I had two experiences this week with VCs who mishandled saying No. In both cases someone had approached a portfolio company, looking to invest, only to screw up their decision to demur.
In one case the would-be investor gave a transparently dumb excuse, one that was both shallow and obviously incorrect, on the order of, “Not tonight, I’m washing my hair”. In the other case the once-eager investor chased me down, then turned around and said “No” by remote control, having their admin send a PFO note — without even taking the meeting that they had earlier been so desperatefor.
This is the sort of thing that gives all VCs such bad names at No-ing.
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