draper of DFJ invested in Theranos very early on. His parents were neighbours with Elizabeth Holmes when she was a kid, which kind of explains why they invested in Theranos. No other reputable VC firm would touch Theranos, and Holmes had paid several visits to GV and was turned down each time. GVs bigger bets are on Uber, which turned out well, Magic Leap, and Carbon, a snazzy 3d printing startup which appears to be a solid company with some really innovative tech.
- mbesto 10y ago> The company raised $32.36 million of Series C...Draper Fisher Jurvetson...on November 15, 2006, > The company raised $45 million of Series C1 venture funding out of a planned $100 million from Draper Fisher Jurvetson on July 8, 2010, putting the pre-money valuation at $1.1 billion. > The company raised an estimated $573 million of Series C2 venture funding from The Lucas Venture Group (Menlo Park), Draper Associates (San Mateo), Partner Fund Management (SF) and Sandbox Industries (Chicago) in March 2015, putting the pre-money valuation at $8.4 billion. BlueCross BlueShield Venture Partners also participated in this round.