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December 30, 2004 » 10:31 pm

Self-Deprecating Venture Capitalists

From my buddy Scott Foehner: Check out Bessemer Venture Partnersanti-portfolio. Excerpts of some funny (and painful) missed opportunities:    (GFB)

eBay: “Stamps? Coins? Comic books? You’ve GOT to be kidding,” thought Cowan. “No-brainer pass.”    (GFC)

Federal Express: Incredibly, BVP passed on Federal Express seven times.    (GFD)

Google: Cowan’s college friend rented her garage to Sergey and Larry for their first year. In 1999 and 2000 she tried to introduce Cowan to “these two really smart Stanford students writing a search engine”. Students? A new search engine? In the most important moment ever for Bessemer’s anti-portfolio, Cowan asked her, “How can I get out of this house without going anywhere near your garage?”    (GFE)

Gotta appreciate VCs with a sense of humor.    (GFF)

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