Exclusive outtakes from industry leaders
Whether it’s passing up on a ticket to Woodstock or not buying Apple stock at $80 a share in January 2009, everybody has regrets.
So what do VCs regret?
We asked the panel of three money-men gathered for the VC Panel at the Reuters Technology Summit for their biggest laments when it comes to the deals they let get away.
“For me the one that comes to mind is AdMob,” said Khosla Ventures partner David Weiden, referring to the mobile advertising firm that Google announced plans to acquire for $750 million in November.
“I talked to Omar (Hamoui, AdMob’s founder and CEO) when he was one employee and spent a bunch of time with him early on and then we didn’t end up doing the investment together and I absolutely regret that,” he said.
For Matt Murphy, partner with influential Silicon Valley Venture fund Kleiner Perkins and point person on the firm's iFund, old-school is still the way to go.
During an interview at the Reuters technology summit, the VC said picking the right startups to back was tough, given that he had received 8,000 business plans for iFund, which invests in iPhone and iPad applications.
Jesse Draper, formerly of the short-lived Nickelodeon series “Naked Brothers Band”, and Sharon Lee are the brains, and the feather boas, behind “Valley Girl”: a 60 minutes-meets-MTV online chat show that in just one season has hosted some of the biggest names in Silicon Valley on its pink satin sofa. Or, as Jesse herself puts it: “Where Silicon Valley’s Best meet Hollywood”. Totally.
IBM’s Chief Financial Officer Mark Loughridge didn’t have much to say about Oracle’s planned purchase of Sun Microsystems at the Reuters Global Technology Summit.
I don’t see that much has changed in this. They have been partnering for decades. It doesn’t fundamentally change the position” in the industry.