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December 20, 2006

Executive Shuffle At Revver Shows Video Sharing is Tough Business

posted by MR WAVETHEORY at 12/20/2006 10:41:00 PM
It's not easy starting a business. It's even harder picking the right ones to back. Just look at the shuffle at Revver which was backed by Bessemer Venture Partners, and you see how fickle VCs can be these days. They all want quick exits and they fast to pull the killshot on the executive management team that seems to be uber uncool. For one, I think that is the wrong approach.

Companies are built by teams and shuffling teams like shuffling a deck of cards in Vegas helps no one, because it throws all the entrepreneurial learning out the window. After all, how can anyone expect a few young entrepreneurs to act like seasoned executives in an industry where the business model is yet unknown? When you back guys like Ian Clarke and Oliver Luckett, you are betting that they're able to come up with something innovative through experimentation. Experiments fail often, and if Google has taught us anything, it's that it's ok to fail when you experiment because if you run enough of them often enough, one of them will hit the big jackpot.

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