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i do think um we don't know what the killer use case is going to be and it's going to be way too expensive for now so i do think that this is going to be something that hits like three years from now which means it's pretty good time to get into it actually and so i'm fascinated by it i think it's going to be huge i don't think they're stupid i think they're going to be huge
And at the time we were very, very stringent about investing in our backyard.
I have the email where I emailed Scott and I'm like UberCab we need to put money in now. Yeah. And he was like how much? I'm like 75k. Yeah. So we have we offered 75 we got pushed back to 50.
One of the nice things about it is you can place that bet again. Try it again. Right. And in the business we're in you only need to have one hit. You have a couple of them and the two I think probably ranked one and two. Uh we have the same one and twos which is Uber and Thumbtack.
I really do like that cuz I didn't I wouldn't say that I was the most disciplined investor before coming here.
Here it doesn't work that way. There's, um, it's consensus-based, and we have different thresholds, uh, that require different sign-offs. And so, you have to argue sometimes with another partner about the merits of the deal and whether or not it's a fit for the funds and whether or not we think it's going to get the venture multiples that we're looking for. And so, that's harder, but at the same time it creates more discipline.
So, if like if you look at Uber, Thumbtack, Postmates, all of these, Manolo, etc., are companies that believe that if they create this thing, people will behave in a totally different new way than they ever did before.
my job for my my partnership with Scott was to go out and find new deals outside of our network. And you know, that's Uber was not in our network, neither was Thumbtack.
in many cases Uber made it easier for Lyft and some of the other people to operate. Sure. They came right behind them. They ran through the walls and that other people could then come through.
super aggressive person fighting the taxi like industry. All of these like everything just started to line up and I'm like you need that kind of guy Right. to run the company.
Uber had a really big chance of being a unicorn and I'll tell you why. It it it's uh So, I've I've been very negative about taxi medallions for a long time.
if you look at Uber, Thumbtack, Postmates, all of these, Manolo, etc., are companies that believe that if they create this thing, people will behave in a totally different new way than they ever did before. Wow. Which is risky. Never heard this, uh, risky. heard this thesis. It's fascinating because for people to change their behavior significantly, Yeah. it must have been some much better solution. It must must be some colossally more efficient process or more delightful in some way. Right. Um,
i do think um we don't know what the killer use case is going to be and it's going to be way too expensive for now so i do think that this is going to be something that hits like three years from now which means it's pretty good time to get into it actually and so i'm fascinated by it i think it's going to be huge i don't think they're stupid i think they're going to be huge
i think it's a little bit of both i think there's going to be some really interesting applications ... but i also do think it's a lot of hype and i'm not sure how many people will actually buy these devices
it's a very savvy move on those three venture capitalist part because now they've taken the poll position on when somebody types in google glass venture capital they're going to at least go see andreason horowitz kleiner perkins and google ventures
i do think that these special funds are kind of a cool way to do this to get excitement and to get people thinking
I think this is one of those very early things um i think it's smart though
well sometimes I advise them to be parasitical which is you know go to Facebook build something that's you know rides off their success you know like right paypal to the ebay and to the zynga to the Facebook right
I think that Facebook has got it right because they have the social graph and um I get exposed to deals all the time just because I look in my newsfeed and I see really interesting deals that my friends have bought or people that I know have bought, which makes it a lot more interesting to me because I can go do that thing with them. But I don't understand how that's going to work on Google or Amazon um necessarily.
It's a little uh inconvenient.
No, not at all. I think uh anything involving a password is not secure and um you know that's that's the nature of doing things online. But I do I do question why are high ranking government officials using Gmail in the first place?
I think Google is becoming the new Microsoft frankly that uh we feared Microsoft for the longest time. Now Microsoft is not a concern. Google is a concern. So even though they may say they don't want to do evil in many many areas they're becoming more powerful than big brother was and they have the power to crush companies and industries the way they're going.