A VC« Line of the Day/Song of the Day | Main | Quote of the Day »
VC Cliché of the Week
Last month my friend Seth sent me an email asking me to explain one of my favorites, "there's a pony in there somewhere".
So often I see something and my gut says that there's something interesting going on but at face value it's just not very compelling. And that's when I claim that there's a pony in there somewhere to my colleagues.
But I don't recall where I got that phrase. So I went looking on the Internet (check my search query history on the lower right sidebar for proof) and this is what I got back:
the familiar story of the optimist who is sent to Hell and discovers that he's up to his shoulders in manure. He immediately jumps into the pile of manure and gleefully starts swimming around. A pessimist walks up (they always do) and asks the optimist why he's so happy. The optimist replies that with all this manure, there's got to be a pony somewhere.
That's me, the optimist. I always want to try to find the pony.
Being a VC is a gift because we get to see so many ideas and so many entrepreneurs. We are exposed to cutting edge thinking every day. And it's impossible not to build a map in your brain of all that data. Sometimes you see something that fits into that map, but just not the way the entepreneur sees it. That's when I think there's a pony in there. It's like I even know where it is.
What you do with that insight is more tricky because most entrepreneurs don't want to hear that their plan, their vision, their current direction isn't where they should be going. Sometimes I'll give them the pony line. Sometimes I won't. It largely depends on how well I know them, how willing I think they are to hear a different idea.
Swimming in shit trying to find the pony isn't easy work. But I find myself being pulled toward it time and time again. Because finding the pony and riding it is a lot of fun, particularly if it's an orange one like the photo at the start of this post!
September 6, 2006 Venture Capital and Technology | Comments (12)
Comments
Giddyap!
Posted by: Charlie | Sep 6, 2006 7:48:12 AM
Hi Fred.
This is easily the best blog post I have read in many weeks. So much so, that I believe you have the makings of an interesting book (entitled, of course, There's a Pony in There Somewhere).
When you look carefully at the entrepreneurs who are ultimately successful, "the pony factor" ranks up there in the top 3 elements. In my opinion, it ranks even higher than "the money factor."
Optimism and confidence in yourself, your team, and your vision (and knowing there is a pony residing in each) take the entrepreneur across the finish line successfully.
Your words will echo in my mind each day as I jump in and begin to wade. Thank you for such a thought-provoking post.
Posted by: Susie deVille Schiffli | Sep 6, 2006 7:53:13 AM
Isn't that kind of what Malcolm Gladwell's Blink is about? Where your gut knows something your head can't figure out? I guess if you spend enough time around teams, entrepreneurs and ideas you build a Pony radar, some ideas have Ponys in there somewhere, some more manure than Pony. Great post.
Posted by: Farhan Lalji | Sep 6, 2006 8:46:25 AM
That reminds me of another saying:"Don't wrestle with the pig. You both get dirty. Only the pig likes it."
Posted by: soxiam | Sep 6, 2006 9:01:58 AM
I usually hear this one from bankruptcy / "special situations" professionals. Usually I hear about "finding the pony in the pile" which has the benefit of a little alliteration. Version of the joke I have heard involves a little girl and a pile, but has same punchline and same basic idea.
Posted by: John Nowaczyk | Sep 6, 2006 9:02:29 AM
As an ex comic there are just way too many funny lines on this setup so I will just leave it alone.
Did I just find a pony?
Posted by: howard lindzon | Sep 6, 2006 9:42:32 AM
Speaking of...I had heard the pessimist says the glass is half-empty, the optimist says the glass is half full, and the engineer says you have twice as much glass as you really need.
:)
Posted by: Doug Karr | Sep 6, 2006 9:51:53 AM
the "pony" joke was one of ronald reagan's all-time favorites, a tale he told so often and so well it essentially became one his signature gestures:
http://www.cbsnews.com/stories/2003/07/30/earlyshow/leisure/books/main565830.shtml
Posted by: steve | Sep 6, 2006 10:11:10 AM
I'm in the Salvage business on the side. I do IT consulting during the day and so Salvage on my own time.
Finding the "Pony in the Pile" is what salvage is all about. Truck tips over on the highway? The cargo is my "Pony in the Pile." Got excess or out of date inventory? That's my "Pony in the Pile."
I love finding Ponies in the Pile, although I have never heard the term before.
Posted by: Jim Eiden | Sep 6, 2006 2:15:19 PM
That was one of Ronald Reagan's favorite stories. Talk about eternal optimists...
Posted by: Nancy Friedman | Sep 6, 2006 11:03:47 PM
Fred,
As a long time reader of your blog, I wanted to let you know how truly offended I was by your post.
http://www.efpony.com/blog/2006/09/a_total_outrage.html
Sincerely,
E. Frederick Pony, Esq.
Posted by: E. Frederick Pony, Esq | Sep 7, 2006 12:21:28 PM
Actually, the version of the story I heard years ago carries a nearly opposite meaning, and one that seems rather more insightful.
*********
After being asked a dozen times by his father, a farm boy still would not pitch the manure pile outside the stables into the wagon to be hauled away. His father knew the boy wanted a pony more than anything, so he told him "I finally got you the pony you wanted, but it's hidden in the manure pile. When you pitch the pile into the wagon and find it, you can keep the pony."
The boy immediately set to work and, hours later, the pile got smaller and smaller and still no pony. His father came by, felt remorseful, and confessed to the boy he had lied just to get him to work, and walked away.
The boy stared blankly at the pile for few minutes in disbelief and confusion, and then said to himself, "There's got to be a pony in there somewhere" and continued digging.
*********
See the difference?
Posted by: Tom | Sep 8, 2006 12:13:41 PM
Main RSS Feed of All Posts
VC and Technology Posts Only
