Pro Tip VCs: $15m to a de-risked business isn’t a Series A

On the eve of my moving to Silicon Valley at the peak of the last bubble, I was playing Trivial Pursuit with my family.

The question in Science and Technology I got was: What four letter word do venture capitalists savor like a fine cigar? I laughed out loud because I’d just accepted a job on the other side of the country to cover just that. The answer was of course: Risk. I found it such an odd question and such a statement of the zeitgeist -- given how little known venture capital even was as a thing before the dot com bubble-- that I snagged it and hung it up in my first reporter cube out here.

That answer is still laughable today, but for a different reason. I can come up with a few better for letter answers: FOMO. Bro’s. “Pile on to a sure thing” could perhaps be abbreviated to “POST”? As in: “We got a $1 billion [pile onto a sure thing]-money valuation.”

Seriously, what is wrong with Sand Hill Road?

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