VC Cliche of the Week

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VC Cliche of the Week

I realized sometime this afternoon that I had forgotten to do my VC Cliche of the Week post.

I am nothing if not a creature of habit, so it's been bugging me ever since and I feel the need to post my cliche before calling it a night.

So it was serendipity that in a conversation with another VC at the Web 2.0 conference today we got talking about a VC firm and a particular VC that was taking great glee in a recent homerun deal.

Except for the fact that the VC in question was a vocal critic of the deal within his firm until the investment turned out so well.

It reminded me of the cliche that success has a thousand fathers.

You can count on it - when a deal works out spectacularly everyone involved will take credit for it.

This behavior is particularly annoying to the entrepreneurs who put the sweat, blood, and tears into the Company.

They watch the VCs take credit for the big success and it grates on them.

I have a couple rules that I try very hard to live by in this regard:

1- the management team always gets the credit. VCs don't do the dirty work and should not get the accolades when things work out.

2 - don't gloat. it's not becoming. humility in times of great success is a very becoming characteristic.

But it's really hard to follow these rules when things work out well. Because success doesn't come that often, and when it does, it has a thousand fathers.

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Posted October 6, 2005 in Venture Capital and Technology

Comments

I believe the entire quote is "Success has a thousand fathers; failure, none." This just adds to the power of this one. Great series - thanks.

Posted by: Richard Dale | Oct 6, 2005 7:29:17 AM

They also say failure is an orphan. Unfortunately, it tends to be true.

There is a beautiful, timeless ideology out there that people should only care for the success of others.

It sort of works like a network effect. If we only care for the success of others and the perspective is shared, then for every individual, there will be a collective of others cheerleading for him or her self- as different to just one person being concerned for just one other person (him/her self).

I've always found that a beautiful ideology...however fleeting. Maybe in a perfect world, we will only care for others and cut our ties with individual egos. It seems like the mathematically correct thing to do.

Posted by: Daniel Nerezov | Oct 6, 2005 2:04:00 PM

Totally true! I don't get VCs who claim credit for companies' success. They can certainly claim credit for a track record of picking the right teams going after the right opportunities. Being a good investor is hard enough and very meritworthy.

But claiming credit for the entrepreneurs' work? Bogus.

Posted by: just.a.guy | Oct 7, 2005 4:10:01 PM

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