The Anti-Portfolio of a VC company
Bessemer Venture Partnershas been Venture Capital investing since 1911. While they’ve had their successes (Skype), they’ve had their complete screw ups as well. Perhaps their worst pass? Google.
‘Cowan’s college friend rented her garage to Sergey and Larry for their first year. In 1999 and 2000 she tried to introduce Cowan to “these two really smart Stanford students writing a search engine’. Students? A new search engine? In the most important moment ever for Bessemer’s anti-portfolio, Cowan asked her, ‘How can I get out of this house without going anywhere near your garage?’