DISQUS

VC Watcher · 1 year ago

Oh yes, the "if it's not profitable, let's open more and make it up volume" ploy. Talk about smart money thinking.

Markz · 1 year ago

As always, entepreneur beware -- entrepreneurs are always dispensable, or so this story says.

If some of these funds are producing "mediocre results" though, I assume they would not have been able to raise capital? Presumably the returns are still above those available elsewhere, and that's why these VCs were able to raise money.

The better question for LPs is: Could I do better investing in a different VC? Another reasons for LPs to *demand* VCs publish performance.

AnLP · 1 year ago

What would be an interesting story, of value to VentureBeat's audience, is the web linking failed (or failing) venture firms and partners. For instance, how many know of the many deals in which Oak and Worldview invested in together? And how few of those deals went anywhere? and how most of them failed and miserably at that? Consider Commverge Solutions, an integrator of sorts for the telecoms. Founded and run by Edmund Wei, the brother of James Wei who founded and ran Worldview who led that firm and Oak, among some others, to pump in over $150M into Commverge only to see it all vanish. Move on to companies such as OnStor, Azul, ...and you'll find confirmation of the theory that cockroaches travel in packs. Oak, Worldview, Crescendo, ...Kevin Fong from Mayfield became part of that pack and the results he brought in forced his partners to oust him from the firm.

Matt, how about a story on this web of ill-fated venture firms, partners, and their investments?

Tim · 1 year ago

I worked for the company during the dotcom heyday.

It was a phenomenal experience!

At one point we were considering buying a blimp, NACSAR logo placement, and hiring Gary Busey. And that was just one meeting.

If it weren't for an incident involving an elevator, too much tequila, and too little supervision, I could have been a VP.

VC Watcher · 1 year ago

Matt, isn't Kevin Fong *still* a partner at Mayfield, and not "ousted" from the firm as AnLP states? Last I heard, he's doing investments in China.

Matt Marshall · 1 year ago

Kevin Fong has exited the firm, and is indeed doing investments in China. We wrote a story about it several weeks ago. I thought Yogen was pretty frank with me. He said Fong decided to leave, and the limited partners didn't have a problem with that.

http://tinyurl.com/2uxbmq

Bad Babystyle · 1 year ago

Hello,
I know my comments may not be what you expect but I want the world to know how Babystyle is treating their customers now.

I bought a Bugaboo stroller a few months ago at the Austin, Tx Babystyle store because I would get $100.00 of "Babystyle Bucks" and I would get a more convenient service than if I was buying it online to an other company.
We decided to do this even if it was more expensive.

And yesterday I went to the same store in Barton Creek and the employee told me I could not use my "Babystyle Bucks" because they were closing the store in Austin...
UNBELIEVABLE!!!!!!!!!
She told me the closest store would be in Dallas, TX...it is 6 hours roundtrip from Austin!!!!!!!!!
She also told me they were closing 4 other stores because the company was in bad shape. So be careful, do not buy anything in their store because you can get "Babystyle Bucks" ...because you may not be able to use them...ever...

She told me that a lot of customers were feeling the same way as I felt and that I could call the customer service.
I did it this morning and the rep I talk to was not more helpful and told me the same thing.

This is not right...it's a ripoff!!
D

KZ · 1 year ago

Babybucks...that is a shame. I personally feel sorry for all of those people losing their jobs at Babystyle. I'm sure they don't deserve all of those angry customers and their comments.