Mind, for a VC. A VC needs at least 100x on their investment. You don't realistically get that unless you invest very very early or you exit to a strategic acqu

Mind, for a VC. A VC needs at least 100x on their investment. You don't realistically get that unless you invest very very early or you exit to a strategic acquirer, and most acquisitions aren't by strategic acquirers. That stake was likely worth hundreds of thousands if not millions of dollars, but to KPCB it wasn't worth the hassle to find someone willing to pay that. They know they make a loss on most of their investments.