Misses

Learning from misses can provide valuable lessons, especially in venture investing. Here are insights from several experts on their biggest misses and what they learned:

1. Kevin Weil mentions understanding the importance of the environment alongside individual abilities. He missed investing in companies founded by colleagues he underestimated due to their previous work context 1.

2. Wes Chan reflects on his hesitation to invest in Twilio despite relevant expertise in telecom. He notes that being an expert can lead to bias and suggests trusting founders even if you know the industry deeply 2.

3. Fabrice Grinda discusses multiple misses, such as passing on Zynga, due to a narrow focus on marketplaces. He emphasizes the importance of backing extraordinary founders and recognizing opportunities even if they don't perfectly fit existing criteria 3.

   Learning from Misses

   Kevin Weil

   Harry Stebbings

   Kevin and Harry discuss their biggest misses in investing and the lessons learned. They emphasize the importance of considering both the individuals and the environment when evaluating potential opportunities.

   

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4. Anton Levy stresses the need for conviction in investment decisions, sharing his miss with Facebook at a $5 billion valuation. He advises not to be easily swayed by opposing opinions if strong conviction persists 4.

5. Sheel Mohnot highlights misjudgments like undervaluing Robinhood. He learned the importance of recognizing unique elements in what seemed similar to past failed models 5.

Embracing misses and re-evaluating biases can help make better investment decisions and identify transformative opportunities.