DISQUS

Soso Sazesh · 1 year ago

Interesting post. BTW, your link to TheFunded points to VentureBeat.

Owen Byrne · 1 year ago

You should read the Philip Greenspun/Ars Digita story. VCs have been suing people (in this case the founder they funded) to protect their reputations since at least 2001.

http://waxy.org/random/arsdigita/

John Doe · 1 year ago

It seems like whitewashing, but I am always open to any VC.

I will do my fair search on the internet to check out a VC's background and I think it is great your team is reporting this.

AnLP · 1 year ago

About two years ago VentureBeat (then SiliconBeat) reported on Worldview's inability to raise a fund and said that firm was likely "closing down." Numerous entrepreneurs and executives experienced in working with Worldview commented on the problems they experienced with that firm, naming partners such as Mike Orsak specifically as very difficult to work with and likely to snatch defeat from the jaws of victory. One or two executives still on the payroll of companies on whose boards Mike Orsak sat piped in speaking in favor of him. And Worldview denied they were closing down forcing VentureBeat and even PEHub to amend their story to "not closing down but still in business with existing funds..."

Guess what? VentureBeat and PEHub and others were right. Worldview is shutting down. Their partner, Colin Savage, left. Their founder, James Wei, recently admitted in public and to reporters that they have wound down several of their investments and will soon get out of the few they still hold. He also said we are to expect more GP departures. And so on, all confirming the initial story you had on Worldview and the numerous comments that were sent in. All in contrast to the few "positive" comments that those that were still getting their salaries from Worldview (guess what, those companies are shut down and those executives fired and are they willing to talk now?)

Moral of the story here is that VentureBeat and PEHub and others do valuable service to entrepreneurs in reporting the shady behavior and track record of venture firms and partners. It helps direct new entrepreneurs to more deserving firms and partners and the value for that is unquestionably positive and good and up and up. Anything involving whitewashing, denials, etc. doesn't serve anyone's interests other than those venture firms and partners attempting to benefit.

Hogwash! · 1 year ago

The "victims" at GHV have a way of twisting the facts and exaggerating their capabilities. If you read the comments written by some of the other submitters on The Funded, it indicates that GHV has a record that is not quite as rosy as Martinez would like the world to believe.

If it walks like a duck.

no-saying · 1 year ago

Life is too short. Any negative review - forget it. There are enough VCs and other sources of money out there. It just is not worth it to take a chance on a bad VC apple. All three firms have gone on my "no list".

rick · 1 year ago

I'll say this, I like TheFunded and have contributed both positive and negative reviews of VCs I've worked with.

Further, you'll notice both extremely positive and harsh negative comments on lots of guys listed in there. It's all a matter of perspective. Like with any anonymous comment system though, you have to take it all with a grain of salt.

Here's where TheFunded adds value for me: People will share their operational experience - like, "I found this guy to have little power in the firm so it'd be wise to approach through a different partner."

that and I got to post a cathartic rant against one of the bigger dolts I've worked with. So, you know, take that with a grain of salt.

Simon · 1 year ago

Nothing new about VCs protecting their names. They realize that their brand is their only product. Recently VCs have been very diligent coordinating efforts to counter negative publicitiees. Early articles from Venturebeat about Worldview and Crescendo pretty much killed those funds, not to say that those funds would have survived without Venturebeat publicity. Since then, an article on Bay partners was followed by a very coordinated flow of positive comments from entrepreneurs within 4 to 5 hours of initial posting. Is it a coincidence? Highly unlikely that the entrepreneurs have time to trol Venturebeat (despite its great content) to have responded in such a short time frame. Bay obviously called them to urge their responses as they know blog comments, if not refuted early, can get out of control. This is serious stuff for VCs. Expect more of these supressions going forward.

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