semilshah
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@bgoldberg that's fair. i'd give Hartz the benefit of the doubt. Also, sometimes late-stage money is value-add (in a Valley sense, or Wall St sense), and sometimes it's just optics for the street. I do think your overall point is important, though, and could be better applied to a company like Viddy.
@mattmireles but comparing Viddy to Eventbrite isn't quite right. Viddy was froth, a bet on the come; Eventbrite has strong fundamentals, and Hartz is very experienced (on both sides of the table), so this post misses the mark, IMO.
While I agree with the overall sentiment here, there are important caveats missing here, such as: the particular investors could add value in a way deemed valuable by the company; the company may want to acquire another entity for technology, revenue streams, or both; the company may be fielding acquisition offers and therefore determines having cash on hand will help put in a better negotiating position; and/or the company may feel the time to go public isn't quite right and that they want to remain private a bit longer.
I love the spirit of this piece, but I'd have to say that, at least for Silicon Valley startups, they only want to hire experts and not generalists.
My interpretation of Wilson's remarks is that he's talking about Series A, and not seed -- from what I gather, USV doesn't do many seeds anyway, except for rare occasions. I may have that wrong, since I don't know for sure. Nevertheless, I read this as Wilson making a good argument that for Series A, founders should pay attention to investors who hold a "reserve" model of funds for follow-on financings for Series B and beyond.
Excellent piece.
@elicolner What's your view of Quora within this framework?
Good article. Re: your ending, I'd say that they currently *are* the hot company, that's the perception.
wow nice.
Great story to add to the great technology, congrats to all.