alarm:clock: <strong>We're Down with OVP</strong>

News & Updates - Monday, November 22, 2004

We're Down with OVP

Mad props to OVP, the Seattle-based VC firm that recently added a "deals missed" page to its site. As the name suggests, this is a rare instance of a VC firm coming down from on high and exposing its flaws. VCs act on hunches - and those hunches are often dead wrong.

Here's a gem: "A guy walks into your office in the late 1980’s and says he wants to open a chain of retail shops selling a commodity product you can get anywhere for 25 cents, but he will charge 2 dollars. Of course, you listen politely, and then fall off your chair laughing when he leaves. Howard Shultz didn’t see this as humorous. And we didn’t make 500 times our money."

Read: The Insider: Venture capital firm lists lost deals - [Seattle P-I]

alarm:clock

We're Down with OVP

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