We were called crazy for investing in hardware when everyone said VCs couldn't make money there
“In particular, small early stage venture capitalists can never make money in hardware.”
Obviously, a true we've been incredibly early investors initially in web two. You mentioned WordPress, and there were many, many others. Yep. Obviously, we're one of the first investors in in device and hardware. I in with Fitbit in 2008, we were called crazy. We were called stupid. We were told, no. Venture capitalists aren't gonna make any money in hardware. In particular, small early stage venture capitalists can never make money in hardware. And, you know, that would go on. We were very early investors in in the early days of the cloud, in capital efficient cloud. We did extraordinarily well in that segment. And just sort of
About this clip
Jon Callaghan reflects on True Ventures' track record of making contrarian early-stage investments that others dismissed. He shares examples of being criticized for investing in web 2.0, hardware companies like Fitbit in 2008, and early cloud infrastructure when conventional wisdom said these sectors wouldn't generate VC returns.
Why this clip
This clip showcases the value of contrarian investing by highlighting specific examples where going against conventional VC wisdom led to successful outcomes.
What they said next
Why 15 years beats 10 years for venture funds
30:26 - 37s · market insight
More from this episode
Similar clips from other shows
From the blog
Want clips like this for your podcast?
We find your top 5-8 clips, write the hooks, and deliver ready-to-post content. First 2 episodes are free.
Get 2 Episodes Clipped Free