Paroon Chadha: There is a nuanced point that I’m trying to make here. I love Chris like a brother. He has worked with me for 10 years. I don’t think there will be another person who’ll ever be smarter than him. At the same time, what we needed at that time was not something we
Sramana Mitra: One thing that I find very annoying of what venture capital allows entrepreneurs to do is ignore fundamentals. I think there is a very bad habit in venture-funded companies of ignoring fundamentals and delivering services at rates that are not sustainable. What are your thoughts on that? Dave Hornik: It’s bad investing. All
Sramana Mitra: A few trends questions. How do you process the current investment climate where capital is moving further and further upstream? How does a seed investor mitigate the Series A gap? Statistically, there has been a lot of micro-VCs in the market. There’re a lot of pre-seed, seed, and pre-Series A investments but the
Sramana Mitra: It sounds like when you did the cloud strategy, you almost did it with a different product. Even though the technology was the same, the positioning was quite different. The board technology was for the cloud software. Paroon Chadha: As an organization, we made the jump from being a Windows company to a
Dave Hornik: In the venture-backed world, there have been very few apps that have turned into big interesting things. There are big games that have gotten very large. Those are tricky businesses because while I’m currently still obsessed with Candy Crush, eventually you get tired of the game and stop playing. I am actually am
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Sramana Mitra: What you’re saying is that you are open to doing even pre-seed investments? Greg Sands: Yes. They tend to be in more experienced founders or people that we’ve known for a longer period of time. At ACME and Alation, we’ve invested, effectively a company formation. Sramana Mitra: I think that is the trend.
Paroon Chadha: We started to see some cross-pollination. We were pulling some leads that we didn’t really plan for. It was a little bit organic. We needed to move out of financial because the financial sector was stalling. We found ourselves selling in hospitals with some success. Then we ran into a very interesting founder