Redeye VC

Josh Kopelman

Managing Director of First Round Capital.

espite being coastally challenged (currently living in Philadelphia), Josh has been an active entrepreneur and investor in the Internet industry since its commercialization. In 1992, while he was a student at the Wharton School of the University of Pennsylvania, Josh co-founded Infonautics Corporation – an Internet information company. In 1996, Infonautics went public on the NASDAQ stock exchange.

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Monthly Archives for 2010

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Calling all chefs...

Cook_1At lunch today, a friend of mine asked me about my adjustment from being an entrepreneur to being a VC. Specifically, what mistakes I've made and what I've learned from them. A great question! Here was my answer:

I think that my one of my biggest early mistakes was the way I listened to company pitches. At first, I would listen to a pitch and try reduce the business opportunity to its raw ingredients. Rather than focus on the entrepreneur's business plan (since every business plan is wrong), I would try to imagine myself as the CEO and get excited about all of the great things I could create from those ingredients.

However, I've come to realize (the hard way) that I am no longer the chef. While I (hopefully) have the ability to influence the entrepreneur and make recommendations as to the menu, I am an advisor and he/she is the chef. As a VC I have to make an investment decision based on my confidence that the chef can create a wonderful meal with the ingredients he has at his disposal...

I invest in chefs -- not raw ingredients.

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