Suster passed on Uber and Box due to personal biases
Mark Suster · 20VC: Upfront's Mark Suster on COVID Redefining What A Great Company Looks Like and What Valuations Look Like, Why Pay-To-Play Is Back On The Table & Why We Will See The Death of Party Rounds · Apr 20, 2020 · at 34:13
Mark Suster, Managing Partner at Upfront Ventures, reflects on his biggest investment anti-portfolio mistakes and how prior experience blinded him to massive market opportunities.
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“The obvious example, Harry, is Uber, where having lived in London and seen the taxi lobby and how strong the taxi lobby was in London, that clouded my vision for what was possible. Having lived in Los Angeles and seeing how few people ever use taxis, that clouded my judgment. If I look at Box, when I saw Box, I had built a document management company. I knew how hard it was, and I just said, that can never be a big company.”
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