Squandering Venture Capital
Boy oh boy. I do a little investing, and the one thing I’m always concerned about as an investor is the company’s burn rate – how much money they burn through each month. So imagine my horror when I discovered that my colleagues at OVP Venture Partners and Outlook Ventures are being taken for a ride by a silly stunt pulled by GraniteEdge Networks. There must be more to the story.
GraniteEdge paid a freakin’ fortune for a 10×20 foot exhibit space at the 2007 RSA Conference….and then didn’t show! That’s right. It’s sitting there, empty.
I mean, come on. I’m sorry, but if I were the VC, I would be pretty steamed.