Perspective, Pontification and Propoganda about Entrepreneurship and Venture Capital, brought to you by David Hornik of Lobby Capital.

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michael sippey

Ah, such sweet irony.

From the Feb 26 post on the value of iterative design: "While we all aim to be perfect the first time around, it is a pipe dream. Great products and services are born out of trial and error."

From this post: "While it may be unrealistic to suggest that NASA or any startup can take big risks to develop transformative technology and reject failure as even a possibility, yet that is precisely what we VCs are looking for and demanding of our startups."

Failing faster and evolving sooner is the obvious response, but would you have had the patience to sustain the Handspring team if the Treo 300 was their first product to market?

David Hornik

Indeed, it is ironic. As was the final line of this post. I certainly didn't say I was defending Venture Capitalists for demanding risk and perfection at the same time. Quite to the contrary. I simply said that it was a characteristic and unrealistic demand.

Con Tendem

Hm. It seems to me the party line is pretty clear, if tricky to navigate. "It is ok to fail as long as you do not fail because you have a bad team or made a poor bet on technology you did not understand or use properly" When assessing risk for your next venture VCs are going to take the cause of failure into account...

How true this really is would probably depend on very specific VCs you deal with, how much money was lost, and exact reasons it was lost.

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VCs you deal with, how much money was lost, and exact reasons it was lost.

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