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This a typical example of VC rationalization, built on a sandy foundation of survivor's bias. YouTube's 'Why now?' might more accurately be answered, "because w
by vannevar 14y ago
This a typical example of VC rationalization, built on a sandy foundation of survivor's bias. YouTube's 'Why now?' might more accurately be answered, "because we just made people a ton of money on PayPal and there's a lot of venture capital sloshing around looking for a credible home." The company lost money for five years, so without the Google buyout, 'now' might not have turned out to be such a great time. Just ask MySpace, the number 2 video-sharing site when YouTube got snapped up. Good thing Moritz was on the Google board at the time of the investment. I wonder how many times Hurley and Chen had to rehearse to pitch to Sequoia?