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
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
Sramana Mitra: Is domain knowledge a big part of your process? Dave Hornik: It’s a part. There are two founders in a company called WePay. I wrote a blog post on Venture Blog about this. It talked about getting credibility if you have none. If you are a 20-year-old who’s building a business in a
Sramana Mitra: Let me turn the question around. If somebody came to you with an idea, give us some insight into your process of how you analyze and frame the idea. We can do this for some of your investments that have turned out really well but when they came to you, that was not
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Dave Hornik, August Capital was recorded in December 2014. Dave Hornik, General Partner, August Capital, as some of you may know, shocked the industry years ago by being the first VC to start blogging.