Fund: Union Square Ventures
Posted by Anonymous on 2007-12-10
Fred Wilson has an excellent track record as an investor - he chooses wisely. He's approachable and willing to learn. He looks at a lot of stuff. He's relaxed and non-intimidating in meetings. I pitched him and he seemed interested and wanted to follow up. I left a copy of my plan.
He didn't like my plan, and I can understand that. It actually wasn't so good at the time. But his reason for not going forward was disingenuous. He commented that he thought our technology wasn't going to work, and it was clear he had no clue about the technology or the people behind it. I would much rather hear a straightforward "no" and a clear reason that makes sense than hear some brush-off comment that's not true just to get me to go away.
It's too bad. I like and respect Fred. I hope to be in position to get another round of capital as we grow, and I wouldn't go back to him because I felt he didn't respect me. It's tough being a VC - you have to treat everyone as though he's the next Sergei - but that's the job. I respect those who manage to do it with tact and class.PRIVATE: Members Only (267 Characters)