In Venture Capital, Birds of a Feather Lose Money Together

Posted by jcr on Sunday June 29, 2014 @06:52AM
from the hbswk.hbs.edu dept.

http://hbswk.hbs.edu/item/7316

( 2 comments | 2 points | on HN )

Re:In Venture Capital, Birds of a Feather Lose Money Together by jcr on Sunday June 29, 2014 @06:53AM (#7960869)

It seems there are a few different versions of the mentioned "The Cost of Friendship" paper. The article links to a paywalled version from 2012, but two updated drafts (April 2013 and April 2014) exist, and are freely available:

Draft April 2013:

https://businessdev.drupal.ku.edu/sites/businessdev.drupal.k...

Draft April 2014:

http://people.hbs.edu/yxuan/gompersmukharlyamovxuancostoffri...

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Re:In Venture Capital, Birds of a Feather Lose Money Together by Choronzon on Sunday June 29, 2014 @10:22AM (#7961241)

A VC may win by maximising profit but a VC employee has to protect his reputation."We made a mistake but so did everyone else" is an unfortunately successful defence.

“Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.” Keynes

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