Marc Andreessen

On the venture side, I think every time we passed on a promising venture company over price, I think it's been a mistake.

On the venture side, I think every time we passed on a promising venture company over price, I think it's been a mistake.

I think the underlying question, and tell me if you agree with this, the underlying question is the question of diamonds in the rough.

I think the underlying question, and tell me if you agree with this, the underlying question is the question of diamonds in the rough.

Is that right?

Is that right?

Whenever I've done a good deal, it's never worked out.

Whenever I've done a good deal, it's never worked out.

That's right.

That's right.

Okay, so here's another thing we say in the firm, which is don't ever do diamonds in the rough, only do diamonds.

Okay, so here's another thing we say in the firm, which is don't ever do diamonds in the rough, only do diamonds.

So this is another thing.

So this is another thing.

This is actually an investor ego thing, I think.

This is actually an investor ego thing, I think.

which is you basically say, wow, I'm the investor that's going to go find the thing that nobody else knows about.

which is you basically say, wow, I'm the investor that's going to go find the thing that nobody else knows about.

Another form of this would be like, you know, all these other investors are herd animals.

Another form of this would be like, you know, all these other investors are herd animals.