Mar
1st
Mon
1st
By most accounts Mint.com’s rapid rise to prominence and ultimate acquisition is the quintessential Silicon Valley success story. Yet, the Mint.com acquisition brought to light an interesting phenomenon, one I’ve coined the “Patzer Problem.” Prior to submitting offers to invest, three separate VCs wanted to confirm that we had no intention of “Pulling a Patzer,” modern-day Sand Hill Road parlance for selling too early… investors are becoming increasingly desperate for that single homerun investment that returns $1B or greater.
—
Tod Sacerdoti CEO BrightRoll in TechCrunch
To me it is not making sure you do not “pull a patzer” it is that you make sure that you stay away from some bloated out of date VC that can no longer live in the real world. Why let their out of date and mathematically incorrect business model get in the way of your own personal wealth creation.
