Would They Burn Their House Down For You?
Was talking to a venture guy about another venture guy. I told him I met a person who was really experienced in VC and had done well while I was in Silicon Valley. He was impressed that I got the chance to speak with this particular guy.
He said that this particular guy had made several successful investments. The last one he owned a big chunk of, and it sold for multiple billions. He’d done well.
In the same breath though, he said, “If he believed in your company he’d burn his own house down to help you.”
I remember when I would talk with my friend Dick Kiphart in Chicago about investing. He told me that on one investment, he had to take out a second mortgage on his house to keep the company in business. The company made it and he did well, But, he assumed an awful lot of risk to make it happen. Plus, he wasn’t operating the company and turned over control to someone else!
I think that is what separates a lot of VCs from other VCs. To some it’s a job. To some, it’s a go between before they find their next gig. To some it’s a mission.
Source: http://pointsandfigures.com/2018/02/25/would-they-burn-their-house-down-for-you/
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