2009 ISSUE
VC NON-ADMISSIONS
THINGS A VC WILL NEVER SAY
Courtesy of

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
HUMILITY
“QUITE FRANKLY, I’M NOT THE SMARTEST PERSON IN THE ROOM.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
AVAILABILITY
“MONDAYS AND FRIDAYS ARE NOT GOOD FOR ME BECAUSE
THEY IMPINGE ON MY LONG WEEKENDS IN TAHOE.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
COMPETENCE
“I’VE NEVER RUN A REAL BUSINESS, AND I’M NOT
GOING TO TELL YOU HOW TO RUN YOURS NOW.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
CONFIDENCE
“I WILL NOT LET MY ABSENCE OF DIRECT EXPERIENCE
REDUCE THE INTENSITY OF MY OPINION.”

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SELF-AWARENESS
“I’M STEPPING OFF THE BOARD SO YOU CAN FILL THE SEAT WITH
SOMEONE WHO KNOWS SOMETHING ABOUT ANYTHING.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
HONESTY
“IN HINDSIGHT, MANAGEMENT WAS RIGHT AFTER ALL.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
ACCEPTANCE
“THE ONLY VALUE WE BRING TO THE DEAL IS MONEY.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
ATTENTIVENESS
“IT WAS RUDE OF ME TO CHECK MY
BLACKBERRY DURING THE MEETING.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
GRATITUDE
“MANAGEMENT’S STRATEGIC DECISIONS TWO YEARS AGO WERE EXCELLENT.
HERE’S 5% MORE OF THE COMPANY AS A REWARD.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
PREPARATION
“I DIDN’T REVIEW THE BOARD PACKAGE AND AM NOT READY
TO BE A CONSTRUCTIVE VOICE IN THE MEETING.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
PATIENCE
“WE HAVE NO TIMELINES FOR FORCED LIQUIDITY.
YOU’LL KNOW WHEN THE TIME IS RIGHT TO EXIT.”

VC Non-Admission # 1 2 3 4 5 6 7 8 9 10 11 12
EXPERIENCE
“I KNOW NOTHING ABOUT YOUR PRODUCT OR MARKET, BUT
MY FIRM THINKS WE NEED TO BE INVESTING IN THIS SPACE. “

i > u
“JUST ONE BOARD MEETING OUGHT TO PROVE IT. “