Every great investor has made some investments that he wishes he’d never made. Occasionally he’ll make another one like it. And another one like it. Eventually you learn. Or maybe you don’t.
I heard the following quote today attributed to an extraordinary successful investor (I’ve editorialized a little.)
“I’m fascinated with airplanes and the airline business, but every time I invest in them I regret it and lose money. I finally set up an 800 number, and every time I feel like buying an airline I call it, and it is a recording of me, telling me not to do it.”
There are several areas that I’ll never invest in again. Maybe someone can make money in them, but I can’t. And I eventually learn. Time to go set up a few 800 numbers to remind me.
What about a company that sets up 800 numbers for people who want recordings of themselves reminding themselves of things? (just kidding)
Comment by Eric — April 24, 2007 @ 3:01 pm
Brad,
If you don’t mind me asking, what are the areas you stay away from now?
Comment by Will — April 24, 2007 @ 7:10 pm
C’mon. Which areas…?
Comment by Mat — April 25, 2007 @ 2:52 am
Yes – well – those are my own little secrets. I’m sure I’ll write about them over time, especially after I call my 800 numbers.
Comment by Brad Feld — April 25, 2007 @ 5:26 am
Eric, no need to kid. Check out http://www.qtechinc.com/
They won a demo-god award earlier this year for demoing a service that enables people to phone into recordings of their voice reminding themselves of things… (“stickies without the pen!”). Seriously.
Comment by tobias — April 25, 2007 @ 1:39 pm
Brad doesn’t want to say because he doesn’t want any of his current portfolio companies to feel like an ugly stepsister
Comment by BR — April 26, 2007 @ 11:29 am