And here is the control he said he exerted at the time (same link):
"It’s true the some VCs have started writing so many checks that they resemble stock pickers but the majority of us still have less than 10 board seats at any time and tend to go pretty deep so the result is that we care deeply about where we commit our time."
In my personal estimation, Perry saw the limitations of the technology years ago, but was not in any position to pivot her company single-handedly.
You can disagree with me if you want. But have you built a prototype that demonstrated functionality that got a VC to write you a check for $10 million?
You can go grovel to your board about a pivot they didn't sign up for. Or you can be Steve Jobs and lead, letting others follow or be left behind. The time to do that was three-four years ago (when Perry would have clearly seen the limitations of the technology at scale, and still had loads of money in the bank.)
https://bothsidesofthetable.com/the-audacious-plan-to-make-e...
And here is the control he said he exerted at the time (same link):
"It’s true the some VCs have started writing so many checks that they resemble stock pickers but the majority of us still have less than 10 board seats at any time and tend to go pretty deep so the result is that we care deeply about where we commit our time."
In my personal estimation, Perry saw the limitations of the technology years ago, but was not in any position to pivot her company single-handedly.
You can disagree with me if you want. But have you built a prototype that demonstrated functionality that got a VC to write you a check for $10 million?
You can go grovel to your board about a pivot they didn't sign up for. Or you can be Steve Jobs and lead, letting others follow or be left behind. The time to do that was three-four years ago (when Perry would have clearly seen the limitations of the technology at scale, and still had loads of money in the bank.)
I understand you disagree with this sentiment.