“Too Much of a Longshot for Us”

I’ve been thinking of starting a blog for years. Every day I interact with VCs, entrepreneurs, developers, geniuses, artists and even some conmen and gangsters along the way. I always tell myself, “I should be recording this experience.” So today is that day.

It started when I received this email from a VC (I will withhold his name), but lets call him Bob. Hes a nice a guy, New York-based, runs a pretty big early stage tech fund. Bob is a little older than most VCs, slightly “checked out” and often falls asleep during pitches (hope i’m not giving away his identity). Bob sent me an email this morning telling me, “Thanks for sharing. It still seems too much of a longshot for us.”

When you put your heart and soul into leaving your successful VC practice and launching a product that you hope will change the world, you are indeed a longshot. Thats the agony AND the beauty of the whole thing. But isn’t betting on “long shots” what being an early stage VC is all about?

This is the part that I have always found funny about the VC industry. The herd mentality always seems to prevail over personal logic and conviction. Yet the big successes in VC are all based on counterintuitive un-herdlike decisions. If you look it from a standpoint of outcomes — there are 2 possible outcomes for Bob: (1) Once I tell Bob that “so and so” big name VC is leading the round, its no longer such a longshot for Bob and he tells me he’d like to take another look, or (2) Bob tells his LPs the story about how he saw our startup in the early days but regrets passing on it. Either way, I suppose Bob is covered. But its another reminder that finding a truly valuable investor to lead your round is like finding a needle in a haystack.

CEO of Bizly, Lifelong Conquerer of Obstacles

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