First Round will not declare Uber a win until cash is returned
Rob Hayes · Uber's First Investor, First Round Capital's Rob Hayes on How The Deal Of The Decade Originated and Why Product Orientated VC Is The Future · Mar 21, 2016 · at 12:47
First Round Capital partner Rob Hayes discusses how he views the firm's landmark seed investment in Uber prior to returning cash proceeds to limited partners.
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“I mean, my ultimate goal is to, you know, take money from my investors and invest it in companies and return multiples on that one. I haven't done that. Right. And so until that happens, I don't think I don't even call it a success right now. Come on. It's a massive company. It's obviously very well known. I think it's prospects for success are obviously a huge, but you know, it's, you know, I, you know, I don't look at that and go, you know, kind of, you know, rub my hands together and say, woo, okay, we're done. That's, you know, I did, you know, this is the best thing that's ever happened. Until that happens, I actually, in my mental checkbook, don't mark this off as, you know, the big win that a lot of people think that it is.”
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